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

    1315 21st St Newark, OH 43055-3090

    • Outlet malls
    • 206,532 SF
    • 21.65 lot acres
    OFF-MARKET
    Value Estimations
    $13,865,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1977103
    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.

    Current Use by Public Records

    • Coinstar / Bank / Credit Union
    • Ceneviva Mark OD / Physician
    • Walmart Vision & Glasses / Ophthalmologist / (Bike/Boat/Book/etc) Store
    • Redbox / Cinema / (Bike/Boat/Book/etc) Store
    • Walmart Business Center / Tech Support Center / (Bike/Boat/Book/etc) Store

    Property Details for 1315 21st St

    Year built
    2003
    Lot size
    21.65 lot acres
    Property size
    206,532 SF
    Property type
    Outlet malls
    APN
    054-269904-00.088
    APU
    5426990400088

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $14,655,000
      Market price range: $5.37M - $21.3M
      AI Estimate
      $13,076,000
      Market price range: $6.25M - $20.1M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $14,930,000
      Current use
      RESTAURANT
      $21,275,000
      Change: +42% Conversion: Easy
      OFFICE BUILDING
      $19,775,000
      Change: +32% Conversion: Easy
      COMMERCIAL (GENERAL)
      $16,755,000
      Change: +12% Conversion: Easy
      AUTO REPAIR, GARAGE
      $16,475,000
      Change: +10% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    Licking
    State
    Ohio
    Longitude
    -82.4302
    Latitude
    40.0854
    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
    $192,401
    $1,041,920
    $3,630,380
    $4,672,300
    -
    $2,976,900
    $10,372,500
    $13,349,400

    Comparable in this City

    • Value Estimation
      $2,505,000
      68,998 SF

      315 Deo Dr

      WHOLESALE OUTLET, DISCOUNT STORE • 68,998 SF
      315 Deo Dr, Newark, OH 43055-3022
      View Details
    • Value Estimation by Request
      7,200 SF

      1230 Church St

      SHOPPING CENTER, STRIP CENTER • 7,200 SF
      1230 Church St, Newark, OH 43055-2156
      View Details
    • Value Estimation by Request
      21,300 SF

      223233 21st N St

      SHOPPING CENTER, STRIP CENTER • 21,300 SF
      223233 21st N St, Newark, OH 43055
      View Details
    • Value Estimation by Request
      10,560 SF

      1222 21st St

      SHOPPING CENTER, STRIP CENTER • 10,560 SF
      1222 21st St, Newark, OH 43055-3014
      View Details
    • Value Estimation
      $2,280,000
      110,229 SF

      16601680 21st N St

      REGIONAL SHOPPING CENTER, MALL • 110,229 SF
      16601680 21st N St, Newark, OH 43055
      View Details
    • Value Estimation
      $630,000
      10,000 SF

      2062 Cherry Vly Rd

      SHOPPING CENTER, STRIP CENTER • 10,000 SF
      2062 Cherry Vly Rd, Newark, OH 43055-1104
      View Details

    Similar Nearby for Sale

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      Newark CVS Pharmacy Investment

      High-yield, NNN-leased CVS pharmacy.
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      Established Pizza Business Opportunity

      Thriving pizza business with loyal customer base and growth potential.
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      Walgreens Net Lease Investment

      High-yield Walgreens in prime Newark, OH location.
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    • $596,900
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      Apartments and Storefront on Cherry

      Six apartments and a storefront in Newark, Ohio.
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      Multi-Tenant Income Property For Sale

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    Similar Nearby for Lease

    • $2,000 /Mo
      2,000 SF

      Retail Space on Deo Drive

      2,000 SF retail space with high visibility.
      238-305 Deo Dr, Newark, OH 43055
      View Details
    • Contact for pricing
      3,200 SF

      Adaptable Space for Lease

      3,200 SF space ideal for bar or restaurant.
      22 N Park Pl, Newark, OH 43055
      View Details
    • Contact for pricing
      27,368 SF

      Log Pond Plaza Retail Center

      Newark, Ohio Strip Mall - High Traffic
      1257-1299 Log Pond Dr, Newark, OH 43055
      View Details
    • $15 SF/Yr
      6,500 SF

      Retail Space with Renovation Scheduled

      Retail space for lease with upcoming facade remodel and parking.
      1012-1066 Mount Vernon Rd, Newark, OH 43055
      View Details
    • $20 SF/Yr
      24,392 SF

      Newark Medical Office Space

      Class A medical office suites, excellent location.
      135 Deo Dr, Newark, OH 43055
      View Details
    • Contact for pricing
      8,872 SF

      Retail Space in Newark, Ohio

      Retail spaces available in Newark, offering accessibility and visibility.
      1640-1680 N 21St St, Newark, OH 43055
      View Details
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    1315 21st St
    Newark, OH 43055-3090
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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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