Warehouse with Excess
For Sale
$645,000
3310 London Groveport Road, Groveport, OH 43125
C2-zoned commercial property with an operating auto dealership, a loading bay, and substantial land for additional site use.
Property Size3,450 SF
Days on Market135
Property Features for 3310 London Groveport Road
General Information
Standard status
Active
Size
3,450 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$6,244
Building Details
Building Size
3,450 SF
Year Built
1987
Listing Agency:
EXP Realty, LLC
(614) 822-5174
Listed By:
Husam Almasoodi
(614) 822-5174
Source:
Carolgoffrealestate
Added: Apr 18
Changed: Aug 29
Last Checked: Aug 29 at 10:14PM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
This C2-zoned warehouse property includes 3,450 SF of building area on a 2.67-acre site. Constructed in 1987, the building has one bay door for loading and unloading and is currently operated as an auto dealership. A tenant is in place under a 5-year lease, with the tenant responsible for the majority of property expenses.
The property is located at 3310 London Groveport Road in Groveport, Ohio, near Rickenbacker International Airport and established transportation and logistics facilities. The site includes substantial excess land beyond the existing warehouse footprint, providing additional outdoor area within the parcel. Current use and the C2 designation support the property's documented commercial and automotive applications.
The property is located at 3310 London Groveport Road in Groveport, Ohio, near Rickenbacker International Airport and established transportation and logistics facilities. The site includes substantial excess land beyond the existing warehouse footprint, providing additional outdoor area within the parcel. Current use and the C2 designation support the property's documented commercial and automotive applications.
Key Highlights
- 3,450 SF commercial warehouse on 2.67 acres
- C2 zoning with substantial excess land
- One (1) bay door for loading and unloading
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$48,675
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.55%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$973,500
$973.5K
Cap Rate 7%
$695,357
$695.4K
Cap Rate 9%
$540,833
$540.8K
Market Conditions
NOI Build-Up for 3,450 SF
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.
Gross rent
$75.3K $21.84/SF
− Vacancy
−$18.1K −$5.24/SF
EGI
$57.3K $16.60/SF
− OpEx
−$8.6K −$2.49/SF
NOI
$48.7K $14.11/SF
Area
Franklin County, OH
Vacancy
24.00%
Lease Rate
$21.84 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$973,500
Cap Rate 7%
$695,357
Cap Rate 9%
$540,833
Alternative Uses
Best Use
Warehouse
$695.4K
$608.4K – $811.3K
NOI $48,675 @ 7.0% cap · market cap 7.55%
Second Best
Retail
$656.5K
$574.4K – $765.9K
NOI $45,953 @ 7.0% cap · market cap 7.12%
Theoretical Best
Specialty Retail
$703.4K
$615.4K – $820.6K
NOI $49,235 @ 7.0% cap · market cap 7.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
73
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43125, OH
14,295
Population
6,206
Households
2.3
Avg Household Size
41
Median Age
25%
College-Educated
95%
High-School Grad
31.5 sq mi
ZIP Area
454
Density / Sq Mi
$82,376
Median Household Income
$49,023
Median Earnings
$1,193
Median Rent
$233,200
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Warehouse - C2-zoned commercial property with an operating auto dealership, a loading bay, and substantial land for additional site use.
Where is this warehouse located?
The property is located at 3310 London Groveport Road Groveport, OH.
What is the asking price?
The asking price for this property is $645,000.
What are key features of this property?
This property features: 3,450 SF commercial warehouse on 2.67 acres; C2 zoning with substantial excess land; One (1) bay door for loading and unloading
