Build-Ready Commercial Lot with
For Sale
$150,000
1300 Lancaster Avenue Reynoldsburg, Reynoldsburg, OH 43068
Build-ready parcel includes a 900 sq. ft. three-car garage with public utilities already available on-site.
Property Size900 SF
Lot Size0.16 Acres
Price / SF$166.67
Days on Market112
Property Features for 1300 Lancaster Avenue Reynoldsburg
General Information
Standard status
Active
Size
900 SF
Lot size
0.16 Acres
Property subtype
Land
Zoning
Residential
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$766
Building Details
Year Built
1945
Listed By:
Matan Gutwaks
(614) 333-1934
Source:
Mainrealtors
Added: Jul 7
Changed: Oct 25
Last Checked: Jul 7 at 7:17AM
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 Matan Gutwaks
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Investment Insights
Based on property information with market context.
This build-ready lot comes with an existing 900 sq. ft. three-car garage already on-site, offering an immediate enclosed space for storage or workshop use while a development plan is finalized. The property is described as a single undeveloped parcel with public utilities available, which can help streamline the timeline to begin construction.
The site is located in historic Old Reynoldsburg, positioned close to local parks and dining as part of an established, mature residential community. The setting is characterized in the remarks as quiet with mature landscaping, and the property is presented as one of the final remaining undeveloped lots in the area.
For buyers, the combination of a ready-to-build parcel plus an existing garage can be useful for owner-users and developers seeking flexibility. The on-site structure provides immediate utility for vehicle storage and equipment protection, while the availability of public utilities supports moving forward with a future build. The property’s configuration makes it a straightforward option for those looking to develop within an established neighborhood without first coordinating utility access.
The site is located in historic Old Reynoldsburg, positioned close to local parks and dining as part of an established, mature residential community. The setting is characterized in the remarks as quiet with mature landscaping, and the property is presented as one of the final remaining undeveloped lots in the area.
For buyers, the combination of a ready-to-build parcel plus an existing garage can be useful for owner-users and developers seeking flexibility. The on-site structure provides immediate utility for vehicle storage and equipment protection, while the availability of public utilities supports moving forward with a future build. The property’s configuration makes it a straightforward option for those looking to develop within an established neighborhood without first coordinating utility access.
Key Highlights
- .16‑acre build‑ready parcel in historic Old Reynoldsburg with public utilities available on‑site
- Includes a 900 sq. ft. 3‑car garage already on the property
- Garage can support workshop use, car storage, or high‑value storage while you build
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,698
Cap Rate
8.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$253,960
$254.0K
Cap Rate 7%
$181,400
$181.4K
Cap Rate 9%
$141,089
$141.1K
Market Conditions
NOI Build-Up for 900 SF
Gross rent
$19.7K $21.84/SF
− Vacancy
−$4.7K −$5.24/SF
EGI
$14.9K $16.60/SF
− OpEx
−$2.2K −$2.49/SF
NOI
$12.7K $14.11/SF
Area
Franklin County, OH
Vacancy
24.00%
Lease Rate
$21.84 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$253,960
Cap Rate 7%
$181,400
Cap Rate 9%
$141,089
Alternative Uses
Best Use
Warehouse
$181.4K
$158.7K – $211.6K
NOI $12,698 @ 7.0% cap · market cap 8.47%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$183.5K
$160.6K – $214.1K
NOI $12,844 @ 7.0% cap · market cap 8.56%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
701
Businesses Nearby
Explore this area
Business Placement
Demographics for 43068, OH
59,585
Population
25,294
Households
2.4
Avg Household Size
36
Median Age
30%
College-Educated
91%
High-School Grad
19.6 sq mi
ZIP Area
3,040
Density / Sq Mi
$70,451
Median Household Income
$42,327
Median Earnings
$1,214
Median Rent
$225,500
Median Home Value
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Residential land & home lot - Build-ready parcel includes a 900 sq. ft. three-car garage with public utilities already available on-site.
Where is this residential land & home lot located?
The property is located at 1300 Lancaster Avenue Reynoldsburg Reynoldsburg, OH.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: .16‑acre build‑ready parcel in historic Old Reynoldsburg with public utilities available on‑site; Includes a 900 sq. ft. 3‑car garage already on the property; Garage can support workshop use, car storage, or high‑value storage while you build
