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    4500 Groves Rd Columbus, OH 43232

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    For Lease
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    41,640 SF warehouse on 28.5-acre fenced lot for lease.

    Type:Industrial
    Property size:
    41,640 SF
    Lot size:
    28.50 Acres
    Added:
    Apr 1, 2026
    Days on Market:
    22
    Last Refresh:
    Apr 1 at 11:44 am

    Property Features for 4500 Groves Rd

    General Information

    Standard status
    Active
    Size
    41,640 SF
    Lot size
    28.50 Acres
    Property subtype
    Industrial

    Building Details

    Year Built
    1969

    Spaces For Lease

    at 4500 Groves Rd Contact us

    We can help!

    Listing Contact
    Dan Sheeran
    Dan Sheeran

    Listing agent Dan Sheeran License #2016006190

    Listing office NAI Ohio Equities

    Listing date Apr 1, 2026

    Source Naiglobal

    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 NAI Ohio Equities

    Overview

    Industrial Warehouse on Fenced Lot

    This 41,640 SF industrial warehouse is available for lease. It is situated on a 28.5-acre fenced lot with gated access. The facility features 4 dock doors and 2 drive-in doors, with a clear height of 30 feet. The property offers expansion potential with approximately 7 acres of trailer parking. The facility also benefits from a new roof installed in 2020. The property is well-maintained and highly functional. The warehouse is divisible for multiple users, with approximately 21,960 SF located in Space A and approximately 19,680 SF located in Space B. Spaces can be leased separately. The property is improved with electric hookups and a new sprinkler system. It also features new LED motion-activated lighting and a repair facility. The property is zoned M1 Industrial.
    Location Intelligence

    Current Use by Public Records

    Coca-Cola Vending Big Box & Wholesale Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    • Public Storage — 4511 Eastland Dr, Columbus, OH 43232
    • Pac-Van Storage & Office Solutions — 2154 Cloverleaf St E, Columbus, OH 43232
    • Marshall Acquistions Storage Lot — 4677 Groves Rd, Columbus, OH 43232
    • Jenny Storage Units - Cheap Self Storage Near You — 2520 s hamilton rd, columbus, oh 43232
    • Crozet Self Storage Unit — 4245 Macsway Ave, Columbus, OH 43232

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Delaware
    State
    Ohio
    Longitude
    -82.8742898
    Latitude
    39.9304354

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    FAQs

    What type of property is this?
    Warehouse - 41,640 SF warehouse on 28.5-acre fenced lot for lease.
    Where is this warehouse located?
    The property is located at 4500 Groves Rd Columbus, OH.
    What are key features of this property?
    This property features: Large 41,640 SF industrial warehouse on a 28.5‑acre fenced lot with gated access.; Approximately 7 acres of trailer parking with electric hookups.; Divisible for multiple users with spaces that can be leased separately.
    (614) 581-2434
    We can help!
    Listing Contact
    Dan Sheeran
    Dan Sheeran
    Real Estate License ID: 2016006190
    Learn More
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    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
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