Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Kroger-Anchored Shopping Center Retail Space Title is generated by Realmo AI

    1516-1710 Georgesville Square Dr, Columbus, OH 43228

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

    Retail space for lease in Kroger-anchored shopping center.

    Type:Retail
    Added:
    Feb 6, 2024
    Days on Market:
    824
    Last Refresh:
    Mar 17 at 1:20 pm

    Property Features for 1516-1710 Georgesville Square Dr

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Spaces For Lease

    at 1516-1710 Georgesville Square Dr Contact us

    We can help!

    Listing Contact
    Scott Faloni

    Listing agent Scott Faloni License #OH

    Listing office Phillips Edison & Company

    Listing date Feb 6, 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 Phillips Edison & Company

    HighLights

    • Kroger‑anchored shopping center provides consistent customer traffic.
    • Shadow‑anchored by Lowe's, further enhancing the center's draw.
    • Excellent visibility ensures your business gets noticed.
    • Accessibility from I‑270 makes it easy for customers to reach you.
    • Retail space available for lease.
    • Located 11 miles from downtown Columbus, OH.

    Overview

    Georgesville Square is a shopping center anchored by Kroger and shadow-anchored by Lowe's, offering retail space for lease. Located in Columbus, OH, the center is situated 11 miles from downtown. The property benefits from excellent visibility and accessibility from I-270.
    Location Intelligence

    Current Use by Public Records

    TakeTatt Tattoo Removal Tattoo & Piercing Shop

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    • Georgesville Square — 1625 Georgesville Square Dr, Columbus, OH 43228
    • Coin Cloud Bitcoin ATM — 4580 Alkire Rd, Columbus, OH 43228
    • Coinstar Kiosk | Bitcoin ATM — Kroger - Columbus, 1585 Georgesville Square Dr, Columbus, OH 43228

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Delaware
    State
    Ohio
    Longitude
    -83.122381
    Latitude
    39.920954

    Nearby Similar for Lease

    • $1,200/Mo

      Turnkey Suites in Sawmill Corridor

      Move-in-ready suites for wellness and beauty professionals in Columbus, OH.
      4602 Sawmill Road, Columbus, OH 43220
      View Details
    • $400/Mo

      Clintonville Office Space For Rent

      Updated office space in a centrally located professional building.
      3840 N High, Columbus, OH 43214
      View Details
    • $1,250/Mo

      Worthington Office Condo For Lease

      Two-story office condo in Worthington with flexible layout.
      867 N High Street, Columbus, OH 43085
      View Details
    • $695,000 SF/Yr

      Versatile Commercial Building in Columbus

      Renovated 5,280 SF commercial space suitable for various businesses.
      3941 E Main Street, Columbus, OH 43213
      View Details
    • $1,500/Mo

      Class A Office Sublease

      Premier Class A office space in downtown Columbus CBD.
      65 E State Street, Columbus, OH 43215
      View Details
    • $8,500/Mo

      Kenny Road Retail Space Available

      5,420 SF retail space with flexible build-out options.
      4588 Kenny Road, Columbus, OH 43220
      View Details
    • $2,600/Mo

      Well-Maintained Office Unit For Rent

      Ground floor office unit with reception, kitchenette, and offices.
      20 Northwoods Boulevard, Columbus, OH 43235
      View Details
    • $1,800/Mo

      Columbus Office Suite For Lease

      Office suite with reception area, perfect for healthcare or wellness.
      50 Old Village Road, Columbus, OH 43228
      View Details
    • $14 SF/Yr

      Versatile Office Space on Bethel

      Adaptable office space with dual entrances in Columbus, OH.
      1918 Bethel Road, Columbus, OH 43220
      View Details
    • $2,500/Mo

      Renovated Office Suite Near Bexley

      Renovated office suite for lease near Franklin Park Conservatory.
      1824 E Broad Street, Columbus, OH 43203
      View Details
    • $200 SF/Yr

      Salon Suites for Lease

      Individual salon suites available for lease in Columbus, OH.
      4588 Kenny Road, Columbus, OH 43220
      View Details
    • $1,000/Mo

      Renovated Office Suite Near Bexley

      Renovated office suite for lease near Franklin Park Conservatory.
      1824 E Broad Street, Columbus, OH 43203
      View Details

    FAQs

    What type of property is this?
    Shopping center - Retail space for lease in Kroger-anchored shopping center.
    Where is this shopping center located?
    The property is located at 1516-1710 Georgesville Square Dr Columbus, OH.
    What are key features of this property?
    This property features: Kroger‑anchored shopping center provides consistent customer traffic.; Shadow‑anchored by Lowe's, further enhancing the center's draw.; Excellent visibility ensures your business gets noticed.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Scott Faloni
    Real Estate License ID: OH
    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

    Thank You for Inquiry
    1516-1710 Georgesville Square Dr, Columbus, OH 43228
    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!