Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Vacant Agricultural Land Opportunity Title is generated by Realmo AI

    Greencrest Wy, Lancaster, OH

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

    Vacant agricultural land near downtown Lancaster, OH.

    Type:LAND
    Lot size:
    25.03 Acres
    Added:
    Jun 26, 2024
    Days on Market:
    683
    Last Refresh:
    Apr 5 at 10:24 pm

    Property Features for Greencrest Wy

    General Information

    Standard status
    Active
    Lot size
    25.03 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    John Royer, SIOR

    Listing agent John Royer, SIOR

    Listing office Kohr Royer Griffith, Inc.

    Listing date Jun 26, 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 Kohr Royer Griffith, Inc.

    HighLights

    • Vacant agricultural land totaling 25.03 acres.
    • Located in the River Valley Highlands area.
    • Proximity to downtown Lancaster, OH.
    • Opportunity for development or agricultural use.
    • Close to major retailers.
    • Near financial institutions and restaurants.

    Overview

    This vacant agricultural land is situated in the River Valley Highlands area, near downtown Lancaster, OH. The property on Greencrest Way consists of 18.8 acres, and the property on Olde Ridge Avenue consists of 6.23 acres. The site is located within a mile of several major retailers, financial institutions, and restaurants.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Agricultural land / Farmland

    Map

    City
    Lancaster
    County
    Fairfield
    State
    Ohio
    Longitude
    -82.6298
    Latitude
    39.7459

    Nearby Similar for Sale

    • $219,900
      1,432 SF

      Renovated Commercial Building in Lancaster

      Fully renovated commercial building suitable for various business ventures.
      117 E 6th Avenue, Lancaster, OH 43130
      View Details
    • $350,000
      1,260 SF

      High Profile Corner Retail Property

      Eastside Lancaster corner property near medical offices and Fairfield Medical Center.
      1301 E Main Street, Lancaster, OH 43130
      View Details
    • $337,500
      2,448 SF

      Two Houses, Great Investment Opportunity

      Two meticulously maintained homes, ready to rent or for family.
      859 E Mulberry Street, Lancaster, OH 43130
      View Details
    • $475,000
      3,445 SF

      Lancaster East Side Office Building

      Former medical office with remodeled interior and upstairs apartment.
      435 E Main Street, Lancaster, OH 43130
      View Details
    • $1,149,900
      3,310 SF

      Versatile Farm and Estate Opportunity

      47.9-acre farm with residence, commercial building, and recreational amenities.
      2145 West Point Road, Lancaster, OH 43130
      View Details
    • $460,000

      Scenic Land Parcel Near Golf

      25 acres of versatile land near Lancaster Golf Club.
      BIS Road SW, Lancaster, OH 43130
      View Details
    • $63,530

      Residential Land in Established Community

      Buildable lot in desirable Lancaster neighborhood for custom home.
      Ridgewood Way NE, Lancaster, OH 43130
      View Details
    • $178,000

      Lancaster Quadplex: Investor Special

      Quadplex near downtown Lancaster with income potential.
      143 W Mulberry Street, Lancaster, OH 43130
      View Details
    • $138,500

      Residential Land in Lancaster, OH

      Almost 2 acres, ready for a new home.
      1205 Sheridan Drive, Lancaster, OH 43130
      View Details
    • $399,000

      18-Acre Lot with Golf Features

      Beautiful 18-acre lot with golf features near downtown Lancaster.
      160 Coonpath Road NE, Lancaster, OH 43130
      View Details
    • $2,650,000
      9,954 SF

      Lancaster Medical Office Investment Opportunity

      Single-tenant medical office building leased through 2032.
      1781 Countryside Dr, Lancaster, OH
      View Details
    • $690,000

      Lancaster Industrial Land For Sale

      8.6+/- acres of industrial land with rail exposure.
      Quarry Road SE, Lancaster, OH 43130
      View Details

    FAQs

    What type of property is this?
    Land - Vacant agricultural land near downtown Lancaster, OH.
    Where is this land located?
    The property is located at Greencrest Wy Lancaster, OH.
    What is the asking price?
    The asking price for this property is $425,000.
    What are key features of this property?
    This property features: Vacant agricultural land totaling 25.03 acres.; Located in the River Valley Highlands area.; Proximity to downtown Lancaster, OH.
    (614) 228-2471 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    John Royer, SIOR
    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
    Greencrest Wy, Lancaster, 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!