Build-Ready Land with 3-Car
For Sale
$150,000
1300 Lancaster Avenue Reynoldsburg, Reynoldsburg, OH 43068
Build-ready parcel with an existing 3-car, 900-square-foot garage and public utilities available for development.
Property Size900 SF
Lot Size0.16 Acres
Price / SF$166.67
Days on Market29
Property Features for 1300 Lancaster Avenue Reynoldsburg
General Information
Standard status
Active
Size
900 SF
Lot size
0.16 Acres
Property subtype
Land
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$766
Amenities
No
Public
0.16
Building Details
Year Built
1945
Listing Agency:
(614) 660-5959
Listed By:
Neil (Tony) Mason
(614) 660-5959
Source:
Movenowohio
Added: Jul 12
Changed: Aug 8
Last Checked: Jul 12 at 1:02PM
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 Neil (Tony) Mason
Investment Insights
Based on property information with market context.
This build-ready parcel at 1300 Lancaster Avenue in Reynoldsburg, OH includes an existing 900-square-foot, 3-car garage on-site. The property is described as having all public utilities available, which may help reduce lead time when planning a new build.
Located in “Old Reynoldsburg,” the site is presented as being close to local history, parks, and dining, with surrounding mature landscaping noted in the remarks.
Located in “Old Reynoldsburg,” the site is presented as being close to local history, parks, and dining, with surrounding mature landscaping noted in the remarks.
Key Highlights
- Build‑ready 0.16‑acre parcel in historic Old Reynoldsburg with public utilities available
- Existing 3‑car, 900 sq. ft. garage on‑site for workshop, vehicle storage, or high‑value storage
- Water source is public
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$12,698
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.47%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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.
Property Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
187
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Build-ready parcel with an existing 3-car, 900-square-foot garage and public utilities available for development.
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: Build‑ready 0.16‑acre parcel in historic Old Reynoldsburg with public utilities available; Existing 3‑car, 900 sq. ft. garage on‑site for workshop, vehicle storage, or high‑value storage; Water source is public
