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Property profile & analytics
OFF-MARKET
Estimated value
$19,140,000
Medical Office Space
7277 Smiths Ml Rd New Albany, OH 43054-8195
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US66-1725474
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2005
Total area
60,408 SF
Lot
4.09 ac (178,030 SF)
APN
222-003261
UPID
US66-1725474
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$19.14M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$12.42M
Blend (final)
Blend
$19.14M
Owner & transaction history
Vpu New Albany I LLC · 1 yrs held
Vpu New Albany I LLC
since 2024
Last sale
$19.1M
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$17.6M
+93.3%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs New Albany submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New Albany submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$19,140,000
ML approach
$19,140,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$17,560,000
Change: +93% · Conversion: Difficult
Blend value · Realmo final
$19.14M
Range $17.23M – $21.05M · ±10% · vs last sale $19.14M (Aug 8 2024)
Last sale anchor
$19.14M
Aug 8 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$317 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$317,228
Tax year 2023
Assessed value
$4,020,880
Assessed 2023
Previous assessed
$4,020,880
+0.0% YoY
Effective rate
7.89%
On assessed value
Assessed land
$500,680
Assessed improvement
$3,520,200
Land market value
$1,430,500
Improvement market value
$10,057,700
Total market value
$11,488,200
Applied tax rate
222.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2005
Heating
YES
Cooling
CENTRAL
Buildings
1
Stories
3
Total area
60,408 SF
Lot
4.09 ac (178,030 SF)
APN
222-003261
UPID
US66-1725474
Jurisdiction
FRANKLIN
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$17.6M
RESTAURANT
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2005
Heating
YES
Cooling
Yes
Stories
3
Buildings
1
Lot
4.09 ac
Current owner
From public records · entity-resolved
Vpu New Albany I LLC
Entity
Mailing address
7277 PO BOX 92129TH RD, SOUTHLAKE, TX 76092-0102
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 8, 2024
$19,138,800
Vpu New Albany I LLC
Doc 7277 Smiths Mill Road Mob LLC
Limited Warranty Deed
$418,388,594 · Dco Dr LLC
Sep 21, 2015
$11,200,000
Doc-7277 Smiths Mill Road Mob
7277 NA Group I LLC
Grant Deed
—
Jul 29, 2015
$300,500
7277 NA Private Investor Xi
7277 NA Private Investor Xxi L
Grant Deed
related
—
Jan 8, 2008
—
7277 NA Private Investor Xxii
7277 NA Group I LLC
Quit Claim Deed
—
Dec 20, 2007
$13,890,400
7277 NA Private Investor III
7277 NA Group I LLC
Grant Deed
—
Oct 25, 2007
$14,900,000
7277 NA Group I LLC
New Albany Medical Center LLC
Grant Deed
$9,528,386 · Wells Fargo B Cd 2006-cd2 (tr)
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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