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    1209 Stringtown Rd Grove City, OH 43123

    Sponsored
    For Sale
    $6,600,000

    16 Acres, Prime Development Site

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 16-acre property in Grove City, Ohio (Franklin County, zip code 43123, located at 1209 Stringtown Rd) presents a unique investment opportunity. The primary 10-acre site, with approximately 9 developable acres, is ideally suited for a mixed-use development. Currently zoned residential and commercial, Grove City actively supports annexation from Jackson Township and rezoning as a Planned Urban District (PUD). The city's plan includes a medical office component on approximately 3 acres, addressing the significant demand fueled by a less than 1% vacancy rate and the proximity to the OhioHealth Hospital (completed 2018). In return for this medical space, the city will permit a five-story apartment, condominium, or senior housing project, capitalizing on Grove City's rapid growth as a Columbus suburb. The strong residential demand is driven by Columbus's status as one of the nation's fastest-growing cities and the Midwest's fastest-growing MSA. An additional 6 acres adjacent to the site are available for purchase, allowing for immediate expansion or future development. The asking price for this exceptional opportunity is $6,600,000.

    Property Features for 1209 Stringtown Rd

    General Information

    Property type
    Land
    Lot Size
    696,960 SF

    HighLights

    • 10‑acre site with approximately 9 acres developable; currently zoned residential and commercial, annexation and rezoning to PUD possible with Grove City.
    • Grove City will annex two eastern parcels and rezone to PUD, with a portion dedicated to medical development in exchange for allowing a five‑story multifamily building.
    • High demand for medical office space in Grove City (under 1% vacancy, no Class A space available), adjacent to OhioHealth Hospital.
    • High demand for multifamily housing in Grove City due to rapid population growth; prime location for market‑rate, workforce, and senior housing.
    • Option to purchase an additional 6 acres for expansion.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Grove City
    County
    Franklin
    State
    Ohio
    Longitude
    -83.029839
    Latitude
    39.8741812

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    FAQs

    What type of property is this?
    Land - 16 Acres, Prime Development Site
    Where is this land located?
    The property is located at 1209 Stringtown Rd Grove City, OH.
    What is the asking price?
    The asking price for this property is $6,600,000.
    What are key features of this property?
    This property features: 10-acre site with approximately 9 acres developable; currently zoned residential and commercial, annexation and rezoning to PUD possible with Grove City.; Grove City will annex two eastern parcels and rezone to PUD, with a portion dedicated to medical development in exchange for allowing a five-story multifamily building.; High demand for medical office space in Grove City (under 1% vacancy, no Class A space available), adjacent to OhioHealth Hospital.
    Request Owner's contact information
    1209 Stringtown Rd Grove City, OH 43123
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    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
    1209 Stringtown Rd Grove City, OH 43123
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