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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    862 Cleveland Ave Columbus, OH 43201-3614

    • Retail space
    • 1,320 SF
    • 0.06 lot acres
    OFF-MARKET
    Last Sale
    Apr 03, 2023
    $220,000
    Value Estimations
    $200,000
    Show details
    Cap Rate Potential
    8%
    Retail space
    Location Intelligence
    Property ID
    US66-1903269
    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

    • Retail space

    Property Details for 862 Cleveland Ave

    Year built
    1935
    Lot size
    0.06 lot acres
    Property size
    1,320 SF
    Property type
    Retail space
    APN
    010-024635
    APU
    10024635

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $190,000
      ML approach
      $180,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $255,000
      6.5%
      $235,000
      7%
      $215,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $140,000
      Current use
      COMMERCIAL (GENERAL)
      $215,000
      Change: +51% Conversion: Easy
      AUTO REPAIR, GARAGE
      $210,000
      Change: +48% Conversion: Difficult
      OFFICE BUILDING
      $190,000
      Change: +33% Conversion: Easy
      MEDICAL BUILDING
      $180,000
      Change: +26% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $145,000
      Change: +1% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -82.9892
    Latitude
    39.9816
    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
    $354
    $3,190
    $1,650
    $4,840
    -
    $9,100
    $4,700
    $13,800

    Comparable in this City

    • Value Estimation
      $1,795,000
      0.08 Acres

      350 3rd Ave

      RETAIL STORES (PERSONAL SERVICES) • 0.08 Acres
      350 3rd Ave, Columbus, OH 43201-3318
      View Details
    • Value Estimation
      $320,000
      3,600 SF

      1239-1241 High St

      RETAIL STORES (PERSONAL SERVICES) • 3,600 SF
      1239-1241 High St, Columbus, OH 43201
      View Details
    • Value Estimation
      $410,000
      19,794 SF

      1714 High St, Unit 1726

      RETAIL STORES (PERSONAL SERVICES) • 19,794 SF
      1714 High St, Columbus, OH 43201-1105
      View Details
    • Value Estimation
      $285,000
      2,016 SF

      1167 Mt Pleasant Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,016 SF
      1167 Mt Pleasant Ave, Columbus, OH 43201-3512
      View Details
    • Value Estimation
      $265,000
      0.03 Acres

      1018 Smt St

      RETAIL STORES (PERSONAL SERVICES) • 0.03 Acres
      1018 Smt St, Columbus, OH 43201-3577
      View Details
    • Value Estimation
      $345,000
      7,585 SF

      631 5th Ave

      RETAIL STORES (PERSONAL SERVICES) • 7,585 SF
      631 5th Ave, Columbus, OH 43201-2966
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      12,619 SF

      Former CVS Drugstore on Cleveland Avenue

      12,619 SF retail space on 0.90 AC available.
      4400 Cleveland Ave, Columbus, OH 43201
      View Details
    • $699,000

      Three Buildings in Milo-Grogan

      Three buildings for sale in Milo-Grogan near Weinland Park.
      1225-1227 Cleveland Ave, Columbus, OH 43201
      View Details
    • $400,000
      3,609 SF

      Retail Property in Columbus, OH

      Retail property with rehabilitation potential in a desirable location.
      1420-1424 S 5Th St, Columbus, OH 43201
      View Details
    • $129,900

      Columbus Land: Milo Grogan Opportunity

      Build Your Dream Home: 3,049 sq ft lot
      570 Reynolds Ave, Columbus, OH 43201
      View Details
    • $600,000

      Prime Columbus Duplex

      Renovated 2-unit investment
      1350-1350 Dennison Ave, Columbus, OH 43201
      View Details
    • Contact for pricing
      6,142 SF

      Columbus Industrial Space for Sale

      6,142 SF industrial space with convenient highway access.
      800 Reynolds Ave, Columbus, OH 43201
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,574 SF

      Retail Space on Chittenden Avenue

      Retail space available for rent in Columbus, Ohio.
      266 Chittenden Ave, Columbus, OH 43201
      View Details
    • Contact for pricing
      1,500 SF

      Retail Space in High-Traffic Area

      Retail space with high visibility and strong tenant mix.
      3431 Cleveland Ave, Columbus, OH 43201
      View Details
    • $18 SF/Yr
      2,405 SF

      Retail Space on Fifth Avenue

      Retail space with private entries in dynamic corridor.
      27-29 E 5Th Ave, Columbus, OH 43201
      View Details
    • $17 SF/Yr
      1,200 SF

      Retail Space on South High

      Prime retail location with high traffic and visibility.
      1264-1270 South High St, Columbus, OH 43201
      View Details
    • Contact for pricing
      2,156 SF

      Retail Space Near Ohio State

      New retail opportunity near Ohio State University campus.
      10 W Northwood Ave, Columbus, OH 43201
      View Details
    • $28 SF/Yr
      2,889 SF

      Turn-Key Restaurant Retail Space

      Fully equipped restaurant and retail space in Italian Village.
      1022 Summit St, Columbus, OH 43201
      View Details
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    862 Cleveland Ave
    Columbus, OH 43201-3614
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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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