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    880 Hamilton Rd, Unit 946 Columbus, OH 43213-3003
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    Property profile & analytics

    880 Hamilton Rd, Unit 946, Columbus, OH 43213-3003

    View on Map
    • Community centers
    • 88,969 SF
    • 8.33 lot acres
    Off-Market
    Last Sale Oct 23, 2023
    $6,625,000
    Property ID
    US66-3599518
    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
    $6,705,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Community centers

    Property Details for 880 Hamilton Rd

    Year built
    1910
    Lot size
    8.33 lot acres
    Property type
    Community centers
    Property subtype
    Shopping centers
    APN
    090-000052
    APU
    90000052

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Oct 23, 2023 $6,625,000 Is Can Great Eastern LP Great Eastern Owner Limited Limited Warranty Deed —
    Nov 15, 2013 — Great Eastern Owner Ltd State Street Holdings INC Grant Deed —
    Nov 23, 2004 — Great Eastern Owner Ltd Great Eastern Corp Quit Claim Deed · related —

    Description

    Great Eastern Shopping Center, located at 880 S Hamilton Rd in Whitehall, Ohio (zip code 43213), offers exceptional retail opportunities. This Class A, 86,391 square foot neighborhood center boasts 13 suites and enjoys a prominent position at the busy intersection of S. Hamilton Road and E. Main Street, experiencing a combined traffic count exceeding 40,000 vehicles per day. The center benefits from excellent visibility and ample convenient parking. A significant advantage is its proximity to a Kroger grocery store, a major anchor drawing approximately 900,000 customers annually. Currently, there are two available spaces, with sizes ranging from a minimum of 4,425 square feet to a maximum contiguous space of 9,962 square feet. The total vacant space amounts to 14,387 square feet. Situated in Franklin County, this center represents a prime investment opportunity in a densely populated area of Columbus' east side. The property's high traffic location and strong anchor tenant make it an ideal location for a variety of retail businesses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $6,830,000
      ML approach
      $7,225,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,219,000
      Market price range: $3.69M - $19.7M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $9,615,000
      Current use
      RETAIL STORES
      $9,470,000
      Change: -2% Conversion: Easy
      COMMERCIAL (GENERAL)
      $8,635,000
      Change: -10% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -82.8758
    Latitude
    39.9567
    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
    $111,564
    $710,990
    $890,030
    $1,601,020
    -
    $2,031,400
    $2,542,900
    $4,574,300

    Comparable in this City

    • Value Estimation by Request
      109,067 SF

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    • Value Estimation
      $8,995,000
      77,252 SF

      7000 Broad St

      MINI-MALL
      7000 Broad St, Columbus, OH 43213-1519
      View Details
    • Value Estimation
      $10,490,000
      110,749 SF

      6071 Main St

      MINI-MALL
      6071 Main St, Columbus, OH 43213
      View Details
    • Value Estimation by Request
      27,747 SF

      3325 Broad St

      Lifestyle centers
      3325 Broad St, Columbus, OH 43213
      View Details
    • Value Estimation by Request
      0.68 Acres

      Main St

      MINI-MALL
      Main St, Columbus, OH 43213
      View Details
    • Value Estimation
      $5,050,000
      59,883 SF

      3750 Broad St, Unit 3776

      MINI-MALL
      3750 Broad St, Columbus, OH 43213-7000
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      85,084 SF

      Columbus Shopping Center For Sale

      85,084 square-foot shopping center in Columbus, Ohio.
      2361-2595 S Hamilton Rd, Columbus, OH 43213
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      4,380 SF

      Columbus Car Wash Investment Opportunity

      NNN leased car wash near Columbus Airport with corporate guaranty.
      3911 E Broad St, Columbus, OH 43213
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      Land Lease in Norton Crossing

      Land lease corporately guaranteed by First Commonwealth Bank.
      51 S Hamilton Rd, Whitehall, OH 43213
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      Pending

      Tool Rental Business For Sale

      Real estate with two buildings on a high-traffic corner.
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      2,613 SF

      Free-Standing Retail Building For Sale

      Vacant retail building in Columbus MSA, formerly Wendy’s.
      4595 E Main St, Columbus, OH 43213
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      Freestanding Building on Corner Lot

      4,500 SF retail/office space in Whitehall Main Street District.
      4214 E Main St, Whitehall, OH 43213
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    Similar Nearby for Lease

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      109,067 SF

      East Pointe Crossing Retail Space

      Columbus Shopping Center - 1,400 SF Available
      6916-7000 Broad St, Columbus, OH 43213
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    • Contact for pricing

      Retail Opportunities on East Broad

      Retail spaces available within a large shopping center development.
      6791-6977 East Broad St, Columbus, OH 43213
      View Details
    • Contact for pricing
      4,800 SF

      Retail Space in Kroger Anchored Center

      4,800 SF retail space with excellent visibility and accessibility.
      7000 E Broad St, Blacklick, OH 43213
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      4,434 SF

      Retail Space in Strip Center

      Retail space for lease with high visibility and traffic.
      5156-5160 E Main St, Columbus, OH 43213
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      8,000 SF

      Retail Space in Prime Location

      Retail space for lease with high visibility and traffic.
      5091-5139 E Main St, Columbus, OH 43213
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    • Contact for pricing
      1,989 SF

      Retail Space Near Interstates

      Retail space in a high-traffic shopping center near interstates.
      4736-4744 East Main St, Columbus, OH 43213
      View Details
    Request Owner's contact information
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    880 Hamilton Rd, Unit 946
    Columbus, OH 43213-3003
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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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