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

    Central Ave Grove City, OH 43123

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

    Current Use by Public Records

    • Land

    Property Details for 0 Central Ave

    Property type
    Land

    Description

    This exceptional 2,613.6 square foot residential lot presents a fantastic opportunity for building a new home in the desirable Grove City, Ohio area. Located at 0 Central Avenue, Urbancrest, this property boasts a convenient location within Franklin County, offering easy access to local amenities and attractions. The lot is situated in a peaceful neighborhood, providing a tranquil setting while remaining close to urban conveniences. With its generous size, this lot offers ample space for a custom-designed home, allowing for creative freedom and personalized living. The asking price for this remarkable property is $60,000, making it an attractive investment for those seeking to build their dream home in a sought-after Ohio community. The property's address is 0 Central Avenue, Urbancrest, OH 43123, and its precise coordinates are latitude 39.8980392 and longitude -83.0847981. This is a rare opportunity to acquire a sizable lot in a desirable location, perfect for creating a personalized and comfortable living space. Don't miss out on this chance to build your dream home in a thriving community. The property is classified as land and is ready for immediate development. All necessary utilities are available in the area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Grove City
    County
    Franklin
    State
    Ohio
    Longitude
    -83.0848
    Latitude
    39.898

    Comparable in this City

    • Value Estimation by Request
      2.50 Acres

      Hoover Rd

      Land • 2.50 Acres
      0 Hoover Rd, Grove City, OH 43123
      View Details
    • Value Estimation by Request

      5825 Beatty Rd

      Farms
      5825 Beatty Rd, Grove City, OH 43123
      View Details
    • Value Estimation by Request

      Central Ave

      Land
      0 Central Ave, Grove City, OH 43123
      View Details
    • Value Estimation by Request

      3711 Alkire Rd

      Land
      3711 Alkire Rd, Grove City, OH 43123
      View Details
    • Value Estimation by Request

      2328 Hoover Rd

      Land
      2328 Hoover Rd, Grove City, OH 43123
      View Details
    • Value Estimation by Request

      2215 Big Run Rd

      Land
      2215 Big Run Rd, Grove City, OH 43123
      View Details

    Similar Nearby for Sale

    • $6,600,000
      16.00 Acres

      Grove City Development Land

      16 Acres, Prime Development Site
      1209 Stringtown Rd, Grove City, OH 43123
      View Details
    • $1,375,000
      2.50 Acres

      Hoover Road Development Site

      Grove City, OH: 2.5-acre prime land
      0 Hoover Rd, Grove City, OH 43123
      View Details
    • $600,000
      1.50 Acres

      Grove City Commercial Land - 1.5 Acres

      Prime 1.5-acre commercial lot in Grove City, Ohio.
      6205 Hoover Rd, Grove City, OH 43123
      View Details
    • $1,400,000

      Grove City Commercial Land Opportunity

      Prime 5.33-acre lot, ideal for development.
      5875 Haughn Rd, Grove City, OH 43123
      View Details
    • $1,200,000

      Grove City Development Land

      5.26 Acres, $1.2M Asking
      3711 Alkire Rd, Grove City, OH 43123
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Land For Rent Grove City

      Land available for rent in Grove City, Ohio.
      4046 Knapp Dr, Grove City, OH 43123
      View Details
    • Contact for pricing

      Commercial Pad Site For Lease

      Commercial land available for ground lease in Grove City, Ohio.
      1548 Stringtown Rd, Grove City, OH 43123
      View Details
    • Contact for pricing

      Prime Commercial Land For Lease

      2.68 acres of commercial land with high traffic exposure.
      3131 Broadway, Grove City, OH 43123
      View Details
    • Contact for pricing
      2,090 SF

      Meijer In-Store Retail Space

      Grove City, OH: Prime Retail Opportunity
      2811 London Groveport Rd, Grove City, OH 43123
      View Details
    • $15 SF/Yr
      1,342 SF

      Grove City Office/Medical Space

      Office/Medical space available in Grove City, OH in 2026.
      2041-2067 Stringtown Rd, Grove City, OH 43123
      View Details
    • $24 SF/Yr
      2,428 SF

      Retail Space in Strong Corridor

      Retail space with high visibility and ample parking available.
      2788-2814 London Groveport Rd, Grove City, OH 43123
      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.
    Central Ave
    Grove City, OH 43123
    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.