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

    6871 Columbus Pike S Lewis Center, OH 43035

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

    Commercial land in Delaware County available for development.

    Type:Land
    Lot size:
    3.75 Acres
    Added:
    Jun 22, 2017
    Days on Market:
    3221
    Last Refresh:
    Mar 17 at 1:13 pm

    Property Features for 6871 Columbus Pike S

    General Information

    Standard status
    Active
    Lot size
    3.75 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Skip Weiler

    Listing agent Skip Weiler License #321199

    Listing office The Robert Weiler Company

    Listing date Jun 22, 2017

    Source Crexi

    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 The Robert Weiler Company

    Overview

    Commercial Land Development Opportunity

    This commercial land development opportunity is located in Delaware County. The property is zoned Planned Development - Commercial/Residential District. Situated directly on US 23 south of Delaware at the intersection of Home Road, the location benefits from high traffic and positive demographics. Infrastructure improvements include the extension of Home Road and sanitary sewer services to the site. The surrounding area features several development projects, including Evans Farm, Epcon Clear Creek and Ravines, and Menards sites. Recent sales in the area include 11 +/- acres to Mount Carmel Health Systems, 45.124 +/- acres for multifamily development, 109.5 +/- acres for single-family homes, 3.7 +/- acres for a tennis facility, and 27.89 +/- acres for a data center. Additionally, 3.75 acres from parcel PID 31823022002000 is currently under contract.
    Location Intelligence

    Current Use by Public Records

    ASAP Tree Service Landscaping

    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.

    Location Insight

    • Map
    • Local Demand
    City
    Lewis Center
    County
    Delaware
    State
    Ohio
    Longitude
    -83.0229917
    Latitude
    40.1946776

    Nearby Similar for Sale

    • $11
      12,432 SF

      Versatile Industrial Building with Office Space

      4,137 SF building on 1.53 acres with functional layout.
      300 Enterprise Drive, Lewis Center, OH 43035
      View Details
    • $15
      16,372 SF

      Green Meadows Corporate Park Office

      Office space with convenient access to Polaris amenities and major highways.
      400 Venture Drive, Lewis Center, OH 43035
      View Details
    • $9
      84,824 SF

      Lewis Center Warehouse/Production Facility

      84,000 SF warehouse/production facility with office space and ample parking.
      7801 N Central Drive, Lewis Center, OH 43035
      View Details
    • $461,538
      3,101 SF

      Versatile Flex Office/Warehouse Condo

      3,101 SF flex space in Lewis Center available for sale.
      705 Radio Dr, Lewis Center, OH 43035
      View Details
    • $1,994,200

      Commercial Corner Lot on Columbus

      3.068 acre commercial corner lot, ideal for various businesses.
      6519 Columbus Pike, Lewis Center, OH
      View Details
    • $1,500,000
      9,480 SF

      Daycare Facility For Sale

      Well-located daycare facility licensed for 94 children for sale.
      7810 Graphics Way, Lewis Center, OH
      View Details
    • $3,096,000

      Columbus Pike Commercial Development Land

      10.32 acre commercial development land on Columbus Pike.
      5143 Columbus Pike, Lewis Center, OH 43035
      View Details
    • $3,235,000
      5,167 SF

      New Retail Property For Sale

      New construction retail property with long-term lease and drive-thru.
      55 Meadow Park Ave, Lewis Center, OH
      View Details
    • $2,582,835
      14,028 SF

      High Traffic Car Wash For Sale

      Car wash with detailing area on 1.681-acre lot.
      8062 Orange Centre Dr, Lewis Center, OH 43035
      View Details
    • $6,382,800

      Prime Land on State Route

      Highly visible land suitable for various commercial uses.
      200 Orange Point Dr , Lewis Center, OH
      View Details
    • Contact for pricing
      204,251 SF

      Retail Center Anchored by National Tenants

      Retail property with long-term leases and strong national anchors.
      9001 Columbus Pike, Lewis Center, OH 43035
      View Details
    • $159,900

      Established Dry Cleaning Business Opportunity

      Turnkey dry cleaning business for sale in a busy location.
      0000 Business Opportunity Street, Lewis Center, OH, 43035
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial land in Delaware County available for development.
    Where is this commercial land located?
    The property is located at 6871 Columbus Pike S Lewis Center, OH.
    What are key features of this property?
    This property features: High traffic location on US 23 at the intersection of Home Road in Delaware County.; Zoned Planned Development - Commercial/Residential District.; Extension of Home Rd and sanitary sewer to the sites.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Skip Weiler
    Real Estate License ID: 321199
    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!