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

    Mitchell Boulevard Springfield, OH 45503

    View on Map
    Claim this Listing
    Picture of Commercial land at Mitchell Boulevard, Springfield, OH
    For Sale
    $89,900

    LAND - Springfield, OH

    Lot size:
    1.52 Acres
    Added:
    Jul 17, 2025
    Days on Market:
    273
    Last Refresh:
    Apr 15 at 12:06 am

    Property Features for Mitchell Boulevard

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    3400700030301012
    Lot size
    1.52 Acres

    Taxes and HOA fees

    Tax Year
    2025

    We can help!

    Listing Contact
    Charlene Roberge
    Charlene Roberge

    Listing agent Charlene Roberge License #2006004954

    Listing office Lagonda Creek Real Estate, LLC 2685 Derr Road, Springfield, OH

    Listing date Jul 17, 2025

    MLS# 1040142 Listing URL

    Copyright © 2026 West Metro Board of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Springfield Land on Mitchell Boulevard

    This 1.521-acre property, comprised of two parcels soon to be one, features approximately 200 feet of road frontage on Mitchell Boulevard. Located in Springfield, Ohio, the parcels, identified as 3400700030301012 and 3400700030100060, are zoned Light Industrial (I-LD) District.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Springfield
    County
    Clark
    State
    Ohio
    Longitude
    -83.788984
    Latitude
    39.940684

    Nearby Similar for Sale

    • $950,000
      4,562 SF

      Springfield Car Wash Opportunity

      Longest running car wash in Springfield with redevelopment potential.
      927 W Columbia Street, Springfield, OH 45504
      View Details
    • $314,900
      2,886 SF

      Well-Maintained Duplex in Clark Shawnee

      Spacious duplex in a desirable school district, great investment.
      2076-2078 Stowe Drive, Springfield, OH 45505
      View Details
    • $1,179,000
      10,860 SF

      Dollar General on 6.12 Acres

      10,860 SF Dollar General on 6.12 acres for sale.
      3822 Springfield Xenia Road, Springfield, OH 45506
      View Details
    • $735,000

      Springfield Mobile Home Community

      24-site mobile home community with high occupancy and income potential.
      2730 E Main Street, Springfield, OH 45503
      View Details
    • $335,000
      4,236 SF

      Restored Historic Springfield Triplex

      Triplex with restored original details and owner-occupant opportunity.
      250 S Douglas Avenue, Springfield, OH 45505
      View Details
    • $154,900
      2,880 SF

      Renovated Commercial Building in Springfield

      Completely renovated commercial building with original charm, ready for business.
      501 York Street, Springfield, OH 45505
      View Details
    • $185,000
      2,112 SF

      Well-Maintained Duplex Investment Opportunity

      Solid investment with updates, private entrances, and tenant appeal.
      263 N Isabella Street, Springfield, OH 45504
      View Details
    • $169,000
      1,378 SF

      Springfield Duplex: Investment Opportunity

      Two-unit property near amenities, offering rental income potential.
      1866 Maiden Lane, Springfield, OH 45504
      View Details
    • $169,900

      Springfield Duplex Near Wittenberg University

      Well-maintained duplex near campus, shopping, and dining with instant income.
      1107 N Fountain Avenue, Springfield, OH 45504
      View Details
    • $208,000
      2,800 SF

      Spacious Craftsman Duplex Investment Opportunity

      Updated duplex with craftsman details, ideal for real estate investment.
      469 E Cecil Street, Springfield, OH 45503
      View Details
    • $139,900
      2,373 SF

      Solid Duplex on Corner Lot

      Duplex with parking lot, long-term tenant, and flexible main level.
      1223 Lagonda Avenue, Springfield, OH 45503
      View Details
    • $55,000
      1,867 SF

      Victorian Duplex in Established Neighborhood

      Spacious duplex with renovation potential in Springfield, Ohio.
      727 W High Street, Springfield, OH 45506
      View Details

    FAQs

    What type of property is this?
    Commercial land - 1.52 acre commercial land for sale in Springfield, Ohio.
    Where is this commercial land located?
    The property is located at Mitchell Boulevard Springfield, OH.
    What is the asking price?
    The asking price for this property is $89,900.
    What are key features of this property?
    This property features: 1.521 acres total land area; Boasting 200 feet of road frontage on Mitchell Boulevard; Zoned Light Industrial (I‑LD) District
    (937) 342-9995
    We can help!
    Listing Contact
    Charlene Roberge
    Charlene Roberge
    Real Estate License ID: 2006004954
    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!