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    Property profile & analytics

    7221 2nd St Columbus, OH 43217-1222

    • Commercial real estate
    • 45,826 SF
    • 18.32 lot acres
    OFF-MARKET
    Last Sale
    Dec 13, 2022
    Value Estimations
    $7,430,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2099631
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • United States Navy Department / Military Base
    • US Naval Air Reserve Recruit / Military Base
    • US Navy Enlisted, Officer & Reserve Recruiting / Military Recruiting Office

    Property Details for 7221 2nd St

    Year built
    2002
    Lot size
    18.32 lot acres
    Property size
    45,826 SF
    Property type
    Commercial real estate
    APN
    150-002665
    APU
    150002665

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $8,765,000
      6.5%
      $8,090,000
      7%
      $7,510,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $8,245,000
      Market price range: $1.83M - $8.25M
      AI Estimate
      $5,949,000
      Market price range: $1.42M - $5.95M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $10,450,000
      AUTO REPAIR, GARAGE
      $7,265,000
      APARTMENT HOUSE (5+ UNITS)
      $6,645,000
      OFFICE BUILDING
      $6,540,000
      MEDICAL BUILDING
      $6,190,000
      NEIGHBORHOOD: SHOPPING CENTER
      $4,955,000
      RETAIL STORES
      $4,920,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -82.9459
    Latitude
    39.8198
    CBSA code
    18140
    CBSA name
    COLUMBUS, OH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $229,189
    $641,200
    $3,012,070
    $3,653,270
    -
    $1,832,000
    $8,605,900
    $10,437,900

    Comparable in this City

    • Value Estimation
      $1,250,000
      43,254 SF

      Lockbourne Feild

      COMMERCIAL (GENERAL) • 43,254 SF
      Lockbourne Feild, Columbus, OH 43217
      View Details
    • Value Estimation by Request
      0.85 Acres

      London-Groveport Rd

      Land • 0.85 Acres
      0 London-Groveport Rd, Columbus, OH 43217
      View Details
    • Value Estimation by Request
      0.37 Acres

      Cargo Rd

      INDUSTRIAL - VACANT LAND • 1,614 SF
      Cargo Rd, Columbus, OH 43217
      View Details
    • Value Estimation
      $26,905,000
      869,316 SF

      9570 Logistics Ct

      WAREHOUSE, STORAGE • 869,316 SF
      9570 Logistics Ct, Columbus, OH 43217-7500
      View Details
    • Value Estimation
      $2,725,000
      48,800 SF

      2961 George Page Jr Rd

      WAREHOUSE, STORAGE • 48,800 SF
      2961 George Page Jr Rd, Columbus, OH 43217-2104
      View Details
    • Value Estimation
      $2,055,000
      40,000 SF

      2566 Jerrie Mock Ave

      WAREHOUSE, STORAGE • 40,000 SF
      2566 Jerrie Mock Ave, Columbus, OH 43217-1350
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,689 SF

      Commercial Development Opportunity Near Base

      2.275 acre commercial property with two buildings for sale.
      2166 London Groveport Rd, Columbus, OH 43217
      View Details
    • $395,000

      Columbus Development Opportunity Near Airport

      0.85-acre development land zoned PUD in high-traffic area.
      London-Groveport Rd, Columbus, OH 43217
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    • $1,500,000
      5.81 Acres

      Columbus Land Near Commercial Hub

      5.81 acres near Amazon, DHL; rezoning potential.
      3357 London Groveport Rd, Columbus, OH 43217
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      289,491 SF

      Columbus Warehouse with Cross-Docking

      289,491 SF warehouse featuring cross-docking and ample parking.
      2221-2303 John Glenn Ave, Columbus, OH 43217
      View Details
    • Contact for pricing
      163,080 SF

      Columbus Warehouse and Distribution Space

      Available warehouse and distribution space in Columbus, Ohio.
      2300 Rickenbacker Pkwy W, Columbus, OH 43217
      View Details
    • Contact for pricing
      24,284 SF

      Warehouse Near Rickenbacker Airport

      Warehouse space with convenient access to transportation routes and airport.
      6959-6967 Alum Creek Dr, Columbus, OH 43217
      View Details
    • Contact for pricing
      62,172 SF

      Columbus Warehouse Space Available

      Suites available from 30,000 to 33,000 square feet.
      6969 Alum Creek Dr, Columbus, OH 43217
      View Details
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    7221 2nd St
    Columbus, OH 43217-1222
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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