Prime Development Opportunity in
For Sale
Contact for pricing
4236 Hazelton Etna Road SW, Pataskala, OH 43062
Six contiguous parcels ideal for retail, multi-family, or mixed-use development.
Property Size2,528 SF
Price / SF$494.46
Days on Market166
Property Features for 4236 Hazelton Etna Road SW
General Information
Standard status
Active
Size
2,528 SF
Property subtype
Mixed Use
Building Details
Year Built
1990
Listing Agency:
RE/MAX Town Center
(614) 325-6295
Listed By:
Ron Kendle · License #2015003009
Source:
Crexi
Added: Mar 9
Changed: Aug 8
Last Checked: Aug 20 at 1:16PM
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 RE/MAX Town Center
Investment Insights
Based on property information with market context.
Six contiguous parcels are available as an assemblage in a rapidly growing corridor. This offering presents a development opportunity ideal for retail, multi-family, mixed-use, or overlay development, subject to zoning and approvals. The site has visibility and convenient access to major roadways. The combined acreage of 2528 square feet provides flexibility for a variety of development concepts, including neighborhood retail, higher-density residential, or a coordinated mixed-use project. The location benefits from continued residential and commercial growth in the surrounding area.
Key Highlights
- Prime development opportunity in a rapidly growing corridor.
- Six contiguous parcels offered together as an assemblage.
- Ideal for retail, multi‑family, mixed‑use, or overlay development (subject to zoning and approvals).
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
$41,133
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
3.29%
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%
$822,660
$822.7K
Cap Rate 7%
$587,614
$587.6K
Cap Rate 9%
$457,033
$457.0K
Market Conditions
NOI Build-Up for 2,528 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
$68.3K $27.00/SF
− Vacancy
−$2.4K −$0.97/SF
EGI
$65.8K $26.03/SF
− OpEx
−$24.7K −$9.76/SF
NOI
$41.1K $16.27/SF
Area
Licking County, OH
Vacancy
3.58%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
37.50%
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%
$822,660
Cap Rate 7%
$587,614
Cap Rate 9%
$457,033
Alternative Uses
Best Use
Mixed Use
$587.6K
$514.2K – $685.6K
NOI $41,133 @ 7.0% cap · market cap 3.29%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$2.03M
$1.78M – $2.37M
NOI $142,120 @ 7.0% cap · market cap 11.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
27
Businesses Nearby
Explore this area
Business Placement
Demographics for 43062, OH
32,125
Population
11,979
Households
2.7
Avg Household Size
39
Median Age
32%
College-Educated
94%
High-School Grad
74.3 sq mi
ZIP Area
432
Density / Sq Mi
$100,450
Median Household Income
$53,329
Median Earnings
$1,334
Median Rent
$292,100
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - Six contiguous parcels ideal for retail, multi-family, or mixed-use development.
Where is this commercial land located?
The property is located at 4236 Hazelton Etna Road SW Pataskala, OH.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Prime development opportunity in a rapidly growing corridor.; Six contiguous parcels offered together as an assemblage.; Ideal for retail, multi‑family, mixed‑use, or overlay development (subject to zoning and approvals).
