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    9845 Basil Western Rd Canal Winchester, OH 43110

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    For Lease
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    1.69 acres of commercial land available for lease.

    Type:Land
    Property size:
    197 SF
    Lot size:
    1.69 Acres
    Added:
    Jun 7, 2023
    Days on Market:
    1044
    Last Refresh:
    Mar 17 at 1:15 pm

    Property Features for 9845 Basil Western Rd

    General Information

    Standard status
    Active
    Size
    197 SF
    Lot size
    1.69 Acres
    Property subtype
    Land

    Spaces For Lease

    at 9845 Basil Western Rd Contact us

    Available Space $2,071 /Mo

    Size
    73,616 SF
    Type
    Land
    3,500
    Contact us

    We can help!

    Listing Contact
    Randy Best

    Listing agent Randy Best License #311236

    Listing office Best Corporate Real Estate

    Listing date Jun 7, 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 Best Corporate Real Estate

    Overview

    Commercial Land Near Route 33

    This 1.69-acre commercial land parcel is located near the intersection of Route 33 and Diley Road. The property experiences high traffic volume, with Route 33 recording 55,035 vehicles per day in 2024. The site has a width of approximately 197.5 square feet at its widest point, according to the auditor. The location is experiencing new development, including a proposed warehouse totaling approximately 635,875 square feet across the street. A variety of manufacturing and commercial uses are permitted on the property.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Building Supply Dental Office Big Box & Wholesale Store Hair Salon Nail Salon Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Canal Winchester
    County
    Franklin
    State
    Ohio
    Longitude
    -82.77864
    Latitude
    39.843476

    Nearby Similar for Lease

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      Retail Space in High-Traffic Area

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      Medical Office Building Near US-33

      Medical office space connected to hospital services, near US-33.
      7901 Diley Rd, Canal Winchester, OH 43110
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      Warehouse Space Available For Lease

      130,629 square foot warehouse space available for lease.
      6111 Bixby Road, Canal Winchester, OH, 43110
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      Industrial Space Available for Lease

      Industrial building for lease with tax abatement and planned improvements.
      7415 Basil Western Rd NW, Canal Winchester, OH
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      Mixed-Use Development Near Highway 33

      Mixed-use development in high-growth area near Canal Winchester and Pickerington.
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      Historic Downtown Commercial Space Available

      Prime 2,415 sq ft commercial space in historic Canal Winchester.
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      Mixed-Use Development in High-Growth Area

      Retail and restaurant spaces available in a growing Columbus suburb.
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      Retail, Office

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      35-AC Mixed-Use Development Opportunity

      Mixed-use development site in high-growth area near Columbus.
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      Prime Land in High-Growth Area

      35-AC mixed-use development site in a fast-growing Columbus suburb.
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    FAQs

    What type of property is this?
    Commercial land - 1.69 acres of commercial land available for lease.
    Where is this commercial land located?
    The property is located at 9845 Basil Western Rd Canal Winchester, OH.
    What is the lease rate?
    The lease rate is $24,852.
    What are key features of this property?
    This property features: High traffic count (55,035 VPD) on Route 33.; 1.69 Acres of total acreage.; Located near the intersection of Route 33 and Diley Road.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Randy Best
    Real Estate License ID: 311236
    Learn More
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    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
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