Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1981 Granville Pike NE Lancaster, OH 43130

    View on Map
    Claim this Listing
    For Lease
    $3,000 /Mo

    COMMERCIAL - Lancaster, OH

    Type:Office
    Property size:
    3,360 SF
    Lot size:
    1.88 Acres
    Added:
    Mar 3, 2026
    Days on Market:
    46
    Last Refresh:
    Apr 18 at 6:06 am

    Property Features for 1981 Granville Pike NE

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Parking
    10
    Standard status
    Active
    APN
    05-33008-606
    Size
    3,360 SF
    Lot size
    1.88 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    4969

    Utilities

    Utilities
    Water Available
    Heating system
    Forced Air, Hot Water(Heating)
    Water source
    Public

    Building Details

    Year built
    1975

    We can help!

    Listing Contact
    Elizabeth Genevieve Wills

    Listing agent Elizabeth Genevieve Wills

    Listing office Rock House Realty LLC 15122 STATE ROUTE 664 S STE A, Logan, OH

    Listing date Mar 3, 2026

    MLS# 226006089

    Copyright © 2026 Columbus and Central Ohio Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Office Space on Granville Pike

    Available for lease are office spaces ranging from 100 square feet to 1658 square feet, situated within the property located at 1981 Granville Pike in Lancaster, Ohio. The property, with a total size of 3360 square feet and a lot size of 1.88 acres, offers excellent visibility and convenient access along Granville Pike. This location is suitable for established professional services that complement State Farm, office-based businesses, or service-oriented businesses. Tenants have access to an additional 616 square feet of common space. The property benefits from ample parking and strong traffic exposure, offering a growth opportunity in a high-demand area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Premier Medical Care ... Physician Meritra Health Physician Jeanette Carpenter Physician Naveen Bekkam Physician Jami Keister Physician

    Suggested Use

    Real Estate Agency Gym & Fitness Center Big Box & Wholesale Store Accounting Firm Hotel & Motel Department Store HVAC Service Bakery Nursing Home Travel Agency

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lancaster
    County
    Fairfield
    State
    Ohio
    Longitude
    -82.586251
    Latitude
    39.748022

    Nearby Similar for Lease

    • Contact for pricing

      High-Traffic Corner Lot in Lancaster

      Multi-parcel commercial lot in high-visibility area, Lancaster, Ohio.
      1706 N Memorial Drive, Lancaster, OH 43130
      View Details
    • Contact for pricing

      Downtown Lancaster Office Suite For Rent

      Prime office suite in downtown Lancaster, available March 1, 2026.
      113 W Wheeling Street, Lancaster, OH 43130
      View Details
    • Contact for pricing

      Lancaster, OH Commercial Space

      Prime commercial space for lease in Lancaster, Ohio.
      511 S High Street, Lancaster, OH 43130
      View Details
    • $8/mo

      Downtown Lancaster Second-Floor Office Space

      Second-floor office space for lease in downtown Lancaster, Ohio.
      230 N Columbus Street, Lancaster, OH 43130
      View Details
    • $15/mo

      Shoppes at Fair and Ety

      Retail space with strong tenants and good sign exposure.
      2245 Fair Ave, Lancaster, OH 93130
      View Details
    • $14/mo

      Medical Office Building For Lease

      Multi-tenant medical office building with renovated common areas.
      2405 North Columbus Street, Lancaster, OH, 43130
      View Details
    • Contact for pricing

      Retail Space in Busy Center

      Located in Lancaster's main shopping district near River Valley Mall.
      1627 North Memorial Drive, Lancaster, OH, 43130
      View Details
    • Contact for pricing

      Retail Space in Lancaster, OH

      Retail space available in Lancaster, Ohio, near Columbus.
      1500-1730 River Valley Cir S, Lancaster, OH
      View Details
    • Contact for pricing

      Lancaster Warehouse Space Available

      7,228 SF warehouse space for lease in Lancaster, OH.
      316 Sylvan Ave , Lancaster , OH
      View Details
    • $160,000/mo

      Renovated Commercial Building, Lancaster, OH

      Recently renovated commercial building in high-traffic area with ample parking.
      103 Cedar Hill Road, Lancaster, OH 43130
      View Details
    • $250/mo

      Retail Space for Lease

      Retail space available in a well-connected location.
      201 S Broad St, Lancaster, OH, 43130-4306
      View Details
    • $16/mo

      New Office Building Space

      New office space in Lancaster's business corridor, build-to-suit.
      2656 N Columbus Street, Lancaster, OH 43130
      View Details

    FAQs

    What type of property is this?
    Office units - Office spaces available for lease with high visibility and access.
    Where is this office units located?
    The property is located at 1981 Granville Pike NE Lancaster, OH.
    What is the lease rate?
    The lease rate is $3,000 /Mo.
    What are key features of this property?
    This property features: Excellent visibility and easy access on Granville Pike.; Space available, ranging from 100 sq ft to 1658 sq ft.; Ample parking.
    (740) 207-5076
    We can help!
    Listing Contact
    Elizabeth Genevieve Wills
    Learn More
    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.
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!