Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    307 OH-528 Madison, OH 44057

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    17.68 acre development site at I-90 and SR 528.

    Type:Land
    Lot size:
    17.69 Acres
    Added:
    Dec 23, 2021
    Days on Market:
    1580
    Last Refresh:
    Mar 17 at 1:14 pm

    Property Features for 307 OH-528

    General Information

    Standard status
    Active
    Lot size
    17.69 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Joseph Khouri

    Listing agent Joseph Khouri License #OH 2008000837

    Listing office CBRE - Cleveland

    Listing date Dec 23, 2021

    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 CBRE - Cleveland

    Overview

    Grand River Gateway Development Site

    This 17.68-acre commercial land parcel is located within the Grand River Gateway development at Great Lakes Way in Madison, OH. The site, identified as Block A with parcel number 02-A-002-A-00-008-0, offers dimensions of 1,745'+ x 867.88'+. Zoned B-5 Highway Business - Industrial District, the property benefits from existing utilities located at Great Lakes Way. Millions have been invested in infrastructure, with construction underway for Great Lakes Power and Love’s Travel Stops & Country Stores. The new Great Lakes Power 110,000 SF Global HQ Building is adjacent to the site, along with an 18-acre Love’s Travel Stops & Country Store. The location provides access off of SR 528 (S Madison Rd), which experiences a traffic count of 7,383 vehicles per day. It is also situated seconds from the I-90 interchange at Exit 212, which sees 36,551 vehicles per day. Significant economic incentives are available.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Madison
    County
    Lake
    State
    Ohio
    Longitude
    -81.0546
    Latitude
    41.7879

    Nearby Similar for Sale

    • $65,000

      Established Snap Fitness Franchise Opportunity

      Profitable Snap Fitness franchise for sale in Madison, Ohio.
      6581 N Ridge Road, Madison, OH 44057
      View Details
    • $412,500

      37.5 Acres Wooded Land

      Wooded land with ponds, suitable for recreation or building.
      County Line Road, Madison, OH 44057
      View Details
    • $3,000,000

      Modern Car Wash on Green Road

      State-of-the-art car wash built in 2022, high revenue.
      2606 Green Road, Madison, OH 44057
      View Details
    • $25,000

      Residential Land in Madison, OH

      Three wooded lots totaling 0.47 acres for residential build.
      Magnolia Drive, Madison, OH 44057
      View Details
    • $25,000

      Residential Land in Madison, OH

      Three wooded lots totaling 0.47 acres for residential build.
      Magnolia Drive, Madison, OH 44057
      View Details
    • $25,000

      Residential Land in Madison, OH

      Three wooded lots totaling 0.47 acres for residential build.
      Magnolia Drive, Madison, OH 44057
      View Details
    • $25,000

      Residential Land in Madison, OH

      Three wooded lots totaling 0.47 acres for residential build.
      Magnolia Drive, Madison, OH 44057
      View Details
    • $25,000

      Residential Land in Madison, OH

      Three wooded lots totaling 0.47 acres for residential build.
      Magnolia Drive, Madison, OH 44057
      View Details
    • $25,000

      Residential Land in Madison, OH

      Three wooded lots totaling 0.47 acres for residential build.
      Magnolia Drive, Madison, OH 44057
      View Details
    • $25,000

      Residential Land in Madison, OH

      Three wooded lots totaling 0.47 acres near Lake Erie.
      Magnolia Drive, Madison, OH 44057
      View Details
    • $39,900

      Residential Land Near Lake Erie

      Residential land available near Lake Erie in Madison, Ohio.
      1785 Green Road, Madison, OH 44057
      View Details
    • $829,900
      600 SF

      Updated Retail/Office Space in Madison

      600 SF retail/office space with high visibility and accessibility.
      6714 N Ridge Rd, Madison, OH
      View Details

    FAQs

    What type of property is this?
    Commercial land - 17.68 acre development site at I-90 and SR 528.
    Where is this commercial land located?
    The property is located at 307 OH-528 Madison, OH.
    What is the asking price?
    The asking price for this property is $2,564,470.
    What are key features of this property?
    This property features: 17.68 acre development site with B‑5 Highway Business - Industrial District zoning.; Located at the I‑90 SR 528 & SR 307 interchange (Exit 212) with **high traffic counts (36,551 VPD)**.; Utilities are in place at Great Lakes Way.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Joseph Khouri
    Real Estate License ID: OH 2008000837
    Learn More
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!