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    Etna Crst Blvd Etna, OH 43062

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    For Sale
    Contact for pricing

    Prime I-70 development land, high traffic, ready for retail.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    417
    This exceptional 13.37-acre commercial land parcel presents a unique investment opportunity in Etna, Ohio. Strategically located at the northwest corner of State Route 310 and Interstate 70, this property boasts unparalleled visibility and accessibility, with an average daily traffic count of 70,000 vehicles on I-70. The site is zoned PMUD (Planned Mixed-Use Development), allowing for a variety of development options, including retail, hospitality, and office spaces. The property features shovel-ready pads, ranging from approximately 1.9 to 5.5 acres, with utilities already in place. A new access road is under construction, enhancing connectivity and convenience. This prime location benefits from its proximity to major employers, including the Amazon distribution center (two miles) and the new Intel development (6.5 miles), fueling significant growth in the area. The recently expanded interchange is surrounded by established businesses, including McDonald's, Chipotle, BP, and Speedway, further solidifying the area's commercial viability. The property is situated just 18 miles east of downtown Columbus and 7 miles east of Reynoldsburg, offering easy access to a large consumer base. This location serves as a southern gateway to Etna, Pataskala, and New Albany, providing excellent regional connectivity. The site's high visibility, convenient access, and strategic location make it an ideal choice for developers seeking to capitalize on the booming industrial and commercial growth in Licking County. The property's location at the intersection of I-70 and SR-310 provides exceptional exposure and access for businesses. The land is ready for immediate development, with multiple retail pad options available. The price per acre ranges from $450,000 to $500,000, depending on the specific parcel. The APN is 010-017460-01.000.

    Property Features for 0 Etna Crst Blvd

    General Information

    Property type
    Land
    Lot Size
    582,397 SF

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    Listing Contact
    John Mally
    John Mally

    Learn more

    HighLights

    • Ready‑for‑development retail pads, ranging from 1.9 to 5.5 acres.
    • High‑visibility location at the northwest corner of SR‑310 and I‑70.
    • All utilities are available on‑site.
    • Zoned PMUD (Planned Mixed‑Use Development), allowing for retail, hospitality, and office uses.
    • Open to various development and retail concepts.
    • Recently expanded interchange with 70,000 vehicles daily on I‑70.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Etna
    County
    Licking
    State
    Ohio
    Longitude
    -82.6838954
    Latitude
    39.95157

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    FAQs

    What type of property is this?
    Land - Prime I-70 development land, high traffic, ready for retail.
    Where is this land located?
    The property is located at Etna Crst Blvd Etna, OH.
    What are key features of this property?
    This property features: Ready-for-development retail pads, ranging from 1.9 to 5.5 acres.; High-visibility location at the northwest corner of SR-310 and I-70.; All utilities are available on-site.
    (614) 629-5254
    Request Owner's contact information
    Etna Crst Blvd Etna, OH 43062
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    Etna, OH 43062
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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
    Etna Crst Blvd Etna, OH 43062
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    We can help!
    Listing Contact
    John Mally
    John Mally
    Real Estate License ID: 2013004679
    (614) 629-5254
    Learn more
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