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    Prime Land Investment Opportunity Title is generated by Realmo AI

    13347 U S 23, Ashville, OH 43103

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    40 acres in the Columbus area with retail potential.

    Type:Land
    Property size:
    40 SF
    Added:
    Nov 21, 2025
    Days on Market:
    189
    Last Refresh:
    May 8 at 10:54 pm

    Property Features for 13347 U S 23

    General Information

    Standard status
    Active
    Size
    40 SF
    Property subtype
    Land

    Building Details

    Year Built
    2007

    We can help!

    Listing Contact
    John Mally
    John Mally

    Listing agent John Mally License #2013004679

    Listing office NAI Ohio Equities

    Listing date Nov 21, 2025

    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

    HighLights

    • 40 acres in the prime Columbus area with commercial zoning potential
    • 1,990 feet of road frontage on US‑23A, offering high visibility and access
    • Located next to the new ODOT rest stop, enhancing retail potential
    • Proximity to a growing residential market and a strong labor market
    • Sewer access available next door at the Ohio Rest Area site
    • Located 25 minutes south of downtown Columbus and 4.5 miles from Rickenbacker Airport

    Overview

    This 40-acre property, located at 13347 U S 23, Ashville, OH 43103, presents an investment opportunity in the Columbus area. Constructed in 2007, the property is zoned (101) A - CASH GRAIN OR GENERAL FARM, offering potential for land or industrial development. It features approximately 1,990 feet of road frontage on US-23A, providing visibility and access for retail endeavors. The location is situated in the Village of South Bloomfield, along U.S. 23 in Ashville, OH, just north of South Bloomfield, in the growing Pickaway County, and approximately 4.5 miles from Rickenbacker Airport. The property is approximately 18 miles (or 25 minutes) south of downtown Columbus, OH. Its proximity to the new ODOT rest stop and the growing residential market enhances its appeal. The location benefits from a strong labor market. Sewer access is available at the neighboring Ohio Rest Area site, and water is located 1 mile south at SR-752. Eleven acres of this property are zoned commercial.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Ashville
    County
    Pickaway
    State
    Ohio
    Longitude
    -82.9134
    Latitude
    39.7281

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    FAQs

    What type of property is this?
    Land - 40 acres in the Columbus area with retail potential.
    Where is this land located?
    The property is located at 13347 U S 23 Ashville, OH.
    What are key features of this property?
    This property features: 40 acres in the prime Columbus area with commercial zoning potential; **1,990 feet of road frontage on US‑23A, offering high visibility and access**; Located next to the new ODOT rest stop, enhancing retail potential
    (614) 570-7804
    We can help!
    Listing Contact
    John Mally
    John Mally
    Real Estate License ID: 2013004679
    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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