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

    2953-2989 Derr Road Springfield, OH

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail suites available in Springfield, anchored by Kroger.

    Type:Retail
    Added:
    Nov 22, 2025
    Days on Market:
    141
    Last Refresh:
    Apr 5 at 8:24 pm

    Property Features for 2953-2989 Derr Road

    General Information

    Standard status
    Active
    Property subtype
    Retail

    We can help!

    Listing Contact
    Luke Streng
    Luke Streng

    Listing agent Luke Streng License #OH 2007004532

    Listing office CBRE | Columbus

    Listing date Nov 22, 2025

    Source Cbre

    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 CBRE | Columbus

    Overview

    Retail Center Suites Available

    Located on the northern edge of Springfield, this retail center serves a heavily residential population as the only retail center within a 2-mile radius. Anchored by Kroger, the center offers visibility and easy access. Ample parking is available, and building signage is an option. Two suites are currently available, one offering 2,250 square feet and the other 2,300 square feet. The City of Springfield provides economic drivers to support retail operators.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Shopping centers

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    • Northland Plaza Shopping Center — 2972 Derr Rd, Springfield, OH 45503
    • Coinstar Kiosk | Bitcoin ATM — Kroger - Cincinnati, 2989 Derr Rd, Springfield, OH 45503

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Clark
    State
    Ohio
    Longitude
    -83.7856
    Latitude
    39.964

    Nearby Similar for Lease

    • Contact for pricing

      Springfield Retail Space For Lease

      8,000 sq ft commercial space ideal for retail.
      1816 S Limestone Street, Springfield, OH 45505
      View Details
    • Contact for pricing

      Springfield Commercial Space For Lease

      2,500 sq ft commercial space in high-visibility Springfield location.
      1814 S Limestone Street, Springfield, OH 45505
      View Details
    • $12/mo

      Springfield Retail/Office Space Available

      4,000 SF retail/office space with high visibility.
      2419 E High Street, Springfield, OH 45505
      View Details
    • $25/mo

      Retail/Office Space on Bechtle Avenue

      Retail or office space in Springfield's main retail corridor.
      1830 North Bechtle Avenue, Springfield, OH, 45504
      View Details
    • Contact for pricing

      Springfield Commons Outparcel Retail Opportunity

      Retail strip center with value-add opportunity in Springfield, Ohio.
      1501 N Bechtle Ave, Springfield, OH
      View Details
    • Contact for pricing

      Springfield Office Space For Rent

      6,000 sqft office space available for lease.
      5 West North Street, Springfield, OH, 45504
      View Details
    • Contact for pricing

      Retail Space Near Major Retailers

      Retail spaces available near major retailers and a hospital.
      1500 Upper Valley Pike, Springfield, OH
      View Details
    • Contact for pricing

      Springfield Office Space Available

      Office space for rent in Springfield, Ohio.
      250 Veronia Dr, Springfield, OH
      View Details
    • Contact for pricing

      Retail Space in Springfield, OH

      Retail space available for lease in Springfield, Ohio.
      2214 N Limestone St, Springfield, OH
      View Details
    • Contact for pricing

      Office Space in Springfield, OH

      Office space available for rent in Springfield, Ohio.
      150 N Limestone St, Springfield, OH
      View Details
    • Contact for pricing

      Warehouse Storage Available

      Warehouse storage space available for rent in Oakwood Village.
      Oakwood Village, OH 44146
      View Details
    • Contact for pricing

      Oakwood Village Warehouse Space

      Warehouse space available in Oakwood Village, built in 2005.
      7401 1st Pl, Oakwood Village, OH
      View Details

    FAQs

    What type of property is this?
    Shopping center - Retail suites available in Springfield, anchored by Kroger.
    Where is this shopping center located?
    The property is located at 2953-2989 Derr Road Springfield, OH.
    What are key features of this property?
    This property features: Anchored by Kroger, a major grocery retailer.; Located in the only retail center within a 2‑mile radius.; Serves a heavily residential population.
    (614) 781-5130
    We can help!
    Listing Contact
    Luke Streng
    Luke Streng
    Real Estate License ID: OH 2007004532
    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!