Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Updated Granville Property with Charm Title is generated by Realmo AI

    124 S Pearl St, Granville, OH 43023

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $3,000 /Mo

    Updated property blending historic charm with modern convenience in Granville.

    Type:Office
    Added:
    Mar 6, 2026
    Days on Market:
    74
    Last Refresh:
    Apr 5 at 11:52 pm

    Property Features for 124 S Pearl St

    General Information

    Standard status
    Active
    Property subtype
    Office

    Building Details

    Year Built
    1904

    Spaces For Lease

    at 124 S Pearl St Contact us

    We can help!

    Listing Contact
    Brandon Hess
    Brandon Hess

    Listing agent Brandon Hess

    Listing office SHAI-Hess Commercial Real Estate

    Listing date Mar 6, 2026

    Source Shai-hess

    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 SHAI-Hess Commercial Real Estate

    HighLights

    • Flexible use: Suitable as either a residential home or commercial office space.
    • Historic charm: Built in 1904 with original woodwork and gleaming wood floors.
    • Updated with modern convenience: Blends historic features with modern updates.
    • Desirable location: Located in Granville, a picturesque New England‑style village near Columbus, Ohio.
    • Spacious kitchen: Includes a spacious kitchen on the main level.
    • Convenient layout: Features both front and back staircases for easy access.

    Overview

    Located at 124 Pearl Street in Granville, Ohio, this updated property combines historic charm with modern convenience. Constructed in 1904, the building retains original woodwork and wood floors. The property offers flexible use as either a residential home or commercial office space. The main level features a spacious kitchen, a half bath with laundry facilities, and front and back staircases. Granville, a New England-style village in central Ohio, is situated 30 miles east of Columbus. The area is known for tree-lined streets, historic architecture, and a welcoming atmosphere. Local boutiques, cafes, and restaurants are located near the Historic Buxton Inn.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Granville
    County
    Licking
    State
    Ohio
    Longitude
    -82.5166
    Latitude
    40.0686

    Nearby Similar for Lease

    • $3,500/Mo
      11,360 SF

      Retail Space on Columbus Road

      Retail space for rent in Granville Township, Licking County.
      1810 Columbus Rd, Granville, OH
      View Details
    • Contact for pricing
      2,250 SF

      Modern Office and Warehouse Space

      New office and warehouse space near Intel facilities for lease.
      5239 Columbus Rd, Granville, OH
      View Details
    • Contact for pricing

      Medical Office Space Available

      Medical office space for rent with multiple exam rooms.
      2750 Newark Granville Road, Granville, OH, 43023
      View Details

    FAQs

    What type of property is this?
    Office units - Updated property blending historic charm with modern convenience in Granville.
    Where is this office units located?
    The property is located at 124 S Pearl St Granville, OH.
    What is the lease rate?
    The lease rate is $3,000 /Mo.
    What are key features of this property?
    This property features: Flexible use: Suitable as either a residential home or commercial office space.; Historic charm: Built in 1904 with original woodwork and gleaming wood floors.; Updated with modern convenience: Blends historic features with modern updates.
    (740) 587-7441
    We can help!
    Listing Contact
    Brandon Hess
    Brandon Hess
    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
    124 S Pearl St, Granville, OH 43023
    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!