Industrial Land with Warehouse
For Sale
$845,000
6595 Watkins Road SW, Pataskala, OH 43062
Manufacturing-zoned site with multiple outbuildings, rail adjacency, and approximately 375 feet of road frontage.
Property Size2,232 SF
Lot Size10.00 Acres
Price / SF$378.58
Days on Market198
Property Features for 6595 Watkins Road SW
General Information
Standard status
Active
Size
2,232 SF
Lot size
10.00 Acres
Property subtype
Industrial
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$7,022
Building Details
Building Size
2,232 SF
Year Built
1994
Listing Agency:
Red 1 Realty
(614) 332-7800
Listed By:
Jon Bolon · License #2018006205
(614) 332-7800
Source:
Camtaylor
Added: Feb 6
Changed: Aug 23
Last Checked: Aug 22 at 11:25AM
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 Red 1 Realty
Investment Insights
Based on property information with market context.
This manufacturing-zoned industrial property in Pataskala includes a mostly level, open land layout with multiple outbuildings suitable for storage and light industrial uses, subject to township approval. On-site structures include two 50' x 30' buildings—one with a concrete floor and electric plus two man doors and a sliding door (approximately 12' x 11'), and a second with a gravel floor and a man door with an opening (approximately 9.5' x 8.5'). There is also a 30' x 25' building with a standard one-car garage door.
The site offers approximately 375 feet of road frontage and is positioned about 1 mile from State Route 16, providing quick access to Columbus, I-70, and major logistics routes. The property is adjacent to the Central Ohio Railroad, offering potential for rail-served operations (buyer to verify).
An existing 3-bedroom single-family home is also located on the property and may be used as office space, converted, or used as a residence or rental, depending on the buyer’s plans and applicable approvals.
The site offers approximately 375 feet of road frontage and is positioned about 1 mile from State Route 16, providing quick access to Columbus, I-70, and major logistics routes. The property is adjacent to the Central Ohio Railroad, offering potential for rail-served operations (buyer to verify).
An existing 3-bedroom single-family home is also located on the property and may be used as office space, converted, or used as a residence or rental, depending on the buyer’s plans and applicable approvals.
Key Highlights
- 10‑acre manufacturing‑zoned property with multiple outbuildings and mostly level, open land for site planning
- Approximately 375 ft of road frontage near State Route 16 for access and signage potential
- Adjacent to Central Ohio Railroad, offering potential for rail‑served operations (buyer to verify)
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
$31,490
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
3.73%
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%
$629,800
$629.8K
Cap Rate 7%
$449,857
$449.9K
Cap Rate 9%
$349,889
$349.9K
Market Conditions
NOI Build-Up for 2,232 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
$48.7K $21.84/SF
− Vacancy
−$11.7K −$5.24/SF
EGI
$37.0K $16.60/SF
− OpEx
−$5.6K −$2.49/SF
NOI
$31.5K $14.11/SF
Area
Licking 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%
$629,800
Cap Rate 7%
$449,857
Cap Rate 9%
$349,889
Alternative Uses
Best Use
Warehouse
$449.9K
$393.6K – $524.8K
NOI $31,490 @ 7.0% cap · market cap 3.73%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$1.79M
$1.57M – $2.09M
NOI $125,480 @ 7.0% cap · market cap 14.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
17
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
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?
Industrial land - Manufacturing-zoned site with multiple outbuildings, rail adjacency, and approximately 375 feet of road frontage.
Where is this industrial land located?
The property is located at 6595 Watkins Road SW Pataskala, OH.
What is the asking price?
The asking price for this property is $845,000.
What are key features of this property?
This property features: 10‑acre manufacturing‑zoned property with multiple outbuildings and mostly level, open land for site planning; Approximately 375 ft of road frontage near State Route 16 for access and signage potential; Adjacent to Central Ohio Railroad, offering potential for rail‑served operations (buyer to verify)
