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    972 Galloway Rd Galloway, OH 43119

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    972 Galloway Rd Galloway, OH 43119

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    • Shopping malls
    • 17,800 SF
    • 4.98 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • TechCraze / Electronics & Wireless Store
    • swipejobs for Premier Employee Solutions & 1st Class Staffing / Employment Agency

    Property Details for 972 Galloway Rd

    Lot size
    4.98 lot acres
    Property size
    17,800 SF
    Property type
    Shopping malls
    Property subtype
    Lifestyle centers

    Description

    This exceptional 1,200 square foot retail space is situated within the bustling Galloway Square Shopping Center, offering unparalleled visibility and accessibility. Located on a high-traffic corner at the intersection of Hall and Galloway Roads, this property boasts an impressive 6,863 cars passing daily, ensuring maximum exposure for your business. Previously utilized as office space, the unit features a desirable open floor plan, providing flexibility for a variety of retail uses. The space is part of a larger 17,800 square foot retail center, offering a vibrant and established commercial environment. The lease terms are straightforward, with the tenant responsible for utilities including gas, electricity, water, sewage, and trash removal. This presents a fantastic opportunity for businesses seeking a prime location with high foot traffic and excellent visibility. The minimum divisible space is 1,200 square feet, and the maximum contiguous space available is also 1,200 square feet. The property sits on a 4.98-acre lot. Don't miss this chance to establish your business in a thriving commercial center.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Galloway
    County
    Franklin
    State
    Ohio
    Longitude
    -83.1586
    Latitude
    39.9308

    Comparable in this City

    • Value Estimation
      $1,815,000
      12,220 SF

      936 Galloway Rd, Unit 958

      SHOPPING CENTER, STRIP CENTER • 12,220 SF
      936 Galloway Rd, Galloway, OH 43119-8293
      View Details
    • Value Estimation
      $2,785,000
      29,880 SF

      5582 Hall Rd, Unit 5634

      SHOPPING CENTER, STRIP CENTER • 29,880 SF
      5582 Hall Rd, Galloway, OH 43119-8205
      View Details
    • Value Estimation
      $6,700,000
      79,172 SF

      5800 Broad St

      GROCERY, SUPERMARKET • 79,172 SF
      5800 Broad St, Galloway, OH 43119-9531
      View Details
    • Value Estimation by Request
      3,744 SF

      5820 Sullivant Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,744 SF
      5820 Sullivant Ave, Galloway, OH 43119-7501
      View Details
    • Value Estimation by Request
      4,668 SF

      6425-6429 Broad St

      AUTO REPAIR, GARAGE • 4,668 SF
      6425-6429 Broad St, Galloway, OH 43119
      View Details
    • Value Estimation by Request
      3,360 SF

      6460 Broad St

      AUTO REPAIR, GARAGE • 3,360 SF
      6460 Broad St, Galloway, OH 43119-9519
      View Details

    Similar Nearby for Sale

    • Contact for pricing

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      Land with Development Potential

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      Commercial Land on Broad Street

      Commercial site with frontage on Broad Street, mixed-use potential.
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      Land For Sale

      Land available for sale.
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    Similar Nearby for Lease

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      144,694 SF

      Class A Logistics Facility

      Class A logistics facility in Southwest Columbus, Ohio.
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      Commercial Land for Lease

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    Galloway, OH 43119
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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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