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    6583 Xing Canal Winchester, OH 43110
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    6583 Xing, Canal Winchester, OH 43110

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    • Land
    • 10.37 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 6583 Xing

    Lot size
    10.37 lot acres
    Property type
    Land

    Description

    This exceptional 10.37-acre parcel in Canal Winchester, Ohio, presents a rare opportunity for multifamily development. Zoned for multifamily use, this property allows for the construction of up to 112 units. Its strategic location boasts over 500 feet of frontage on Gender Road, providing excellent visibility and accessibility. The land is conveniently situated adjacent to a Kroger-anchored shopping center, ensuring a vibrant and convenient environment for future residents. The property's proximity to Interstates 270 and 70 offers easy access to major transportation routes. All utilities are readily available, simplifying the development process. Furthermore, the property benefits from City of Columbus zoning and existing development plans are available for review upon request. The APN is 530-259628-00. This prime location, combined with the potential for a substantial multifamily development, makes this an exceptional investment opportunity. The address is 6583 Dorothy's Crossing, Canal Winchester, OH 43110. This Franklin County property offers a unique chance to capitalize on the growing demand for housing in this desirable area. An existing unit in an adjacent development is available for use as a sales/leasing office.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Canal Winchester
    County
    Franklin
    State
    Ohio
    Longitude
    -82.8224
    Latitude
    39.9039

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    Similar Nearby for Sale

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      25.87 Acres Development Opportunity

      Land entitled for residential units and assisted living facility.
      Hill Rd, Pickerington, OH 43110
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      Ready-to-Build Land Parcel

      Land parcel with utilities on site and approved plans.
      7263 Lehman Park Pl, Canal Winchester, OH 43110
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      Land with Approved Plans

      Land available with utilities and approved development plans.
      7258 Lehman Park Pl, Canal Winchester, OH 43110
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      Land For Sale

      Land available for sale in Canal Winchester, OH.
      Gender Rd, Canal Winchester, OH 43110
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      33,065 SF

      27-Unit Multifamily Property For Sale

      27 units with community pool and clubhouse in Columbus, Ohio.
      6523 Creek Dr Dorothy's, Columbus, OH 43110
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    Similar Nearby for Lease

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      35-AC Mixed-Use Development Opportunity

      Mixed-use development site in high-growth area near Columbus.
      8865 Diley Rd, Canal Winchester, OH 43110
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      Mixed-Use Development Land Available

      35-acre mixed-use development site in a high-growth area.
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      Prime Land in High-Growth Area

      35-AC mixed-use development site in a fast-growing Columbus suburb.
      Diley Rd NW, Canal Winchester, OH 43110
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      197,465 SF

      Industrial Space in Canal Winchester

      Available warehouse and distribution space in Canal Winchester, Ohio.
      6260-6300 Winchester Ln, Canal Winchester, OH 43110
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      221,316 SF

      Commercial Property in Canal Winchester

      Located off US-33 in Canal Winchester, Ohio.
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      221,316 SF

      Warehouse Space in Canal Winchester

      Available warehouse space in Canal Winchester, Ohio totaling 221,316 square feet.
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    Canal Winchester, OH 43110
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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
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