Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    State Route 29 Urbana, OH 43078

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Prime Ohio Land - Build Your Dream

    Property Features for 0 State Route 29

    General Information

    Property type
    Land

    We can help!

    Listing Contact
    V. Patrick Hamilton
    V. Patrick Hamilton

    Listing Agency: RE/MAX Alliance Realty Listing Agent: V. Patrick Hamilton

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional 5.876-acre parcel presents a unique opportunity for development in Urbana, Ohio. Situated on the southeast corner of State Route 29 and South Dugan Road, this vacant land offers significant potential for a variety of uses. Imagine building a new home, establishing a mini-farm, or pursuing other ventures on this expansive lot. The property's generous size allows ample space for a primary residence and outbuildings, providing flexibility for your vision. Conveniently located just outside the Urbana city limits, in Urbana Township, this country setting offers a peaceful retreat while remaining minutes away from essential amenities. The nearby Kroger and Walmart shopping plazas, along with the restaurants and shops on the Scioto Street corridor, provide easy access to daily conveniences. The area is experiencing growth, with several new homes either recently completed or currently under construction in the immediate vicinity, indicating a thriving and desirable neighborhood. This 256,132.8 square foot lot is priced at $289,900 and presents a compelling investment opportunity in a prime location. Don't miss this chance to acquire this exceptional piece of land and bring your vision to life.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Urbana
    County
    Champaign
    State
    Ohio
    Longitude
    -83.6471782
    Latitude
    40.0804132

    Nearby Similar for Sale

    • $1,050,000
      7,572 SF

      Fully Leased Urbana Retail Center

      7,572 SF mixed-use retail center with strong tenant mix.
      643 Bodey Cir, Urbana, OH 43078
      View Details
    • $449,900
      8,334 SF

      Downtown Urbana Commercial Building For Sale

      Four-level commercial building in downtown Urbana with retail and office space.
      118 N Main St, Urbana, OH 43078
      View Details
    • $189,900
      2,716 SF

      Duplex on South Main Street

      Well-maintained duplex with two units and a two-car garage.
      418 S Main St, Urbana, OH 43078
      View Details
    • $229,000
      3,125 SF

      Historic Urbana Duplex with Income

      Well-maintained duplex with income potential near downtown Urbana, Ohio.
      328-330 W Church St, Urbana, OH 43078
      View Details
    • $229,000
      0.17 Acres

      Historic Duplex with Income Potential

      Well-maintained duplex in Urbana with income potential and updated mechanicals.
      328 W Church St, Urbana, OH 43078
      View Details
    • New
      $300,000
      3,572 SF

      Income-Producing Mixed-Use Property For Sale

      Fully leased mixed-use property with strong cash flow and stable income.
      231 N Main St, Urbana, OH 43078
      View Details
    • $180,000
      Pending

      Updated Duplex Near Downtown Urbana

      Updated duplex with separate utilities, ideal for owner-occupant or investor.
      412 N Main St, Urbana, OH 43078
      View Details
    • $629,267
      7,954 SF

      Historic Urbana Apartment Building with Retail

      Historic landmark with apartments, commercial space, and expansion potential.
      127 Miami St, Urbana, OH 43078
      View Details
    • $94,900
      1,698 SF

      Turnkey Restaurant Opportunity in Urbana

      Established restaurant with equipment package, ready for new owner.
      1010 Scioto St, Urbana, OH 43078
      View Details
    • $1,200,000
      15,988 SF

      Two-Story Commercial Building For Sale

      Two-story commercial building with 40 units and investment upside.
      1490 E Us Highway 36, Urbana, OH 43078
      View Details
    • $400,000
      0.11 Acres

      Mixed-Use Building in Urbana, OH

      Well-maintained, all-brick mixed-use property with multiple tenants in Urbana.
      200-202 Scioto St, Urbana, OH 43078
      View Details
    • Contact for pricing
      30,000 SF

      Versatile Urbana Property with Income

      8-acre property with residences, warehouses, and shop space.
      955 Lippincott Rd, Urbana, OH 43078
      View Details

    FAQs

    What type of property is this?
    Land - Prime Ohio Land - Build Your Dream
    Where is this land located?
    The property is located at State Route 29 Urbana, OH.
    What is the asking price?
    The asking price for this property is $289,900.
    What are key features of this property?
    This property features: $289,900 asking price.; Land property.; 256,132.8 sq ft lot size.
    (937) 652-1100 Call to check price and availability
    Request Owner's contact information
    State Route 29 Urbana, OH 43078
    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.
    State Route 29
    Urbana, OH 43078
    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
    State Route 29 Urbana, OH 43078
    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

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing V. Patrick Hamilton
    V. Patrick Hamilton
    Real Estate License ID: 2004002933
    (937) 652-1100
    Learn more
    Google sign-in failed. Please try again or use another login method.