Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    85-87 Yale Ave Columbus, OH 43222
    Back to Search
    Property profile & analytics

    85-87 Yale Ave, Columbus, OH 43222

    View on Map
    • Small apartment buildings
    Off-Market
    Property ID
    US66-1470179
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Small apartment buildings

    Property Details for 85-87 Yale Ave

    Year built
    1910
    Property type
    Small apartment buildings

    Description

    This turnkey duplex in Columbus, Ohio's Franklinton neighborhood presents a compelling investment opportunity. Located within the rapidly developing "Franklinton NOW" area, this property boasts two units, each featuring three bedrooms and one bathroom. Recently renovated, both units showcase new furnaces, AC units, flooring, paint, cabinets, hardware, vanities, and fixtures. One unit currently generates $1,225 monthly income through July 2025, offering immediate cash flow. The second unit is vacant, providing flexibility for owner occupancy or immediate rental income. The property sits on a 3,484.8 square foot lot and includes four parking spaces and a large backyard. Each unit also features a basement with washer and dryer hookups. The asking price is $289,900, translating to $119.25 per square foot. Built in 1910, this property offers a blend of historic charm and modern updates, making it ideal for both seasoned investors and first-time buyers seeking a low-maintenance rental property in a thriving urban location. The property is situated at 85-87 N Yale Avenue, Columbus, OH 43222. Currently, the occupancy rate is 50%.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -83.0325411
    Latitude
    39.9602123

    Comparable in this City

    • Contact for pricing

      Franklinton Retail and Apartment Building

      Retail space with unfinished apartments in booming Franklinton.
      1338-1350 W Broad St, Columbus, OH 43222
      View Details
    • Contact for pricing
      23,758 SF

      Franklinton Mixed-Use Building For Sale

      Mixed-use building with development opportunity in Opportunity Zone.
      1201 W Broad St, Columbus, OH 43222
      View Details
    • Contact for pricing
      4,408 SF

      941 W Broad St, Columbus, OH 43222

      Mixed-use properties
      941 W Broad St, Columbus, OH 43222
      View Details
    • Contact for pricing

      Tax Abated Income-Producing Duplex

      Duplex with long-term tenants and strong income, tax abated!
      113-115 W Park Ave, Columbus, OH 43222
      View Details
    • Contact for pricing

      Updated Duplex in Franklinton

      Updated duplex perfect for investors in a high-growth area.
      140 Dana Ave, Columbus, OH 43222
      View Details
    • $289,900
      0.10 Acres

      Updated Franklinton Duplex For Sale

      Renovated duplex with strong rental history near downtown Columbus.
      189-191 N Central Ave, Columbus, OH 43222
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,408 SF

      941 W Broad St, Columbus, OH 43222

      Mixed-use properties
      941 W Broad St, Columbus, OH 43222
      View Details
    • Contact for pricing
      23,758 SF

      Franklinton Mixed-Use Building For Sale

      Mixed-use building with development opportunity in Opportunity Zone.
      1201 W Broad St, Columbus, OH 43222
      View Details
    • Contact for pricing

      Franklinton Retail and Apartment Building

      Retail space with unfinished apartments in booming Franklinton.
      1338-1350 W Broad St, Columbus, OH 43222
      View Details
    • Contact for pricing

      Tax Abated Income-Producing Duplex

      Duplex with long-term tenants and strong income, tax abated!
      113-115 W Park Ave, Columbus, OH 43222
      View Details
    • Contact for pricing

      Updated Duplex in Franklinton

      Updated duplex perfect for investors in a high-growth area.
      140 Dana Ave, Columbus, OH 43222
      View Details
    • $289,900
      0.10 Acres

      Updated Franklinton Duplex For Sale

      Renovated duplex with strong rental history near downtown Columbus.
      189-191 N Central Ave, Columbus, OH 43222
      View Details

    Similar Nearby for Lease

    • $500,000
      4,408 SF

      All-Brick Mixed-Use Building with Parking

      New-roof all-brick building offers flexible retail with apartment potential plus basement storage and eight off-street parking spaces.
      941 W Broad St, Columbus, OH 43222
      View Details
    • Contact for pricing

      Warehouse, Commercial, Retail Space Available

      Versatile space near downtown Columbus with I-70 access.
      1268 W Broad St, Columbus, OH 43222
      View Details
    • Contact for pricing
      8,000 SF

      Franklinton Commercial Building

      8,000 SF, High-Visibility Location
      1022 Broad St, Columbus, OH 43222
      View Details
    • Contact for pricing
      8,000 SF

      Franklinton Commercial Building on Broad

      8,000 SF commercial building in shell condition on 0.35-acre lot.
      1022 W Broad St, Columbus, OH 43222
      View Details
    • Contact for pricing
      6,600 SF

      Retail Space in High-Traffic Area

      Retail space with ample parking and convenient highway access.
      1469 W Broad St, Columbus, OH 43222
      View Details
    • $2,000 /Mo

      Commercial Land For Lease

      Paved and fenced ~0.5 acre lot available for lease.
      1000 Mckinley Ave, Columbus, OH 43222
      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.
    85-87 Yale Ave
    Columbus, OH 43222
    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

    Thank You for Inquiry
    85-87 Yale Ave, Columbus, OH, 43222
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!