Multifamily Development Land
For Sale
$2,376,000
Pending
2345 Demorest Road, Grove City, OH 43123
Approximately 11 acres ideal for multifamily development in Grove City.
Property Size479,160 SF
Days on Market701
Property Features for 2345 Demorest Road
General Information
Standard status
Pending
Size
479,160 SF
Property subtype
Land / Land
Taxes and HOA fees
Annual Taxes
$4,888
Listing Agency:
Hanna Commercial, LLC
Listed By:
Douglas T Tenenbaum · License #2003006998
(614) 554-4408
Source:
Compass
Added: Oct 23, 2024
Changed: Sep 10
Last Checked: Sep 22 at 8:21PM
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 Hanna Commercial, LLC
Investment Insights
Based on property information with market context.
This is an opportunity to acquire approximately 11 acres, to be split from a larger 19.926-acre parcel, located in Jackson Township, Franklin County. Contiguous to the City of Columbus, the site is suitable for annexation and zoning for multifamily development and is eligible for the Citywide CRA. The property is located within the South-Western City School District. Water and sanitary utilities are available in the immediate area. The site is less than a mile from South-Western Central Crossing High School, Pleasant View Middle School, Holt Crossing Intermediate School, Bolton Crossing Elementary, and South-Western Career Academy. Situated in the southwest Columbus/Grove City submarket, the property lies just north of Big Run South Road and south of Alkire Road and I-270. The average daily traffic count in 2023 was 6,812. The topography of the land is level. The surrounding area has strong demographics, with a 1-mile radius showing a population of 8,969, an average household income of $100,000, and a median household income of $82,400. Within a 3-mile radius, the population is 86,794, with an average household income of $85,400 and a median household income of $67,600. A 5-mile radius encompasses a population of 180,736, with an average household income of $87,000 and a median household income of $70,000.
Key Highlights
- Ideal for multifamily development, eligible for Citywide CRA, with potential for annexation and zoning by the City of Columbus.
- Excellent location in the desirable southwest Columbus/Grove City submarket, near I‑270 and contiguous to the City of Columbus.
- Strong demographics with high average and median household incomes.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
58
Businesses Nearby
Explore this area
Business Placement
Demographics for 43123, OH
66,188
Population
27,876
Households
2.4
Avg Household Size
39
Median Age
31%
College-Educated
91%
High-School Grad
59.7 sq mi
ZIP Area
1,109
Density / Sq Mi
$87,883
Median Household Income
$49,747
Median Earnings
$1,279
Median Rent
$262,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Land - Approximately 11 acres ideal for multifamily development in Grove City.
Where is this land located?
The property is located at 2345 Demorest Road Grove City, OH.
What is the asking price?
The asking price for this property is $2,376,000.
What are key features of this property?
This property features: Ideal for multifamily development, eligible for Citywide CRA, with potential for annexation and zoning by the City of Columbus.; Excellent location in the desirable southwest Columbus/Grove City submarket, near I‑270 and contiguous to the City of Columbus.; Strong demographics with high average and median household incomes.
