Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    839-843 Neil Ave Columbus, OH 43215

    • Residential income homes
    • 5,863 SF
    • 0.16 lot acres
    OFF-MARKET
    Value Estimations
    $675,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2297782
    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

    • Residential income homes

    Property Details for 839-843 Neil Ave

    Year built
    1904
    Lot size
    0.16 lot acres
    Property size
    5,863 SF
    Property type
    Residential income homes
    Property subtype
    Serviced apartments
    APN
    010-025417
    APU
    10025417

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $670,000
      6.5%
      $620,000
      7%
      $575,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $659,000
      Market price range: $441k - $660k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $850,000
      Current use
      AUTO REPAIR, GARAGE
      $930,000
      Change: +9% Conversion: Difficult
      OFFICE BUILDING
      $830,000
      Change: -2% Conversion: Moderate
      MEDICAL BUILDING
      $790,000
      Change: -7% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $690,000
      Change: -19% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -83.0118
    Latitude
    39.9786
    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
    $17,916
    $77,000
    $318,890
    $395,890
    -
    $220,000
    $911,100
    $1,131,100

    Comparable in this City

    • Value Estimation by Request
      4,007 SF

      364-368 Hubbard Ave

      BOARDING/ROOMING HOUSE • 4,007 SF
      364-368 Hubbard Ave, Columbus, OH 43215
      View Details
    • Value Estimation by Request
      3,803 SF

      225-227 Buttles Ave

      BOARDING/ROOMING HOUSE • 3,803 SF
      225-227 Buttles Ave, Columbus, OH 43215
      View Details
    • Value Estimation by Request
      3,809 SF

      244-246 Hubbard Ave

      BOARDING/ROOMING HOUSE • 3,809 SF
      244-246 Hubbard Ave, Columbus, OH 43215
      View Details
    • Value Estimation by Request
      3,402 SF

      311-313 Hubbard Ave

      BOARDING/ROOMING HOUSE • 3,402 SF
      311-313 Hubbard Ave, Columbus, OH 43215
      View Details
    • Value Estimation by Request
      3,388 SF

      249-253 Wilber Ave

      BOARDING/ROOMING HOUSE • 3,388 SF
      249-253 Wilber Ave, Columbus, OH 43215
      View Details
    • Value Estimation
      $505,000
      4,287 SF

      340-342 Wilber Ave

      BOARDING/ROOMING HOUSE • 4,287 SF
      340-342 Wilber Ave, Columbus, OH 43215
      View Details

    Similar Nearby for Sale

    • $2,650,000
      12,702 SF

      Downtown Columbus Multifamily Investment

      14-unit apartment complex, expansion potential.
      602 Town St, Columbus, OH 43215
      View Details
    • $9,500,000
      Pending

      Refurbished Mixed-Use Building in Columbus

      Historical building with luxury apartments, commercial units, and development potential.
      309 S 4Th St, Columbus, OH 43215
      View Details
    • $939,900
      2,246 SF

      Arena District Townhome with Amenities

      Two-story townhome near Arena District with tax abatement and amenities.
      250 W Spring St, Columbus, OH 43215
      View Details
    • Contact for pricing
      700,000 SF

      Downtown Columbus Live-Work-Play Landmark

      31-story building with office, hotel, residential, and retail spaces.
      475 N Wall St, Columbus, OH 43215
      View Details
    • $1,650,000

      Columbus Multifamily Investment Opportunity

      Four-unit apartment building, prime location.
      309 4Th Ave, Columbus, OH 43215
      View Details
    • $325,000
      842 SF

      Industrial-Chic Loft in Brewery District

      West-facing loft with industrial vibe, modern amenities, and prime location.
      570 S Front St, Columbus, OH 43215
      View Details

    Similar Nearby for Lease

    • $1,100,000
      4,464 SF

      Turnkey Restaurant and Apartments Opportunity

      Historic Columbus landmark with restaurant, bar, and rental apartments.
      22 East Mound St, Columbus, OH 43215
      View Details
    • $18 SF/Yr
      1,969 SF

      Retail Space in Olde Towne

      Corner retail space in a vibrant, growing neighborhood.
      122-138 Parsons Ave, Columbus, OH 43215
      View Details
    • Contact for pricing

      Creative Office and Retail Space

      Creative office and retail space within a large mixed-use development.
      500 West Broad St, Columbus, OH 43215
      View Details
    • $14 SF/Yr
      41,896 SF

      Prime Columbus Office Space

      Arena District Offices, 10,765 SF Available
      300 Marconi Blvd, Columbus, OH 43215
      View Details
    • $14 SF/Yr
      243,547 SF

      Miranova Corporate Tower Office Space

      Columbus, Ohio Executive Office Suites
      0 2 Miranova Pl, Columbus, OH 43215
      View Details
    • $21 SF/Yr
      495,150 SF

      Columbus Coworking Space Available

      Class A Office, Modern Amenities, 218,889 SF Vacant
      65 State St, Columbus, OH 43215
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    839-843 Neil Ave
    Columbus, OH 43215
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.