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

    Andover Rd Heath, OH 43056

    • Apartment buildings
    • 4,080 SF
    • 12.84 lot acres
    OFF-MARKET
    Value Estimations
    $420,000
    Show details
    Cap Rate Potential
    10%
    Apartment buildings
    Location Intelligence
    Property ID
    US66-4519648
    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

    • Apartment buildings

    Property Details for Andover Rd

    Year built
    1963
    Lot size
    12.84 lot acres
    Property size
    4,080 SF
    Property type
    Apartment buildings
    APN
    030-088884-00.001
    APU
    3008888400001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $375,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $625,000
      6.5%
      $575,000
      7%
      $535,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $346,000
      Market price range: $139k - $347k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $225,000
      Current use
      OFFICE BUILDING
      $435,000
      Change: +92% Conversion: Moderate
      MEDICAL BUILDING
      $325,000
      Change: +44% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $320,000
      Change: +41% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $310,000
      Change: +37% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Heath
    County
    Licking
    State
    Ohio
    Longitude
    -82.441
    Latitude
    40.0322
    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
    $206,796
    $898,800
    $2,936,400
    $3,835,200
    -
    $2,568,000
    $8,389,700
    $10,957,700

    Comparable in this City

    • Value Estimation
      $595,000
      31,402 SF

      1030 30th St

      APARTMENT HOUSE (5+ UNITS) • 31,402 SF
      1030 30th St, Heath, OH 43056-1179
      View Details
    • Value Estimation
      $255,000
      1,419 SF

      993 30th St

      APARTMENT HOUSE (5+ UNITS) • 1,419 SF
      993 30th St, Heath, OH 43056-1186
      View Details
    • Value Estimation
      $215,000
      1,419 SF

      27 Licking Vw Dr

      APARTMENT HOUSE (5+ UNITS) • 1,419 SF
      27 Licking Vw Dr, Heath, OH 43056-1566
      View Details
    • Value Estimation
      $395,000
      5,344 SF

      1706 Watson Rd, Unit 1722

      APARTMENT HOUSE (5+ UNITS) • 5,344 SF
      1706 Watson Rd, Heath, OH 43056-8908
      View Details
    • Value Estimation
      $185,000
      4,250 SF

      459 30th St

      APARTMENT HOUSE (5+ UNITS) • 4,250 SF
      459 30th St, Heath, OH 43056
      View Details
    • Value Estimation
      $355,000
      5,040 SF

      152 Partridge Ct, Unit 162

      APARTMENT HOUSE (5+ UNITS) • 5,040 SF
      152 Partridge Ct, Heath, OH 43056-1310
      View Details

    Similar Nearby for Sale

    • $309,900
      1,488 SF

      River Oaks Ranch Condo

      Two-bedroom, two-bath ranch condo in desirable Heath community.
      95 Jonathan Dr, Heath, OH 43056
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    • $750,000
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      Heath Commercial Property - $750K

      Versatile 4,860 SF Commercial Building in Heath, OH
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    • $50,000
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      Established Children's Spa Business

      Profitable spa business for ages 3+ with loyal clientele.
      381 S 30Th St, Heath, OH 43056
      View Details
    • $330,000

      1.75 Acre Commercial Land Parcel

      1.75-acre commercial land parcel in active commercial corridor.
      1406 Hebron Rd, Heath, OH 43056
      View Details
    • $21,343,500

      Heath, OH Mixed-Use Land

      Land with mixed zoning and rail access in Heath, OH.
      Central Pkwy, Heath, OH 43056
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    • $1,200,000
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      Aircraft Hangar with Office Space

      10,000 SF hangar with office on 2.92 acres.
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      View Details

    Similar Nearby for Lease

    • $8 SF/Yr
      1,750 SF

      Stand-Alone Industrial Building For Lease

      Light industrial space with drive-in door access, ready for occupancy.
      831 Irving Wick Dr W, Heath, OH 43056
      View Details
    • $350,000

      Commercial Land For Lease

      Approximately 2.3 acre redevelopment opportunity in Qualified Opportunity Zone.
      733 Hebron Rd, Heath, OH 43056
      View Details
    • Contact for pricing
      1,885 SF

      Retail Space in Heath, Ohio

      Retail space available in established shopping center.
      911 Hebron Rd, Heath, OH 43056
      View Details
    • Contact for pricing

      Commercial Land for Rent

      2 acres of commercial land available for rent.
      833 S 30Th St, Heath, OH 43056
      View Details
    • $4,500 /Mo
      12,220 SF

      Historic Mixed-Use Building For Rent

      Historic mixed-use building with office and flex space available for rent.
      48 S 4Th St, Newark, OH 43056
      View Details
    • Contact for pricing
      209,280 SF

      Heath Retail Center Opportunity

      Prime Licking County shopping center space available
      607 Hebron Rd, Heath, OH 43056
      View Details
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    Andover Rd
    Heath, OH 43056
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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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