Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    5005 Corinne Dr Ashville, OH 43103

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5005 Corinne Dr Ashville, OH 43103

    View on Map
    • Land
    • 1.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 5005 Corinne Dr

    Lot size
    1.00 lot acres
    Property type
    Land

    Description

    This exceptional commercial land opportunity in Ashville, Ohio, offers 1-5 acres of build-ready land ideally situated just off US-23. Located at 5005 Corinne Dr, 43103, Pickaway County, this property boasts high visibility with a daily traffic count of 31,089 vehicles. All utilities are readily available, making it convenient for immediate development. The land is zoned for commercial use and is perfect for a variety of businesses, including restaurants, banks, retail shops, or hotels. Its strategic location benefits from the proximity of a new Sheetz and is surrounded by a growing residential market, with over 250 new residential units added in the last two years and an additional 300 units planned. This presents a significant opportunity for businesses seeking high visibility and access to a substantial customer base. The price is $299,000 per acre, and the property is available for sale, lease, or build-to-suit options. This is a rare chance to secure a prime location in a thriving market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Ashville
    County
    Pickaway
    State
    Ohio
    Longitude
    -82.9885
    Latitude
    39.723

    Comparable in this City

    • Value Estimation by Request
      195.00 Acres

      Oh-752

      Land • 195.00 Acres
      0 Oh-752, Ashville, OH 43103
      View Details
    • Value Estimation by Request
      1.45 Acres

      O Corrine Dr

      Land • 1.45 Acres
      0 O Corrine Dr, South Bloomfield, OH 43103
      View Details
    • Value Estimation by Request
      1.39 Acres

      Us-23

      Land • 1.39 Acres
      0 Us-23, Ashville, OH 43103
      View Details
    • Value Estimation by Request
      334.00 Acres

      13155 Us-23

      Multifamily properties • 25,000 SF
      13155 Us-23, Ashville, OH 43103
      View Details
    • Value Estimation by Request
      1.59 Acres

      Union St

      Land • 8,000 SF
      0 Union St, South Bloomfield, OH 43103
      View Details
    • Value Estimation by Request
      258.62 Acres

      14337 Us-23

      Land • 258.62 Acres
      14337 Us-23, Ashville, OH 43103
      View Details

    Similar Nearby for Sale

    • $10,900,000

      188 Acre Development Opportunity

      188 acres with 25,038+ SF of building improvements in Ashville.
      13155 S 23, Ashville, OH 43103
      View Details
    • $4,960,000
      62.00 Acres

      61.9 Acres Raw Land

      61.9 acres of raw land in Ashville, Ohio.
      Duvall Rd, Ashville, OH 43103
      View Details
    • $10,900,000

      188 Acres in South Bloomfield

      188 acres with retail opportunity in growing Pickaway County.
      13347 Us Highway 23, Ashville, OH 43103
      View Details
    • $13,917,996

      Undeveloped Land on US Route 23

      76.374 acres of undeveloped land with future development potential.
      Ashville Rd, South Bloomfield, OH 43103
      View Details
    • Contact for pricing

      145 Acres on US-23

      145 acres of land with frontage on US-23.
      Us Highway 23, Ashville, OH 43103
      View Details
    • Contact for pricing

      South Bloomfield Acreage on US 23

      258.62 acres with highway frontage in fast-growing South Bloomfield.
      14337 Us Highway 23, South Bloomfield, OH 43103
      View Details

    Similar Nearby for Lease

    • $25 SF/Yr
      8,000 SF

      Prime Retail Space, Harrison Twp.

      New 8,000 SF retail building on 1.59 acres.
      0 Union St, South Bloomfield, OH 43103
      View Details
    • Contact for pricing
      31 SF

      Columbus Development Opportunity Land

      31 acres of land available for lease in Columbus.
      3776 Duvall Rd, Ashville, OH 43103
      View Details
    • Contact for pricing

      Columbus Development Opportunity Land

      31 acres of land available for lease in Columbus.
      3586 Duvall Rd, Ashville, OH 43103
      View Details
    • Contact for pricing
      773,114 SF

      Rickenbacker Logistics Park Industrial Space

      Industrial space available for lease in Rickenbacker Logistics Park.
      Air Base Rd, Ashville, OH 43103
      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.
    5005 Corinne Dr
    Ashville, OH 43103
    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

    5005 Corinne Dr, Ashville, OH, 43103

    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!