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Property profile & analytics
OFF-MARKET
Estimated value
$26,610,000
Office buildings
8111 Smiths Ml Rd, New Albany, OH 43054-1183
Entity Owned
Absentee Owner
Free & Clear
Property ID
US66-2847548
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2013
Total area
135,764 SF
Lot
40.94 ac (1,783,129 SF)
APN
222-001949
UPID
US66-2847548
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
$24.00M
CAP Approach
CAP
$27.43M
Comparable Approach
Comparable
$26.74M
Blend (final)
Blend
$26.61M
Owner & transaction history
Eog Resources INC
Eog Resources INC
since 2025
Last sale
$28.7M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$39.5M
+111.5%
Auto repair, garage
$22.4M
+20.0%
Neighborhood: shopping center
$22.3M
+19.4%
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
$24,000,000
ML approach
$24,000,000
CAP Approach
CAP Return
Estimation
6%
$29,715,000
6.5%
$27,430,000
7%
$25,470,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$18,660,000
Current use
RESTAURANT
$39,465,000
Change: +112% · Conversion: Moderate
AUTO REPAIR, GARAGE
$22,385,000
Change: +20% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$22,270,000
Change: +19% · Conversion: Difficult
MEDICAL BUILDING
$20,420,000
Change: +9% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$19,680,000
Change: +5% · Conversion: Easy
RETAIL STORES
$16,965,000
Change: -9% · Conversion: Moderate
Blend value · Realmo final
$26.61M
Range $23.95M – $29.27M · ±10% · vs last sale $28.74M (Jun 29 2025)
Last sale anchor
$28.74M
Jun 29 2025
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
$196 / 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
$237,715
Tax year 2023
Assessed value
$13,745,100
Assessed 2023
Previous assessed
$13,745,100
+0.0% YoY
Effective rate
1.73%
On assessed value
Assessed land
$2,870,110
Assessed improvement
$10,874,990
Land market value
$8,200,300
Improvement market value
$31,071,400
Total market value
$39,271,700
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2013
Heating
YES
Cooling
CENTRAL
Buildings
3
Stories
2
Total area
135,764 SF
Lot
40.94 ac (1,783,129 SF)
APN
222-001949
UPID
US66-2847548
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
OFFICE BUILDING Current
Est. value
$18.7M
RESTAURANT
Est. value
$39.5M
AUTO REPAIR, GARAGE
Est. value
$22.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$22.3M
MEDICAL BUILDING
Est. value
$20.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$19.7M
RETAIL STORES
Est. value
$17.0M
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
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
2013
Heating
YES
Cooling
Yes
Stories
2
Buildings
3
Lot
40.94 ac
Current owner
From public records · entity-resolved
Eog Resources INC
Entity
Free & Clear · 0 yrs held
Mailing address
188 COMMERCE BLVD, JOHNSTOWN, OH 43031-9011
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 29, 2025
$28,740,000
Eog Resources INC
Thirty One Real Estate LLC
Warranty Deed
—
Jan 9, 2025
—
Thirty One Real Estate LLC
Rachel F Gold
Quitclaim Deed
related
—
Oct 2, 2024
—
Rachel F Gold
Thirty One Real Estate LLC
Quit Claim Deed
related
—
Nov 1, 2018
$24,000,000
Thirty-one Real Estate LLC
Bob Evans Restaurants LLC
Trustees Deed
$40,000,000 · Fifth Third Bk
May 25, 2017
$24,000,000
Bob Evans Restaurants LLC
Bef Management INC
Grant Deed
—
May 5, 2016
—
Bef Management INC
—
Deed
related
—
Dec 19, 2011
$6,550,400
Bef Management INC
New Albany Co LLC
Grant Deed
—
Oct 7, 2010
—
Mrc Land LLC
New Albany Co LLC
Quit Claim Deed
related
—
Oct 28, 2005
—
Board Of Commissioners/franklin C
New Albany Co LLC
Warranty Deed
—
—
—
Bef Management INC
—
Loan Modification
related
—
—
—
Bef Management INC
—
Deed Of Trust
related
$30,000,000 · Bank Of America
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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