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    Hoover Rd Grove City, OH 43123

    Sponsored
    For Sale
    $1,375,000

    Grove City, OH: 2.5-acre prime land

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 2.5-acre development site in Grove City, Ohio, presents a unique investment opportunity. Located on Hoover Road, just north of Route 665, this high-profile outlot benefits from its strategic position between the Mt. Carmel Medical Campus and the Route 665 retail/commercial corridor. The property enjoys excellent visibility and proximity to numerous medical practices, including Balanced Family Academy and Grove City Smiles & Grove Pediatric Dentistry. Its adjacency to a thriving commercial corridor featuring national retailers like Kroger, Meijer, CVS, Starbucks, and more, ensures high traffic and consumer accessibility. Furthermore, this site is situated next to a new 384-unit multi-family project currently under construction, and near several established apartment communities, indicating strong residential growth in the area. The property's location offers easy access to bike paths and proposed nature preserves, adding to its appeal. This location also benefits from a high-density employment area encompassing medical, logistics, and manufacturing industries, and is less than 30 minutes from the new EV plant, accessible via I-71. Local distribution centers such as Amazon, Gap, FedEx, and T. Marzetti further enhance the area's economic vitality. The property also includes a significant 15-year, 100% tax abatement on improvements, making it an even more attractive investment. The asking price is $1,375,000.

    Property Features for 0 Hoover Rd

    General Information

    Property type
    Land
    Lot Size
    108,900 SF

    HighLights

    • 15‑year, 100% tax abatement on improvements.
    • Adjacent to a new 384‑unit multifamily development.
    • Excellent location near multiple apartment complexes and single‑family neighborhoods.
    • Access to bike paths and planned nature preserves.
    • High‑density employment area with medical, logistics, and manufacturing industries.
    • Proximity to a new $3.5 billion EV battery plant (2,200+ jobs).
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Grove City
    County
    Franklin
    State
    Ohio
    Longitude
    -83.072113294609
    Latitude
    39.844882482816

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    FAQs

    What type of property is this?
    Land - Grove City, OH: 2.5-acre prime land
    Where is this land located?
    The property is located at Hoover Rd Grove City, OH.
    What is the asking price?
    The asking price for this property is $1,375,000.
    What are key features of this property?
    This property features: 15-year, 100% tax abatement on improvements.; Adjacent to a new 384-unit multifamily development.; Excellent location near multiple apartment complexes and single-family neighborhoods.
    Request Owner's contact information
    Hoover Rd Grove City, OH 43123
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    Realmo Value Estimation

    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.

    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
    Hoover Rd Grove City, OH 43123
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