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    Woodcutter Dr Powell, OH 43065

    Sponsored
    For Sale
    $995,000

    1.3-Acre Retail Site, High Traffic

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    402
    This exceptional 1.3-acre commercial vacant land parcel in Powell, Ohio, presents a remarkable investment opportunity. Located at the highly visible corner of Woodcutter Drive and Home Road, this property boasts over 400 square feet of frontage on Home Road, ensuring maximum exposure to a diverse customer base. The parcel is zoned for commercial use, making it ideal for a variety of retail or restaurant concepts. Its strategic location benefits from proximity to Powell City Schools, attracting a significant population of students and parents. The surrounding residential neighborhoods provide a strong local customer base, while the high traffic volume on Home Road ensures excellent visibility and accessibility. Furthermore, the property's proximity to major attractions such as the Columbus Zoo & Aquarium, Metro Parks, and Olentangy Caverns adds to its appeal. The area is experiencing significant growth, with a new Kroger supermarket slated to open in 2026, further enhancing the property's value and attracting additional foot traffic. This prime location offers unparalleled potential for a thriving business, capitalizing on the strong demographics and convenient access to amenities. The APN is 319-240-01-011-006. This is a rare opportunity to acquire a highly desirable commercial property in a rapidly developing area.

    Property Features for 0 Woodcutter Dr

    General Information

    Property type
    Retail properties
    Lot Size
    56,628 SF

    HighLights

    • 1.3‑acre commercial vacant land parcel in Powell, Ohio.
    • Excellent visibility with 400+ SF of frontage on Home Road.
    • Zoned for retail or restaurant use.
    • Strong local demographics due to proximity to Powell City Schools and residential neighborhoods.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Powell
    County
    Delaware
    State
    Ohio
    Longitude
    -83.090971291428
    Latitude
    40.195431236421

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    FAQs

    What type of property is this?
    Retail property - 1.3-Acre Retail Site, High Traffic
    Where is this retail property located?
    The property is located at Woodcutter Dr Powell, OH.
    What is the asking price?
    The asking price for this property is $995,000.
    What are key features of this property?
    This property features: 1.3-acre commercial vacant land parcel in Powell, Ohio.; Excellent visibility with 400+ SF of frontage on Home Road.; Zoned for retail or restaurant use.
    Request Owner's contact information
    Woodcutter Dr Powell, OH 43065
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    Woodcutter Dr
    Powell, OH 43065
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    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
    Woodcutter Dr Powell, OH 43065
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