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    Adaptable Granville Property on Columbus Title is generated by Realmo AI

    1805 Columbus Road, Granville, OH 43023

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    For Sale
    $529,900

    Versatile mixed-use property in Granville, over an acre of land.

    Type:MU
    Property size:
    2,500 SF
    Lot size:
    1.00 Acre
    Price / SF:
    $211/SF
    Added:
    Aug 5, 2025
    Days on Market:
    294
    Last Refresh:
    Apr 3 at 4:58 am

    Property Features for 1805 Columbus Road

    General Information

    Standard status
    Active
    Size
    2,500 SF
    Lot size
    1.00 Acre
    Property subtype
    MU

    Building Details

    Year Built
    1938

    We can help!

    Listing Contact
    Martha Hunley
    Martha Hunley

    Listing agent Martha Hunley License #450518, OH

    Listing office Keller Williams Greater Columbus

    Listing date Aug 5, 2025

    Source Realnex

    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 Keller Williams Greater Columbus

    HighLights

    • Over an acre of land and more than 2,500 SF of space suitable for business or mixed‑use.
    • Set up for two businesses with separate utilities.
    • Excellent road exposure and ample parking.
    • Located in a growing corridor.
    • Large rooms with large windows and abundant light.
    • Hardwood flooring and a decorative fireplace.

    Overview

    Located on Columbus Road in Granville, this adaptable property offers over an acre of land and more than 2,500 square feet of space suitable for various business or mixed-use purposes. The interior features large rooms with ample natural light from large windows, hardwood flooring, and a decorative fireplace. The space is suited for small business operations, workshops, or client-based services. The building is configured to accommodate two businesses, with utilities separated between units A and B. The delineation point is the door at the back of the main hallway. The property benefits from excellent road exposure, ample parking space, and a location in a growing corridor.

    Financial Insights

    Value Estimation Calculated for Retail

    Conservative
    $506.2K
    NOI $45,558 @ 9.00% cap · cautious / downside scenario
    Moderate
    $650.8K
    NOI $45,558 @ 7.00% cap · market / base-case scenario
    Aggressive
    $911.2K
    NOI $45,558 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Retail

    Component $ $/SF
    Gross rent $67.5k $27.00
    − Vacancy −$2.4k −$0.97
    EGI $65.1k $26.03
    − OpEx −$19.5k −$7.81
    NOI $45.6k $18.22
    2,500 SF · lease $27.00/SF/yr · vacancy 3.58% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Retail
    $650.8K
    $569.5K – $759.3K (±1% cap)
    NOI $45,558 @ 7.0% cap · market cap 8.60%
    Second Best
    Mixed Use
    $581.1K
    $508.5K – $678.0K (±1% cap)
    NOI $40,677 @ 7.0% cap · market cap 7.68%
    Theoretical Best
    Flex RnD
    $2.01M
    $1.76M – $2.34M (±1% cap)
    NOI $140,546 @ 7.0% cap · market cap 26.52%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Bath & Biscuits Pet Grooming Service Love and Learning High School

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Auto Repair Shop Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Granville
    County
    Licking
    State
    Ohio
    Longitude
    -82.5336768
    Latitude
    40.056902

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    FAQs

    What type of property is this?
    Mixed-use property - Versatile mixed-use property in Granville, over an acre of land.
    Where is this mixed-use property located?
    The property is located at 1805 Columbus Road Granville, OH.
    What is the asking price?
    The asking price for this property is $529,900.
    What are key features of this property?
    This property features: Over an acre of land and more than 2,500 SF of space suitable for business or mixed‑use.; Set up for two businesses with separate utilities.; **Excellent road exposure and ample parking.**
    (614) 314-5555
    We can help!
    Listing Contact
    Martha Hunley
    Martha Hunley
    Real Estate License ID: 450518, OH
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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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