1209 Stringtown Rd Grove City, OH 43123
- Commercial real estate
- 16.00 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 1209 Stringtown Rd
- Lot size
- 16.00 lot acres
- Property type
- Commercial real estate
Description
This exceptional 16-acre property in Grove City, Ohio (Franklin County, zip code 43123, located at 1209 Stringtown Rd) presents a unique investment opportunity. The primary 10-acre site, with approximately 9 developable acres, is ideally suited for a mixed-use development. Currently zoned residential and commercial, Grove City actively supports annexation from Jackson Township and rezoning as a Planned Urban District (PUD). The city's plan includes a medical office component on approximately 3 acres, addressing the significant demand fueled by a less than 1% vacancy rate and the proximity to the OhioHealth Hospital (completed 2018). In return for this medical space, the city will permit a five-story apartment, condominium, or senior housing project, capitalizing on Grove City's rapid growth as a Columbus suburb. The strong residential demand is driven by Columbus's status as one of the nation's fastest-growing cities and the Midwest's fastest-growing MSA. An additional 6 acres adjacent to the site are available for purchase, allowing for immediate expansion or future development. The asking price for this exceptional opportunity is $6,600,000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Grove City
- County
- Franklin
- State
- Ohio
- Longitude
- -83.029839
- Latitude
- 39.8741812
