Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2.72 Acre Development Site Title is generated by Realmo AI

    Innovation Campus Wy, New Albany, OH 43031

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    2.72 acre development site near Intel facility.

    Type:Land
    Lot size:
    2.72 Acres
    Added:
    Dec 1, 2023
    Days on Market:
    914
    Last Refresh:
    May 12 at 9:09 pm

    Property Features for Innovation Campus Wy

    General Information

    Standard status
    Active
    Lot size
    2.72 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Tom Miles
    Tom Miles

    Listing agent Tom Miles License #SAL.2015005333

    Listing office Cushman & Wakefield - Columbus, Ohio

    Listing date Dec 1, 2023

    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 Cushman & Wakefield - Columbus, Ohio

    HighLights

    • Located 2.4 miles from Intel’s $20B semiconductor facility
    • 2.72± acre development site
    • Zoned General Employment
    • All utilities to site
    • Located 12 minutes to I‑270
    • Located 21 minutes to John Glenn Columbus International Airport

    Overview

    This 2.72± acre development site is zoned for General Employment. All utilities are available to the site. The property is located 2.4 miles from Intel’s $20B semiconductor facility, 12 minutes from I-270, 21 minutes from John Glenn Columbus International Airport, and 38 minutes from Rickenbacker International Airport.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    New Albany
    County
    Franklin
    State
    Ohio
    Longitude
    -82.6664
    Latitude
    40.1611

    Nearby Similar for Sale

    • $999,999

      Residential Lot in New Albany

      2.65-acre residential building lot in a prestigious New Albany location.
      Johnstown Road, New Albany, OH 43054
      View Details
    • $3,000,000

      New Albany Development Opportunity

      Almost 27 acres in New Albany, development opportunity.
      0 East Walnut Street, New Albany, OH 43054
      View Details
    • $1,250,000

      New Albany Land Opportunity

      Five acres of land available in New Albany, Ohio.
      7989 Clouse Road, New Albany, OH 43054
      View Details
    • Contact for pricing
      110,580 SF

      Class A Industrial Facility

      Modern industrial space suitable for distribution and manufacturing.
      9310 Innovation Campus Way, New Albany, OH 43054
      View Details
    • $1,395,000
      3,335 SF

      New Albany Commercial Real Estate

      Commercial property in growing New Albany business and residential corridor.
      6678 Central College Road, New Albany, OH 43054
      View Details
    • $14
      48,594 SF

      Downtown New Albany Office/Medical Space

      Office or medical space for lease in downtown New Albany.
      20 Third Street, New Albany, OH 43054
      View Details
    • $1,000,000
      1 SF

      Land Available US-62 and OH-161

      1.34 acres of land available along US-62 and OH-161.
      US-62 and OH-161 New Albany, OH 43054, OH 43054
      View Details
    • $4,332,000

      New Albany Development Site

      Prime 10.83-acre development land near Intel campus.
      13410 Worthington Rd, New Albany, OH 43062
      View Details
    • $400,000
      3 SF

      Land Near Business Park

      3.02 acres near New Albany International Business Park.
      New Albany-Condit Road, New Albany, OH 43054
      View Details
    • $4,332,000

      Land Site Near New Albany

      Land site for sale near New Albany International Business Park.
      13410 Worthington Rd, Pataskala, OH
      View Details
    • $1,250,000
      2,575 SF

      New Albany Land Opportunity

      Five acres of land available in New Albany, Ohio.
      7989 Clouse Road, New Albany, OH 43054
      View Details
    • Contact for pricing
      1,394,000 SF

      New Albany Land Opportunity

      Approximately 32 acres of land suitable for various uses.
      7041 Walnut St, New Albany, OH 43054
      View Details

    FAQs

    What type of property is this?
    Commercial land - 2.72 acre development site near Intel facility.
    Where is this commercial land located?
    The property is located at Innovation Campus Wy New Albany, OH.
    What is the asking price?
    The asking price for this property is $1,080,000.
    What are key features of this property?
    This property features: Located 2.4 miles from Intel’s $20B semiconductor facility; **2.72± acre development site**; Zoned General Employment
    (614) 451-1770 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Tom Miles
    Tom Miles
    Real Estate License ID: SAL.2015005333
    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

    Thank You for Inquiry
    Innovation Campus Wy, New Albany, OH 43031
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!