Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Land Available US-62 and OH-161 Title is generated by Realmo AI

    US-62 and OH-161 New Albany, New Albany, OH 43054

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,000,000

    1.34 acres of land available along US-62 and OH-161.

    Type:Land
    Property size:
    1 SF
    Price / SF:
    $1,000,000/SF
    Added:
    Sep 10, 2025
    Days on Market:
    254
    Last Refresh:
    Apr 5 at 8:16 pm

    Property Features for US-62 and OH-161 New Albany

    General Information

    Standard status
    Active
    Size
    1 SF
    Property subtype
    Land

    We can help!

    Listing Contact
    Chris Howard
    Chris Howard

    Listing agent Chris Howard License #SALM

    Listing office Coldwell Banker Commercial - Aspire Realty Services | Columbus

    Listing date Sep 10, 2025

    Source Cbcworldwide

    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 | Columbus

    HighLights

    • 1.34 acres available for your next project.
    • Located along US‑62, offering excellent visibility.
    • Situated along OH‑161 for convenient access.
    • Land available to suit your needs.
    • Acreage available in a prime location.
    • Property available for development.

    Overview

    This property features 1.34 acres of land situated along US-62 and OH-161.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Auto Repair Shop Nail Salon Hotel & Motel Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    New Albany
    County
    Franklin
    State
    Ohio
    Longitude
    -82.7998
    Latitude
    40.0871

    Nearby Similar for Sale

    • $999,999

      Residential Lot in New Albany

      2.65-acre residential building lot in a prestigious New Albany location.
      Johnstown Road, New Albany, OH 43054
      View Details
    • $3,000,000

      New Albany Development Opportunity

      Almost 27 acres in New Albany, development opportunity.
      0 East Walnut Street, New Albany, OH 43054
      View Details
    • $222,000

      Residential Land in New Albany, OH

      Foreclosure auction: Vacant land in New Albany, OH.
      6167 Albany Crest Ave, New Albany, OH 43054
      View Details
    • $1,250,000

      New Albany Land Opportunity

      Five acres of land available in New Albany, Ohio.
      7989 Clouse Road, New Albany, OH 43054
      View Details
    • $4,332,000
      15 SF

      Development Site Near Intel Campus

      Prime development land near New Albany's industrial park.
      13410 Worthington Rd, New Albany, OH 43054
      View Details
    • $1,395,000
      3,335 SF

      New Albany Commercial Real Estate

      Commercial property in growing New Albany business and residential corridor.
      6678 Central College Road, New Albany, OH 43054
      View Details
    • $6,200,000
      55,000 SF

      High Bay Office and Warehouse For Sale

      High bay office and warehouse with modern construction.
      8900 Smith’s Mill Rd. North, New Albany, OH 43054
      View Details
    • $14
      48,594 SF

      Downtown New Albany Office/Medical Space

      Office or medical space for lease in downtown New Albany.
      20 Third Street, New Albany, OH 43054
      View Details
    • $4,332,000

      New Albany Development Site

      Prime 10.83-acre development land near Intel campus.
      13410 Worthington Rd, New Albany, OH 43062
      View Details
    • $2,555,000
      7 SF

      New Albany Industrial Development Land

      7.3-acre industrial land in thriving New Albany business corridor.
      Development Land for Sale, New Albany, OH 43031
      View Details
    • $400,000
      3 SF

      Land Near Business Park

      3.02 acres near New Albany International Business Park.
      New Albany-Condit Road, New Albany, OH 43054
      View Details
    • $4,332,000

      Land Site Near New Albany

      Land site for sale near New Albany International Business Park.
      13410 Worthington Rd, Pataskala, OH
      View Details

    FAQs

    What type of property is this?
    Land - 1.34 acres of land available along US-62 and OH-161.
    Where is this land located?
    The property is located at US-62 and OH-161 New Albany New Albany, OH.
    What is the asking price?
    The asking price for this property is $1,000,000.
    What are key features of this property?
    This property features: 1.34 acres available for your next project.; Located along US‑62, offering excellent visibility.; Situated along OH‑161 for convenient access.
    (614) 341-9800
    We can help!
    Listing Contact
    Chris Howard
    Chris Howard
    Real Estate License ID: SALM
    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
    US-62 and OH-161 New Albany, OH 43054, OH 43054
    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!