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

    2441 S Limestone St Springfield, OH 45505

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    39+ acres of commercial development land in Springfield, Ohio.

    Lot size:
    39.17 Acres

    Property Features for 2441 S Limestone St

    General Information

    Lot size
    39.17 Acres

    We can help!

    Listing Contact
    Patrick Williams
    Patrick Williams
    Source: Cbcworldwide

    Listing Agent: Patrick Williams

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

    Learn more

    Overview

    Commercial Development Land Opportunity

    This commercial real estate offering consists of 39.17 acres of land suitable for development. The property is located at the intersection of I-70 and SR-72 in Springfield, Ohio.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Clark
    State
    Ohio
    Longitude
    -83.8037721
    Latitude
    39.9560871

    Nearby Similar for Sale

    • $129,000
      660 SF

      Commercial Property with High Visibility

      Commercial property with high visibility, suitable for auto repair.
      1029 Mitchell Blvd, Springfield, OH 45503
      View Details
    • New
      $690,000
      6,468 SF

      Renovated Duplex - Self-Care Beauty Multi-Plex

      Newly renovated duplex transformed into a self-care beauty multi-plex.
      1701 Lexington Ave, Springfield, OH 45505
      View Details
    • $324,900
      2,886 SF

      Well-Maintained Duplex in Clark Shawnee

      Rare duplex in a quiet cul-de-sac with investment appeal.
      2076 Stowe Dr, Springfield, OH 45505
      View Details
    • $335,000
      4,236 SF

      Restored Historic Springfield Triplex

      Triplex with restored original details and owner-occupant opportunity.
      250 S Douglas Ave, Springfield, OH 45505
      View Details
    • $104,900
      1,328 SF

      Springfield Commercial Opportunity

      Commercial property in Springfield, Ohio, suitable for various uses.
      1901 Mechanicsburg Rd, Springfield, OH 45503
      View Details
    • $169,000
      1,378 SF

      Springfield Duplex: Investment Opportunity

      Two-unit property near amenities, offering rental income potential.
      1866 Maiden Ln, Springfield, OH 45504
      View Details
    • $295,000
      3,506 SF

      Springfield Multifamily Income Property

      Six-unit building in Historic District, generating $3,200 monthly income.
      411 S Limestone St, Springfield, OH 45505
      View Details
    • $690,000
      6,468 SF

      Renovated Springfield Duplex: Beauty Multi-Plex

      Newly renovated duplex in Springfield, OH, as a self-care beauty multi-plex.
      1701 Lexington Ave, Springfield, OH 45505
      View Details
    • New
      $195,000
      Pending

      Multi-Family Property on Large Lot

      Multi-family property with two units on a 0.55-acre lot.
      1724 S Belmont Ave, 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 Rd, Springfield, OH 45506
      View Details
    • $150,000
      2,304 SF

      Springfield Duplex: Investment Opportunity

      Affordable duplex with upside potential in established Springfield neighborhood.
      1906-1908 W High St, Springfield, OH 45506
      View Details
    • New
      $149,000
      2,373 SF

      Solid Duplex on Corner Lot

      Duplex with parking lot, long-term tenant, and flexible main level.
      1223 Lagonda Ave, Springfield, OH 45503
      View Details

    FAQs

    What type of property is this?
    Commercial land - 39+ acres of commercial development land in Springfield, Ohio.
    Where is this commercial land located?
    The property is located at 2441 S Limestone St Springfield, OH.
    What is the asking price?
    The asking price for this property is $1.00.
    What are key features of this property?
    This property features: - 39.17 acres of commercial development land; - Located at I-70 & SR-72, a prime location; - Commercial development opportunity in Springfield, Ohio
    (937) 360-9952
    Request Owner's contact information
    2441 S Limestone St Springfield, OH 45505
    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.
    2441 S Limestone St
    Springfield, OH 45505
    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
    2441 S Limestone St Springfield, OH 45505
    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

    We can help!
    Listing Contact
    Patrick Williams
    Patrick Williams
    Real Estate License ID: 2020005690
    (937) 360-9952 (937) 322-0352
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!