Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    18.6 Acres on Troutman Road Title is generated by Realmo AI

    5201 U.S 23, Delaware, OH

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    18.6 acres with frontage on US 23 and Troutman Road.

    Type:LAND
    Lot size:
    18.60 Acres
    Added:
    Mar 3, 2025
    Days on Market:
    457
    Last Refresh:
    May 20 at 8:43 pm

    Property Features for 5201 U.S 23

    General Information

    Standard status
    Active
    Lot size
    18.60 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Douglas D. Smith

    Listing agent Douglas D. Smith License #2018005015

    Listing office Westwood Commercial Real Estate

    Listing date Mar 3, 2025

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Westwood Commercial Real Estate

    HighLights

    • Hard corner location with 820’ frontage on US 23 and 1,000’ frontage on Troutman Road.
    • High traffic count: 29,000+ vehicles per day on US 23.
    • 18.6 Total Acres of land.
    • Utilities available: Electric, Del‑Co Water, Natural Gas.
    • Across from Delaware State Park (signalized intersection).
    • Existing boat and RV storage on 7 acres provides potential income during development.

    Overview

    The property features 18.6 total acres of land with a hard corner on Troutman Road. It has 820 feet of frontage on US 23 and 1,000 feet of frontage on Troutman Road. The location benefits from a traffic count of over 29,000 vehicles per day on US 23. Utilities available include electric, Del-Co Water, and natural gas. The property is situated across US 23 from Delaware State Park at a signalized intersection and across Troutman Road from RV wholesalers, which include boat and RV storage. The 7-acre portion of the property currently has boat and RV storage, which could be continued during an extended development process for additional income or incorporated into a new development and expanded.
    Location Intelligence

    Current Use by Public Records

    Land

    Map

    City
    Delaware
    County
    Delaware
    State
    Ohio
    Longitude
    -83.068
    Latitude
    40.2987

    Nearby Similar for Sale

    • $599,000
      4,080 SF

      Delaware Industrial Warehouse with Office

      Industrial warehouse with office space and fenced lot for sale.
      237 Curtis Street, Delaware, OH 43015
      View Details
    • $799,900

      Redevelopment Opportunity Near OWU

      Multi-use building with redevelopment potential in a high-demand area.
      28 S Franklin Street, Delaware, OH 43015
      View Details
    • $699,000
      3,722 SF

      Renovated Office Building on Sandusky

      Stand-alone office building in booming Delaware city community.
      611 S Sandusky St, Delaware, OH
      View Details
    • $399,900

      Delaware, OH Land Parcel

      5-acre wooded homesite near Delaware with utilities ready for building.
      5387 Dildine Road, Delaware, OH 43015
      View Details
    • $558,000

      Heavily Wooded 5-Acre Parcel

      Private, wooded 5-acre parcel near Dublin and Powell, Ohio.
      6600 Home Road, Delaware, OH 43015
      View Details
    • $189,900

      2.5-Acre Homesite in Delaware, OH

      2.5-acre lot with utilities and outbuilding ready for building.
      2769 Shoemaker Road, Delaware, OH 43015
      View Details
    • $225,000

      Residential Land in Delaware, Ohio

      1.2 acre lot ready for new home construction.
      Ford Road, Delaware, OH 43015
      View Details
    • $1,500,000
      5,239 SF

      Downtown Retail Investment Opportunity

      5,239 SF retail property in downtown Delaware, OH.
      27 -31 N Sandusky St, Delaware, OH 43015
      View Details
    • $479,000

      Acreage Ready for Your Dream Home

      7.10-acre lot ready for construction in Delaware, Ohio.
      2112 Horseshoe Road, Delaware, OH 43015
      View Details
    • $1,700,000
      6,651 SF

      Established Restaurant Space For Sale

      Thriving restaurant property with high foot traffic in downtown Delaware.
      66 N Sandusky St, Delaware, OH 43015
      View Details
    • $680,000

      Freestanding Retail Building with Event Spaces

      Retail building with bar, event spaces, and kitchen for sale.
      1400 Stratford Road, Delaware, OH 43015
      View Details
    • $395,000

      Residential Land in Delaware, OH

      8.36 acres of land perfect for building a home.
      1817 Lawrence Road, Delaware, OH 43015
      View Details

    FAQs

    What type of property is this?
    Land - 18.6 acres with frontage on US 23 and Troutman Road.
    Where is this land located?
    The property is located at 5201 U.S 23 Delaware, OH.
    What is the asking price?
    The asking price for this property is $3,627,000.
    What are key features of this property?
    This property features: Hard corner location with **820’ frontage on US 23 and 1,000’ frontage on Troutman Road.**; **High traffic count: 29,000+ vehicles per day on US 23.**; 18.6 Total Acres of land.
    (614) 869-7139 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Douglas D. Smith
    Real Estate License ID: 2018005015
    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

    Thank You for Inquiry
    5201 U.S. 23, Delaware, OH
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!