Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Development Opportunity Near Buckeye Swim Title is generated by Realmo AI

    1895 Peachblow Rd, Lewis Center, OH 43035

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Mixed-use site near schools, SR23, and Evans Farms.

    Type:Land
    Added:
    Aug 13, 2024
    Days on Market:
    659
    Last Refresh:
    May 12 at 8:54 pm

    Property Features for 1895 Peachblow Rd

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    Scott Hrabcak

    Listing agent Scott Hrabcak License #354109

    Listing office HANNA Commercial Real Estate

    Listing date Aug 13, 2024

    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 HANNA Commercial Real Estate

    HighLights

    • Development opportunity in a mixed‑use site.
    • Adjacent to Buckeye Swim Club.
    • Close proximity to two elementary schools.
    • Easy access to SR23 and Evans Farms.
    • Two pad‑ready sites with utilities available.
    • Suitable for buildings from 8,000 - 15,000 sq. ft.

    Overview

    This property presents a development opportunity adjacent to Buckeye Swim Club. The mixed-use site is suitable for office, institutional, or specialty use. It is located near two elementary schools and residential neighborhoods, with convenient access to State Route 23 and Evans Farms to the south. Two pad-ready sites are available, each equipped with all necessary utilities. These sites can accommodate buildings ranging in size from 8,000 to 15,000 square feet. The property is suitable for child care, medical, or multipurpose facilities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Gym & Fitness Center Storage Facility Pet Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Lewis Center
    County
    Delaware
    State
    Ohio
    Longitude
    -83.0132437
    Latitude
    40.2282607

    Nearby Similar for Sale

    • $1,500,000
      9,480 SF

      Daycare Facility For Sale

      Well-located daycare facility licensed for 94 children for sale.
      7810 Graphics Way, Lewis Center, OH
      View Details
    • $1,994,200

      Commercial Corner Lot on Columbus

      3.068 acre commercial corner lot, ideal for various businesses.
      6519 Columbus Pike, Lewis Center, OH
      View Details
    • $3,235,000
      5,167 SF

      New Retail Property For Sale

      New construction retail property with long-term lease and drive-thru.
      55 Meadow Park Ave, Lewis Center, OH
      View Details
    • $3,096,000

      Columbus Pike Commercial Development Land

      10.32 acre commercial development land on Columbus Pike.
      5143 Columbus Pike, Lewis Center, OH 43035
      View Details
    • $461,538
      3,101 SF

      Versatile Flex Office/Warehouse Condo

      3,101 SF flex space in Lewis Center available for sale.
      705 Radio Dr, Lewis Center, OH 43035
      View Details
    • $11
      12,432 SF

      Versatile Industrial Building with Office Space

      4,137 SF building on 1.53 acres with functional layout.
      300 Enterprise Drive, Lewis Center, OH 43035
      View Details
    • $2,582,835
      14,028 SF

      High Traffic Car Wash For Sale

      Car wash with detailing area on 1.681-acre lot.
      8062 Orange Centre Dr, Lewis Center, OH 43035
      View Details
    • $15
      16,372 SF

      Green Meadows Corporate Park Office

      Office space with convenient access to Polaris amenities and major highways.
      400 Venture Drive, Lewis Center, OH 43035
      View Details
    • $9
      84,824 SF

      Lewis Center Warehouse/Production Facility

      84,000 SF warehouse/production facility with office space and ample parking.
      7801 N Central Drive, Lewis Center, OH 43035
      View Details
    • $1,325,000
      8,569 SF

      Mixed-Use Commercial Building Investment

      Income-producing mixed-use building in developing downtown Lewis Center.
      1550 Lewis Center Rd, Lewis Center, OH
      View Details
    • $6,382,800

      Prime Land on State Route

      Highly visible land suitable for various commercial uses.
      200 Orange Point Dr , Lewis Center, OH
      View Details
    • $237,500

      Land For Sale

      Land available in Delaware County.
      3186 Briarwood Lane, Lewis Center, OH 43035
      View Details

    FAQs

    What type of property is this?
    Commercial land - Mixed-use site near schools, SR23, and Evans Farms.
    Where is this commercial land located?
    The property is located at 1895 Peachblow Rd Lewis Center, OH.
    What is the asking price?
    The asking price for this property is $850,000.
    What are key features of this property?
    This property features: Development opportunity in a mixed‑use site.; Adjacent to Buckeye Swim Club.; Close proximity to two elementary schools.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Scott Hrabcak
    Real Estate License ID: 354109
    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
    1895 Peachblow Rd, Lewis Center, OH 43035
    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!