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    Property profile & analytics

    8231 Broad St Reynoldsburg, OH 43068-9732

    • Retail properties
    • 139,050 SF
    • 14.83 lot acres
    OFF-MARKET
    Value Estimations
    $11,380,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-4508273
    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

    • Installation Services / General Contractor
    • Shoppes At East Broad / Business Service Center / Corporate Office
    • Lowe's Garden Center / Garden Center
    • lowes Garage Door Repair Opener Installation / Building Supply / General Contractor
    • Lowe's ProServices / Building Supply / Industrial Manufacturer

    Property Details for 8231 Broad St

    Year built
    2007
    Lot size
    14.83 lot acres
    Property size
    139,050 SF
    Property type
    Retail properties
    APN
    067-000078
    APU
    67000078

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $10,751,000
      Market price range: $10.8M - $35.7M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $18,600,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Reynoldsburg
    County
    Franklin
    State
    Ohio
    Longitude
    -82.7825
    Latitude
    39.9843
    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
    $236,074
    $1,410,850
    $1,841,490
    $3,252,340
    -
    $4,031,000
    $5,261,400
    $9,292,400

    Comparable in this City

    • Value Estimation
      $2,505,000
      28,489 SF

      2389 Taylor Park Dr

      DEPARTMENT STORE • 28,489 SF
      2389 Taylor Park Dr, Reynoldsburg, OH 43068-8052
      View Details
    • Value Estimation by Request
      55,882 SF

      8134 Broad St

      Restaurants • 55,882 SF
      8134 Broad St, Reynoldsburg, OH 43068
      View Details
    • Value Estimation by Request

      2640 Brice Rd

      Individual retail properties
      2640 Brice Rd, Reynoldsburg, OH 43068
      View Details
    • Value Estimation by Request
      23,252 SF

      2032-2042 State Route 256

      Retail properties • 23,252 SF
      2032-2042 State Route 256, Reynoldsburg, OH 43068
      View Details
    • Value Estimation by Request
      132,643 SF

      6962-7106 Main St

      Lifestyle centers • 132,643 SF
      6962-7106 Main St, Reynoldsburg, OH 43068
      View Details
    • Value Estimation by Request
      2,698 SF

      7360 Main St

      Restaurants • 2,698 SF
      7360 Main St, Reynoldsburg, OH 43068
      View Details

    Similar Nearby for Sale

    • $1,200,000
      4,028 SF

      Main Street Retail Opportunity

      Reynoldsburg retail building, 4,028 sq ft, $1.2M
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    • $1,695,000
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      Historic Restaurant Opportunity

      Restaurant building, fixtures, furniture, and equipment for sale.
      7345 E Main St, Reynoldsburg, OH 43068
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    • $850,000

      Turnkey Restaurant/Bar in Revitalizing Area

      Fully equipped restaurant/bar in a prime downtown location.
      7360 East Main St, Reynoldsburg, OH 43068
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    • $750,000
      2,698 SF

      Restaurant in Revitalized Downtown Reynoldsburg

      Full-service restaurant with outdoor seating in downtown Reynoldsburg, Ohio.
      7360-7362 E Main St, Reynoldsburg, OH 43068
      View Details
    • $1,200,000
      4,028 SF

      Main Street Retail Opportunity

      Reynoldsburg Retail Building - High Visibility
      6800 Main St, Reynoldsburg, OH 43068
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    • $200,000
      22,505 SF

      Retail Smoke Shop For Sale

      Turnkey retail smoke shop with diverse product offerings.
      6537 E Livingston Ave, Reynoldsburg, OH 43068
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,678 SF

      Freestanding Restaurant with Drive-Thru

      3,679 SF restaurant with drive-thru in Reynoldsburg, OH.
      6999 E Main St, Reynoldsburg, OH 43068
      View Details
    • Contact for pricing
      55,882 SF

      Broad Street Plaza East Retail Space

      Prime Reynoldsburg retail, 1,441-5,650 sq ft available.
      8134 Broad St, Reynoldsburg, OH 43068
      View Details
    • Contact for pricing
      50,435 SF

      Brice Road Retail Spaces Available

      Reynoldsburg, OH: Prime Retail Opportunity
      2640 Brice Rd, Reynoldsburg, OH 43068
      View Details
    • $1.00 SF/Yr
      132,643 SF

      Reynoldsburg Shopping Center

      Prime Retail Space Available
      6962-7106 Main St, Reynoldsburg, OH 43068
      View Details
    • Contact for pricing
      42,840 SF

      Busiest Shopping Center Available

      High-traffic shopping center with strong demographics and excellent visibility.
      2829-2965 Taylor Rd, Reynoldsburg, OH 43068
      View Details
    • Contact for pricing
      2,140 SF

      Retail Space in Power Center

      Retail space available in a power center with strong traffic.
      7995-8173 E Broad St, Reynoldsburg, OH 43068
      View Details
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    8231 Broad St
    Reynoldsburg, OH 43068-9732
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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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