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    Property profile & analytics

    Farm Bank Way Grove City, OH 43123

    • Retail properties
    • 1.00 lot acres
    For Sale
    View listing
    $140,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 0 Farm Bank Way

    Lot size
    1.00 lot acres
    Property type
    Retail properties
    Property subtype
    Land

    Description

    This exceptional Grove City, Ohio opportunity presents two fully approved, site-ready commercial office pads, each capable of supporting up to 4,000 square feet of construction. Located on Farm Bank Way in Franklin County, zip code 43123, this one-acre lot is zoned COM and offers significant advantages for developers and businesses. Each pad is priced at $70,000, totaling $140,000 for both. All utilities are already in place, eliminating significant upfront costs and expediting the construction process. A substantial benefit is the existing 15-year property tax abatement on improvements, offering considerable long-term savings. The property is ideal for build-to-suit projects, allowing for customized designs to meet specific business needs. This is a rare chance to acquire prime commercial real estate in a thriving location with significant financial incentives. Don't miss this opportunity to establish your business in a highly desirable area with streamlined development potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Grove City
    County
    Franklin
    State
    Ohio
    Longitude
    -83.0846
    Latitude
    39.8945

    Comparable in this City

    • Value Estimation by Request

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      2740 London Groveport Rd

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      10,325 SF

      4108-4120 Buckeye Pkwy

      Neighborhood centers • 10,325 SF
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      16.00 Acres

      1209 Stringtown Rd

      Land • 16.00 Acres
      1209 Stringtown Rd, Grove City, OH 43123
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    • Value Estimation by Request
      1.50 Acres

      6205 Hoover Rd

      Land • 1.50 Acres
      6205 Hoover Rd, Grove City, OH 43123
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      3.00 Acres

      Southwest Blvd

      Land • 3.00 Acres
      0 Southwest Blvd, Grove City, OH 43123
      View Details

    Similar Nearby for Sale

    • $140,000
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      Grove City Office Pads - Prime Location

      Two build-ready pads, 4,000 sqft potential each.
      0 Farm Bank Way, Grove City, OH 43123
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    • $1,100,000
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      Prime Retail Building in Grove City

      Retail building for sale or lease on a busy intersection.
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      Luxury Pet Resort For Sale

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      Grove City Retail Opportunity

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      Grove City Retail Space - High Traffic

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      Grove City Development Land

      16 Acres, Prime Development Site
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    Similar Nearby for Lease

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      Meijer In-Store Retail Space

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      Land For Rent Grove City

      Land available for rent in Grove City, Ohio.
      4046 Knapp Dr, Grove City, OH 43123
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    • Contact for pricing
      10,800 SF

      Retail Space in Grove City

      Retail property available for lease in Grove City, Ohio.
      1947 Stringtown Rd, Grove City, OH 43123
      View Details
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    Farm Bank Way
    Grove City, OH 43123
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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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