Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2209 Grewell Road London, OH 43140

    View on Map
    Claim this Listing
    For Sale
    $795,000

    LAND - London, OH

    Lot size:
    23.89 Acres
    Added:
    Oct 21, 2024
    Days on Market:
    554
    Last Refresh:
    Apr 27 at 12:06 am

    Property Features for 2209 Grewell Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    11-00426.000
    Lot size
    23.89 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Annual Amount
    1636

    Building Details

    Year built
    1960

    We can help!

    Listing Contact
    Andrea Dillion

    Listing agent Andrea Dillion

    Listing office e-Merge Real Estate Results 213 S Chillicothe St., Pickerington, OH

    Listing date Oct 21, 2024

    MLS# 224037572 Listing URL

    Copyright © 2026 Columbus and Central Ohio Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    24-Acre Nature Lover's Compound

    This 23.89-acre property is located in London, OH. The property features horse trails that weave through greenery and trees. A creek winds through the property. The property also features mature hunting grounds with abundant wildlife. The property is located across from a protected nature preserve.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Recreation land

    Map

    City
    London
    County
    Madison
    State
    Ohio
    Longitude
    -83.384408
    Latitude
    40.011521

    Nearby Similar for Sale

    • $115,000

      Flexible Space in London, OH

      Versatile property with workshop, storage, and hobby space.
      1125 Roberts Mill Road, London, OH 43140
      View Details
    • $115,000

      Flexible Space in London, OH

      0.3 acre parcel with flexible space for storage/workshop.
      1125 Roberts Mill Road, London, OH 43140
      View Details
    • $789,900

      London, OH Mixed-Use Property

      Mixed-use property with retail and residential units in London, OH.
      50 S Main Street, London, OH 43140
      View Details
    • $7,849,152

      Prime Farmland Opportunity Near London

      436 acres of quality farmland in Madison County, Ohio.
      0 Old Xenia Road SE, London, OH 43140
      View Details
    • $85,000

      Wooded Lot in London, OH

      Wooded lot with lake access and community amenities.
      1730 W Choctaw Drive, London, OH 43140
      View Details
    • $950,000

      London, OH Standalone Building

      Renovated building near I-70 & US 42, suitable for retail.
      1340 US Rt 42, London, OH 43140
      View Details
    • $85,000

      Wooded Lot in Lake Community

      Residential land in a desired lake community, ready to build.
      1730 W Choctaw Drive, London, OH 43140
      View Details
    • $229,000

      Buildable Lot in London, OH

      5.03 acres in a sought-after school district.
      Tract 6 Road, London, OH 43140
      View Details
    • $165,000

      3-Acre Vacant Land Parcel

      Three acres of land suitable for building a home.
      00 Old Xenia Road, London, OH 43140
      View Details
    • $165,000

      Land for Dream Home

      2.448 acres of land near London, Ohio.
      0 Old Xenia Road, London, OH 43140
      View Details
    • $165,000

      Vacant Land in London, OH

      2.8 acres of land suitable for building a home.
      0 Old Xenia Road, London, OH 43140
      View Details
    • $225,000

      Buildable Lot in London, OH

      5.03-acre buildable lot in South-Western City School District.
      Tract 8 Road, London, OH 43140
      View Details

    FAQs

    What type of property is this?
    Recreation land - 24-acre compound perfect for Airbnb or VRBO with horse trails.
    Where is this recreation land located?
    The property is located at 2209 Grewell Road London, OH.
    What is the asking price?
    The asking price for this property is $795,000.
    What are key features of this property?
    This property features: 24‑acre compound ideal for Airbnb or VRBO; Private horse trails throughout the property; Creek for fishing
    (614) 314-0772
    We can help!
    Listing Contact
    Andrea Dillion
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!