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    121 Damascus Rd Marysville, OH 43040-9618
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    Property profile & analytics

    121 Damascus Rd, Marysville, OH 43040-9618

    View on Map
    • Strip malls
    • 14,593 SF
    • 1.00 lot acres
    Off-Market
    Last Sale Feb 24, 2023
    $675,000
    Property ID
    US66-1182347
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $710,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Stokes Agency Counseling Services / Family Counselor
    • Neaton Marysville satellite office / Corporate Office
    • Accident Injury Attorneys Navarro Office / Law Firm

    Property Details for 121 Damascus Rd

    Year built
    1996
    Construction
    BRICK
    Lot size
    1.00 lot acres
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    29-0019010.1060
    APU
    2900190101060

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Feb 24, 2023 $675,000 Mcdonalds Real Estate Company Connolly Construction Co Limited Warranty Deed —
    Dec 3, 2020 $1,595,000 Monarch Plaza LLC Lutz Plaza Ltd Warranty Deed $1.4M · The State Bank & Trust Co
    Jun 24, 2016 — Lutz Plaza Ltd — Trustees Deed · related $245k · Liberty Nat'l Bk
    Dec 5, 2005 — Lutz Plaza Ltd — Trustees Deed · related $195k · Peoples Bk&tr Co/madison Cnty
    — — Lutz Plaza Ltd — Deed Of Trust · related $80k · Liberty Nat'l Bk

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $950,000
      ML approach
      $785,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $469,000
      Market price range: $238k - $771k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $440,000
      Current use
      AUTO REPAIR, GARAGE
      $1,080,000
      Change: +146% Conversion: Difficult
      RETAIL STORES
      $1,055,000
      Change: +140% Conversion: Easy
      MEDICAL BUILDING
      $1,000,000
      Change: +127% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Marysville
    County
    Union
    State
    Ohio
    Longitude
    -83.3916
    Latitude
    40.24
    CBSA code
    18140
    CBSA name
    COLUMBUS, OH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $17,960
    $70,000
    $171,450
    $241,450
    -
    $200,000
    $489,870
    $689,870

    Comparable in this City

    • Value Estimation
      $825,000
      53,886 SF

      710 770th Colemans Xing Blvd

      SHOPPING CENTER, STRIP CENTER
      710 770th Colemans Xing Blvd, Marysville, OH 43040
      View Details
    • Value Estimation by Request

      5th St

      SHOPPING CENTER, STRIP CENTER
      5th St, Marysville, OH 43040
      View Details
    • Value Estimation by Request
      1.70 Acres

      Colemans Xing Blvd

      SHOPPING CENTER, STRIP CENTER
      Colemans Xing Blvd, Marysville, OH 43040
      View Details
    • Value Estimation
      $3,605,000
      1.95 Acres

      643-695 Colemans Xing Blvd

      SHOPPING CENTER, STRIP CENTER
      643-695 Colemans Xing Blvd, Marysville, OH 43040
      View Details
    • Value Estimation by Request
      2,460 SF

      302 5th St

      SHOPPING CENTER, STRIP CENTER
      302 5th St, Marysville, OH 43040-1212
      View Details
    • Value Estimation by Request
      4,266 SF

      306 312th E 5th St

      SHOPPING CENTER, STRIP CENTER
      306 312th E 5th St, Marysville, OH 43040
      View Details

    Similar Nearby for Sale

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      New construction retail space with high traffic potential.
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      Land in Growing Marysville Area

      Land near headquarters of major companies and future technology park.
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      7,600 SF

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      Two-story building with retail, storage, and shop functionality.
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    • $650,000

      Retail and Warehouse Space Available

      Versatile commercial property with retail, storage, and shop functionality.
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      1,620 SF

      Prime Marysville Commercial Property

      Commercial property in the heart of Marysville, ready to build.
      111 W 7Th St, Marysville, OH 43040
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      8,905 SF

      Versatile Commercial Space in Marysville

      Spacious commercial property with ample parking near Uptown Marysville.
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    Similar Nearby for Lease

    • Contact for pricing
      2,200 SF

      New Retail Spaces Available

      New construction retail spaces available in multi-tenant strip center.
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      View Details
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      Restaurant/Bar Space in Downtown Marysville

      Restaurant/bar space with patio and parking in downtown Marysville.
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      View Details
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      New Retail Development Spaces Available

      New retail spaces in a vibrant suburban area.
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      Downtown Marysville Creative Flex Space

      Creative flex space in downtown Marysville with functional warehouse features.
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      Retail Space Inside Meijer Store

      Exceptional retail opportunity within high-traffic Meijer stores in the Midwest.
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    • Contact for pricing
      10,000 SF

      Retail Space Available For Rent

      Retail space available for lease in Marysville, Ohio.
      OH-736 & Fox Fire Dr, Marysville, OH 43040
      View Details
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    121 Damascus Rd
    Marysville, OH 43040-9618
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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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