Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    37 And Troy Rd Delaware, OH 43015
    Back to Search
    Property profile & analytics

    37 And Troy Rd Delaware, OH 43015

    View on Map
    • Lifestyle centers
    • 64,137 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 37 And Troy Rd

    Property size
    64,137 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    This exceptional retail opportunity presents 64,137 square feet of space within the Georgetown Shopping Center, ideally situated at the intersection of West Central Avenue (SR 37) and Troy Road in Delaware, Ohio (zip code 43015). Currently, 6,000 square feet is available for lease, offering a flexible space suitable for a variety of retail uses. The center boasts a total of 200 parking spaces, ensuring ample convenience for customers. The property is classified as a single-tenant retail shopping center within Delaware County. The available space ranges from 800 to 6,000 square feet, providing options for businesses of varying sizes. This high-traffic location benefits from excellent visibility and accessibility, making it an attractive proposition for businesses seeking to establish or expand their presence in the thriving Delaware market. The property's strategic location at a major intersection ensures high visibility and easy access for customers. This is a rare opportunity to secure a prominent retail space in a well-established shopping center with significant potential for growth and success. Interested parties are encouraged to inquire for further details and leasing information. The property is located in Delaware County, Ohio.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Delaware
    County
    Delaware
    State
    Ohio
    Longitude
    -83.0904
    Latitude
    40.3064

    Comparable in this City

    • Value Estimation by Request
      114,805 SF

      803-837 Houk Rd

      Community centers • 114,805 SF
      803-837 Houk Rd, Delaware, OH 43015
      View Details
    • Value Estimation by Request
      1.11 Acres

      Troy Rd

      MINI-MALL • 1.11 Acres
      Troy Rd, Delaware, OH 43015
      View Details
    • Value Estimation by Request
      7,812 SF

      30 Wilmer St

      MINI-MALL • 7,812 SF
      30 Wilmer St, Delaware, OH 43015
      View Details
    • Value Estimation by Request
      4,087 SF

      711 Us Hwy 42nd N

      MINI-MALL • 4,087 SF
      711 Us Hwy 42nd N, Delaware, OH 43015-8840
      View Details
    • Value Estimation
      $960,000
      22,650 SF

      1139 Columbus Pike

      SHOPPING CENTER, STRIP CENTER • 22,650 SF
      1139 Columbus Pike, Delaware, OH 43015-2713
      View Details
    • Value Estimation by Request
      6,912 SF

      554 Central Ave

      SHOPPING CENTER, STRIP CENTER • 6,912 SF
      554 Central Ave, Delaware, OH 43015-1499
      View Details

    Similar Nearby for Sale

    • $2,488,800
      4,128 SF

      Prime Development Opportunity on U.S. 23

      10-acre site on U.S. 23 suitable for mixed-use development.
      4277 Columbus Pike, Delaware, OH 43015
      View Details
    • Contact for pricing

      Land For Redevelopment Opportunity

      5.072 acres available for mixed-use development.
      1853 W William St, Delaware, OH 43015
      View Details
    • $1,700,000

      Established Restaurant Space For Sale

      Thriving restaurant property with high foot traffic in downtown Delaware.
      66 N Sandusky St, Delaware, OH 43015
      View Details
    • $50,000
      1,400 SF

      Boutique Apparel Business For Sale

      Established boutique apparel business with FF&E and inventory included.
      29 North Sandusky St, Delaware, OH 43015
      View Details
    • $2,300,000

      Downtown Delaware Multi-Level Commercial Building

      Unique commercial building in downtown Delaware, ideal for owner or investor.
      17 N Sandusky St, Delaware, OH 43015
      View Details
    • Contact for pricing
      9,403 SF

      Downtown Delaware Retail Property

      Retail property with redevelopment opportunity in downtown Delaware, OH.
      57 N Sandusky St, Delaware, OH 43015
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,206 SF

      Retail Space in Delaware, OH

      Retail space available in a multi-tenant strip center.
      1550 Sunbury Rd, Delaware, OH 43015
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space Near Kroger

      Second-generation food space near high-traffic intersection and growing residential area.
      803-837 N Houk Rd, Delaware, OH 43015
      View Details
    • Contact for pricing
      152,253 SF

      Delaware Community Plaza Retail Space

      Thriving Delaware, Ohio shopping plaza; spaces available.
      0 Columbus Pike, Delaware, OH 43015
      View Details
    • Contact for pricing

      Retail Development Opportunity in Delaware

      Retail spaces available in a new Delaware development.
      1250 Sunbury Rd, Delaware, OH 43015
      View Details
    • $20 SF/Yr

      Retail and Office Space Available

      Retail and office spaces in a new mixed-use complex.
      15 Flax St, Delaware, OH 43015
      View Details
    • $18 SF/Yr

      Customizable Retail Space in Delaware

      3000 SF retail/restaurant space in downtown Delaware, Ohio.
      41 N Sandusky St, Delaware, OH 43015
      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.
    37 And Troy Rd
    Delaware, OH 43015
    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
    37 And Troy Rd, Delaware, OH, 43015
    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!