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Property profile & analytics
OFF-MARKET
Estimated value
$77,490,000
Distribution centers
Morse Rd Columbus, OH 43230
Entity Owned
6-yr Hold
Absentee Owner
Free & Clear
Property ID
US66-3327060
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1984
Total area
796,853 SF
Lot
202.04 ac (8,801,037 SF)
APN
520-150031
UPID
US66-3327060
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$77.49M
Owner & transaction history
City Of Columbus · 6 yrs held
City Of Columbus
since 2019
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$126.4M
+86.9%
Apartment house (5+ units)
$115.5M
+70.8%
Medical building
$107.6M
+59.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Columbus submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Columbus submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$67,620,000
Current use
AUTO REPAIR, GARAGE
$126,365,000
Change: +87% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$115,510,000
Change: +71% · Conversion: Difficult
MEDICAL BUILDING
$107,600,000
Change: +59% · Conversion: Difficult
OFFICE BUILDING
$107,425,000
Change: +59% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$86,125,000
Change: +27% · Conversion: Moderate
RETAIL STORES
$85,525,000
Change: +26% · Conversion: Moderate
Blend value · Realmo final
$77.49M
Range $69.74M – $85.24M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$97 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$3,116,329
Tax year 2023
Assessed value
$43,754,200
Assessed 2023
Previous assessed
$35,292,780
+24.0% YoY
Effective rate
7.12%
On assessed value
Assessed land
$7,237,790
Assessed improvement
$36,516,410
Land market value
$20,679,400
Improvement market value
$104,332,600
Total market value
$125,012,000
Applied tax rate
520.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1984
Heating
YES
Cooling
CENTRAL
Buildings
3
Stories
2
Total area
796,853 SF
Lot
202.04 ac (8,801,037 SF)
APN
520-150031
UPID
US66-3327060
Jurisdiction
FRANKLIN
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$67.6M
AUTO REPAIR, GARAGE
Est. value
$126.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$115.5M
MEDICAL BUILDING
Est. value
$107.6M
OFFICE BUILDING
Est. value
$107.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$86.1M
RETAIL STORES
Est. value
$85.5M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1984
Heating
YES
Cooling
Yes
Stories
2
Buildings
3
Lot
202.04 ac
Current owner
From public records · entity-resolved
City Of Columbus
Entity
Free & Clear · 6 yrs held
Mailing address
2 LIMITED PKWY, COLUMBUS, OH 43230-1445
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 28, 2019
—
City Of Columbus
Distribution Land Corp
Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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