1994 Rainbow Dr Lancaster, OH 43130
- Commercial real estate
Current Use by Public Records
- Commercial real estate
Property Details for 1994 Rainbow Dr
- Property type
- Commercial real estate
Description
This exceptional 12.5-acre property, located at 1994 Rainbow Drive NE in Lancaster, Ohio, presents a unique opportunity to build a custom home while enjoying the convenience of city living. Situated within the Lancaster city limits (zip code 43130), this heavily wooded lot offers the privacy and tranquility of a rural setting, yet is close to all city amenities. The property encompasses 544,935.6 square feet and is currently zoned Residential Medium Density. All utilities are readily available at the road. Note that Carper Street dead-ends into this property. A significant investment will be required to access the property due to a ravine/stream crossing, estimated at $75,000 for a culvert or bridge. The asking price of $185,000 reflects this necessary infrastructure improvement. This is an ideal location for those seeking a secluded yet accessible homesite. Buyers should factor in the cost of the culvert/bridge construction into their overall budget. This property is being offered as-is.
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
- Lancaster
- County
- Fairfield
- State
- Ohio
- Longitude
- -82.5605439
- Latitude
- 39.755835
