Commercial Land With Existing
For Sale
$525,000
US-42 & S Section Line Rd, Delaware, OH 43015
B-3 General Business zoning supports a commercial land offering with multiple existing improvements.
Property Size4,850 SF
Days on Market17
Property Features for US-42 & S Section Line Rd
General Information
Standard status
Active
Size
4,850 SF
Property subtype
Land
Zoning
B-3GeneralBusiness
Building Details
Building Size
4,850 SF
Listing Agency:
Coldwell Banker Commercial Aspire Realty Services
Listed By:
Chris Howard · License #SALM
(614) 341-9800
Source:
Cbcworldwide
Added: Sep 20
Changed: Oct 1
Last Checked: Oct 5 at 3:10PM
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 Coldwell Banker Commercial Aspire Realty Services
Investment Insights
Based on property information with market context.
This 2.36±-acre commercial land property is zoned B-3 General Business and includes several existing structures. Improvements consist of a 672± SF diner, a 1,376± SF motel, and a 1,203± SF dwelling accompanied by a 678± SF garage.
The property is located at 3783 & 3791 US Highway 42 in Delaware, Ohio 43015. Its combination of commercial zoning, land area, and existing diner, motel, residential, and garage improvements creates a varied redevelopment profile within one assembled property.
The property is located at 3783 & 3791 US Highway 42 in Delaware, Ohio 43015. Its combination of commercial zoning, land area, and existing diner, motel, residential, and garage improvements creates a varied redevelopment profile within one assembled property.
Key Highlights
- 2.36± acres of commercial land
- B‑3 General Business zoning
- 672± SF diner improvement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,202
Cap Rate
3.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$404,040
$404.0K
Cap Rate 7%
$288,600
$288.6K
Cap Rate 9%
$224,467
$224.5K
Market Conditions
NOI Build-Up for 4,850 SF
Gross rent
$27.9K $5.76/SF
− Vacancy
−$1.0K −$0.21/SF
EGI
$26.9K $5.55/SF
− OpEx
−$6.7K −$1.39/SF
NOI
$20.2K $4.17/SF
Area
Delaware County, OH
Vacancy
3.58%
Lease Rate
$5.76 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$404,040
Cap Rate 7%
$288,600
Cap Rate 9%
$224,467
Alternative Uses
Best Use
Specialty Retail
$288.6K
$252.5K – $336.7K
NOI $20,202 @ 7.0% cap · market cap 3.85%
Second Best
Hotel Hospitality
$272.7K
$238.6K – $318.1K
NOI $19,086 @ 7.0% cap · market cap 3.64%
Theoretical Best
Warehouse
$977.5K
$855.3K – $1.14M
NOI $68,427 @ 7.0% cap · market cap 13.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
32
Businesses Nearby
Explore this area
Business Placement
Demographics for 43015, OH
57,563
Population
23,287
Households
2.5
Avg Household Size
38
Median Age
47%
College-Educated
96%
High-School Grad
127.9 sq mi
ZIP Area
450
Density / Sq Mi
$99,622
Median Household Income
$50,799
Median Earnings
$1,207
Median Rent
$311,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Commercial land - B-3 General Business zoning supports a commercial land offering with multiple existing improvements.
Where is this commercial land located?
The property is located at US-42 & S Section Line Rd Delaware, OH.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 2.36± acres of commercial land; B‑3 General Business zoning; 672± SF diner improvement
