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    Retail Space Near BJ's Wholesale Title is generated by Realmo AI

    8595 Owenfield Drive, Powell, OH 43065

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    Claim this Listing
    Pending
    $5,000/Mo $24 SF/Yr (calc)

    COMMERCIAL - Powell, OH

    Type:Retail
    Property size:
    2,429 SF
    Lot size:
    0.91 Acres
    Added:
    Jul 18, 2025
    Days on Market:
    306
    Last Refresh:
    May 19 at 1:06 am

    Property Features for 8595 Owenfield Drive

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Parking
    10
    Standard status
    Pending
    APN
    318-321-02-016-017
    Size
    2,429 SF
    Lot size
    0.91 Acres

    Utilities

    Utilities
    Water Available
    Sewer type
    Public Sewer
    Heating system
    Forced Air
    Water source
    Public

    Building Details

    Year built
    2003
    Floors in Building
    1
    Number of units
    1

    We can help!

    Listing Contact
    Joseph C Jackson
    Joseph C Jackson

    Listing agent Joseph C Jackson License #2014000204

    Listing office Keller Williams Capital Ptnrs 100 E Wilson Bridge Road, Worthington, OH

    Listing date Jul 18, 2025

    MLS# 225026680

    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.

    HighLights

    • High‑traffic location across from BJ's Wholesale Club and near major retailers.
    • Located in a fast‑growing area with over 62,000 residents within a 3‑mile radius.
    • 2,429 sq ft end cap retail space.
    • Opportunity for a small retail establishment in a developing area.
    • Utilities include water available, public water source, and public sewer.
    • Year built: 2003.

    Overview

    Available retail space encompassing 2429 square feet, situated as an end cap in a high-traffic corridor across from BJ's Wholesale Club. The location is near Home Depot, Meijer, Staples, Walmart, and Key Bank. The property is positioned in a fast-growing area with opportunities for a small retail establishment. The owners prefer a 5-year lease with renewal options, accompanied by a security deposit and first and last month's rent payable at lease signing. The surrounding area has over 62,000 residents in a 3-mile radius.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Map

    City
    Powell
    County
    Butler
    State
    Ohio
    Longitude
    -83.0808
    Latitude
    40.1701

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    FAQs

    What type of property is this?
    Retail space - 2429 SF retail space in high-traffic Powell, Ohio corridor.
    Where is this retail space located?
    The property is located at 8595 Owenfield Drive Powell, OH.
    What is the lease rate?
    The lease rate is $5,000 /Mo.
    What are key features of this property?
    This property features: High‑traffic location across from BJ's Wholesale Club and near major retailers.; Located in a fast‑growing area with over 62,000 residents within a 3‑mile radius.; 2,429 sq ft end cap retail space.
    (614) 431-1220
    We can help!
    Listing Contact
    Joseph C Jackson
    Joseph C Jackson
    Real Estate License ID: 2014000204
    Learn More
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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.

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