Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    Optimara Dr. - Lot 140 Dr Pickerington, OH 43147

    • Land
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Optimara Dr. - Lot 140 Dr

    Property type
    Land

    Description

    This exceptional 33,976.8 square foot residential lot is located in the highly sought-after Violet Meadows subdivision in Pickerington, Ohio. Situated at 0 Optimara Dr. - Lot 140 Drive NW, this property presents a unique opportunity to build a custom home in a desirable community. The lot is part of Phase 6, a newly developed area ready for construction. With its expansive size, exceeding three-quarters of an acre, this lot offers ample space for a large home and landscaping. The property is zoned for residential use and boasts a convenient location within Pickerington, offering easy access to local amenities, schools, and major transportation routes. The APN is 03-60085-740, 141-150, 170, 180-187. The asking price for this remarkable building opportunity is $219,000. Don't miss the chance to secure this prime piece of land and create your dream home in a thriving community. This is one of the largest lots currently available.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Pickerington
    County
    Fairfield
    State
    Ohio
    Longitude
    -82.7195
    Latitude
    39.9328

    Comparable in this City

    • Value Estimation by Request

      Windmiller Dr

      Office Properties & Spaces
      0 Windmiller Dr, Pickerington, OH 43147
      View Details
    • Value Estimation by Request

      7300 Drucilla St

      Land
      7300 Drucilla St, Pickerington, OH 43147
      View Details
    • Value Estimation by Request

      654 Luse Dr

      Office Properties & Spaces
      654 Luse Dr, Pickerington, OH 43147
      View Details
    • Value Estimation by Request
      3.30 Acres

      10700 Blacklick-Eastern Rd

      Land • 3.30 Acres
      10700 Blacklick-Eastern Rd, Pickerington, OH 43147
      View Details
    • Value Estimation by Request

      Optimara Dr. - Lot 141 Dr

      Land
      0 Optimara Dr. - Lot 141 Dr, Pickerington, OH 43147
      View Details
    • Value Estimation by Request
      1.08 Acres

      609 Diley Rd

      Land • 1.08 Acres
      609 Diley Rd, Pickerington, OH 43147
      View Details

    Similar Nearby for Sale

    • $199,000

      Pickerington Land: Build Your Dream Home

      Large residential lot in Violet Meadows. Over half-acre, ready to build.
      0 Optimara Dr. Lot 142 Dr, Pickerington, OH 43147
      View Details
    • $159,000

      Prime Pickerington Land - Lot 185

      Build Your Dream Home in Violet Meadows
      7466 Optimara Dr. -, Pickerington, OH 43147
      View Details
    • $209,000

      Pickerington Land: Build Your Dream Home

      Over half-acre lot in Violet Meadows. Residential zoning.
      0 Optimara Dr. - Lot 141 Dr, Pickerington, OH 43147
      View Details
    • $159,000

      Pickerington Land: Build Your Dream Home

      Large lot in Violet Meadows, Ohio.
      7444 Optimara Dr. -, Pickerington, OH 43147
      View Details
    • $750,000
      3.30 Acres

      Pickerington Commercial Land - $750K

      3.3-acre commercial lot, prime location.
      0 Freedom Way, Pickerington, OH 43147
      View Details
    • $249,999

      9.3 Acres, Pickerington Land

      Prime Ohio land, build your dream home!
      9941 Doty Rd, Pickerington, OH 43147
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Commercial Land Pad Site Available

      Ground lease opportunity in Pickerington near established retailers.
      175 Postage Cir, Pickerington, OH 43147
      View Details
    • Contact for pricing
      2,800 SF

      Pickerington Office Space - Drive-Thru Potential

      Prime Office Space, 2800 sq ft, High Visibility
      990 Old Diley Rd, Pickerington, OH 43147
      View Details
    • $15 SF/Yr
      1,500 SF

      Prime Office Space For Rent

      High-visibility office space with ample parking and tenant improvements negotiable.
      641 Hill Rd N, Pickerington, OH 43147
      View Details
    • $20 SF/Yr
      1,941 SF

      Pickerington Office Space For Rent

      Office space for rent in a growing Ohio city.
      1310 Hill Rd North, Pickerington, OH 43147
      View Details
    • Contact for pricing
      12,685 SF

      Restaurant Opportunity in Pickerington Retail

      Second generation restaurant space in a high-traffic retail corridor.
      10701 Blacklick Eastern Rd, Pickerington, OH 43147
      View Details
    • $1,100 /Mo
      900 SF

      Prime Retail Space in Pickerington

      900 SF retail/office space in up-and-coming Old Downtown Pickerington.
      18 E Columbus St, Pickerington, OH 43147
      View Details
    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.
    Optimara Dr. - Lot 140 Dr
    Pickerington, OH 43147
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.