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    9510 Jacksontown Rd Thornville, OH 43076

    Sponsored
    For Sale
    $2,280,000

    Thriving mixed-use center, 5 tenants, strong lease terms.

    Property size:
    7,500 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    This exceptional Class A, mixed-use investment property, the Shoppes of Jacksontown, presents a compelling opportunity. Located at 9510 Jacksontown Rd, Thornville, OH 43076, this 7,500 square foot center boasts five tenants under a Net Lease (NNN) agreement with yearly rent bumps, offering a stable and predictable income stream. The property features a diverse tenant mix including a pharmacy/drug store, restaurant, and other retail spaces. All tenants are credit-rated, franchisees, or backed by corporate guarantees, mitigating risk. The current lease term is five years, commencing October 1, 2024, with an occupancy date of September 12, 2024. The property sits on a 2-acre lot, with a land value of $500,000 per acre, and offers ample parking (32 spaces per 1,000 sq ft). Built in 2024, the single-story building is zoned for commercial use and benefits from its proximity to Interstate 70 (3,500 feet from exit at State Route 13). The asking price is $2,280,000 ($304 per square foot). Additional development potential exists with two available commercial outlots and 40 acres of buildable agricultural land. This prime location offers easy access to major transportation routes, and is near popular attractions such as Legend Valley Concert Venue, Buckeye Lake, and Lakewood Schools, as well as significant employers including Amazon, Google, and FedEx. Utilities are stubbed to the property.

    Property Features for 9510 Jacksontown Rd

    General Information

    Property type
    Lifestyle centers
    Square Feet
    7,500 SF
    Class
    A
    Lot Size
    87,120 SF

    Building Details

    Year Built
    2024
    Buildings
    1
    Stories
    1
    Units
    5

    HighLights

    • 3,500 feet from I‑70, utilities stubbed.
    • Commercial zoning front, agricultural zoning rear; Licking County location.
    • Near Legend Valley, Buckeye Lake, and Lakewood Schools.
    • Convenient to Amazon, Google, FedEx, Heath, and Hebron.
    Property Profile Location Intelligence

    Current Use by Public Records

    Lifestyle centers

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Auto Repair Shop Kitchen & Bath Accounting Firm Bar & Pub Computer & Electronic Repair Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Thornville
    County
    Licking
    State
    Ohio
    Longitude
    -82.412240658197
    Latitude
    39.954576483136

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    FAQs

    What type of property is this?
    Lifestyle center - Thriving mixed-use center, 5 tenants, strong lease terms.
    Where is this lifestyle center located?
    The property is located at 9510 Jacksontown Rd Thornville, OH.
    What is the asking price?
    The asking price for this property is $2,280,000.
    What are key features of this property?
    This property features: 3,500 feet from I-70, utilities stubbed.; Commercial zoning front, agricultural zoning rear; Licking County location.; Near Legend Valley, Buckeye Lake, and Lakewood Schools.
    Request Owner's contact information
    9510 Jacksontown Rd Thornville, OH 43076
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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.

    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
    9510 Jacksontown Rd Thornville, OH 43076
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