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

    6205 Hoover Rd Grove City, OH

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Land available near London Groveport Road and Hoover Road.

    Type:LAND
    Lot size:
    1.50 Acres
    Added:
    Jul 18, 2024
    Days on Market:
    645
    Last Refresh:
    Apr 5 at 8:49 pm

    Property Features for 6205 Hoover Rd

    General Information

    Standard status
    Active
    Lot size
    1.50 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Steve Holzer
    Steve Holzer

    Listing agent Steve Holzer

    Listing office Commercial One Realty, Inc.

    Listing date Jul 18, 2024

    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 Commercial One Realty, Inc.

    Overview

    Land Adjacent to CVS Pharmacy

    This commercial land is located adjacent to a CVS Pharmacy at the southwest corner of London Groveport Road (Rt. 665) and Hoover Road in Grove City, Ohio. The property is currently situated in Jackson Township. The seller is willing to allow a buyer time to annex and zone the property within Grove City.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Grove City
    County
    Franklin
    State
    Ohio
    Longitude
    -83.074
    Latitude
    39.8373

    Nearby Similar for Sale

    • $850,000

      Grove City Land For Sale

      0.699 acre commercial land with tax abatement in Grove City.
      Broadway, Grove City, OH 43123
      View Details
    • $182,000

      Grove City Land Opportunity

      Land available in Grove City, suitable for residential or commercial.
      2120 Edwards Road, Grove City, OH 43123
      View Details
    • $179,000

      Grove City Land with Garages

      Half-acre lot with well, septic, and two garages.
      2782 Sandusky Street, Grove City, OH 43123
      View Details
    • $210,000

      Residential Land in Grove City

      Two acres of residential land for building a dream home.
      5 Norton Road, Grove City, OH 43123
      View Details
    • $1,100,000
      2,552 SF

      Prime Retail Building in Grove City

      Retail building for sale or lease on a busy intersection.
      3586 Southwest Blvd, Grove City, OH
      View Details
    • $2,846,000
      3,027 SF

      New Freddy's Build-to-Suit Restaurant

      New 20-year NNN lease Freddy's restaurant for sale.
      4264 Buckeye Pkwy, Grove City, OH
      View Details
    • $4,200,000
      47,332 SF

      Grove City Industrial Property

      47,332 SqFt industrial property available for sale.
      2455 Harrisburg Pike, Grove City, OH 43123
      View Details
    • Contact for pricing
      10,972 SF

      Luxury Pet Resort For Sale

      New 10,972 SF luxury pet resort with long-term lease.
      1280 Stringtown Rd, Grove City, OH
      View Details
    • $182,000

      Land For Sale

      Land available in Grove City, Ohio.
      2120 Edwards Road, Grove City, OH 43123
      View Details
    • $1,200,000

      Prime Land in Grove City

      5.33 acres in proposed Southwest Regional Medical and Innovation Gateway.
      5875 Haughn Rd, Grove City, OH, 43123-4042
      View Details
    • $500,000

      Land For Sale

      Land available for sale in Grove City, Ohio.
      4671 Harrisburg Pike, Grove City, OH
      View Details
    • $349,900
      12,656 SF

      Turnkey Coin Laundry in Grove City

      High-performing coin laundry with secure lease through March 2030.
      4310 Broadway #A, Grove City, OH 43123
      View Details

    FAQs

    What type of property is this?
    Land - Land available near London Groveport Road and Hoover Road.
    Where is this land located?
    The property is located at 6205 Hoover Rd Grove City, OH.
    What is the asking price?
    The asking price for this property is $600,000.
    What are key features of this property?
    This property features: Located adjacent to CVS Pharmacy; Corner lot at London Groveport Road (Rt. 665) & Hoover Road; Located in Grove City
    (614) 324-6718 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Steve Holzer
    Steve Holzer
    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!