Commercial Land with Service
For Sale
$700,000
1250 Collins Rd NW, Lancaster, OH 43130
2.43-acre commercial lot with a centrally located building featuring three garage bays, office space, and a bathroom.
Property Size2,580 SF
Lot Size2.43 Acres
Price / SF$271.32
Days on Market96
Property Features for 1250 Collins Rd NW
General Information
Standard status
Active
Size
2,580 SF
Lot size
2.43 Acres
Additional Details
Highway Access
Yes
Service Bays
3
Building Details
Year Built
1980
Listing Agency:
CRT, Realtors
Listed By:
Gary R Mader · License #2018003439
(740) 417-0962
Source:
Dreamcolumbus
Added: Jul 22
Changed: Oct 13
Last Checked: Oct 7 at 4:07PM
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 CRT, Realtors
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Investment Insights
Based on property information with market context.
This for-sale property offers 2.43 acres of commercial land with a large front and back lot. A commercial building sits in the middle of the property and is described as clean and well maintained, totaling 2,600 square feet and including three garage bays, a bathroom, and office space.
The property was recently utilized as a used car/wholesale lot. Current setup is for automotive detail and repair, and the space is described as convertible to fit other needs.
Site layout includes substantial room on both the front and back portions of the property, supporting flexibility for storage, fleet operations, a service garage, or other uses consistent with the existing commercial improvements.
The property was recently utilized as a used car/wholesale lot. Current setup is for automotive detail and repair, and the space is described as convertible to fit other needs.
Site layout includes substantial room on both the front and back portions of the property, supporting flexibility for storage, fleet operations, a service garage, or other uses consistent with the existing commercial improvements.
Key Highlights
- 2.43‑acre commercial property with a large front and back lot
- Centrally located 2,600 SF commercial building with 3 garage bays, a bathroom, and office space
- Building currently set up for automotive detail and repair, with potential to be converted to suit needs
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,977
Cap Rate
4.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$599,540
$599.5K
Cap Rate 7%
$428,243
$428.2K
Cap Rate 9%
$333,078
$333.1K
Market Conditions
NOI Build-Up for 2,580 SF
Gross rent
$56.3K $21.84/SF
− Vacancy
−$13.5K −$5.24/SF
EGI
$42.8K $16.60/SF
− OpEx
−$12.8K −$4.98/SF
NOI
$30.0K $11.62/SF
Area
Fairfield County, OH
Vacancy
24.00%
Lease Rate
$21.84 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$599,540
Cap Rate 7%
$428,243
Cap Rate 9%
$333,078
Alternative Uses
Best Use
Industrial
$428.2K
$374.7K – $499.6K
NOI $29,977 @ 7.0% cap · market cap 4.28%
Second Best
Retail
$141.8K
$124.1K – $165.4K
NOI $9,926 @ 7.0% cap · market cap 1.42%
Theoretical Best
Warehouse
$520.0K
$455.0K – $606.7K
NOI $36,400 @ 7.0% cap · market cap 5.20%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
3
Service bays
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
222
Businesses Nearby
164k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 42%
Dining 35%
Shops & Services 17%
Home Improvements & Furnishings 7%
Meijer
Groceries
68,761 visits/mo
0.3 miles
Texas Roadhouse
Dining
34,797 visits/mo
0.2 miles
Speedway
Shops & Services
14,857 visits/mo
0.3 miles
Steak 'n Shake
Dining
13,338 visits/mo
0.3 miles
Harbor Freight Tools
Home Improvements & Furnishings
10,719 visits/mo
0.2 miles
Demographics for 43130, OH
62,010
Population
26,434
Households
2.3
Avg Household Size
41
Median Age
23%
College-Educated
92%
High-School Grad
164.5 sq mi
ZIP Area
377
Density / Sq Mi
$68,242
Median Household Income
$43,936
Median Earnings
$1,031
Median Rent
$215,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Commercial land - 2.43-acre commercial lot with a centrally located building featuring three garage bays, office space, and a bathroom.
Where is this commercial land located?
The property is located at 1250 Collins Rd NW Lancaster, OH.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 2.43‑acre commercial property with a large front and back lot; Centrally located 2,600 SF commercial building with 3 garage bays, a bathroom, and office space; Building currently set up for automotive detail and repair, with potential to be converted to suit needs
