Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    224 High St Lancaster, OH 43130
    Back to Search
    Property profile & analytics

    224 High St Lancaster, OH 43130

    View on Map
    • Office Units
    • 21,600 SF
    Off-Market
    Property ID
    US66-1505528
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lancaster Masonic Lodge #57 / Volunteer Organization / Community Center
    • Free & Accepted Masons Ohio / Volunteer Organization / Community Center
    • Mt. Pleasant White Shrine of Jerusalem #57 / Volunteer Organization / Community Center

    Property Details for 224 High St

    Property size
    21,600 SF
    Property type
    Office Units
    Property subtype
    Flex space

    Description

    This unique 4,000 square foot lower level space, located at 224 S High St in Lancaster, Ohio, offers a versatile opportunity for various businesses. Situated within a historic building in Fairfield County, this single-tenant space boasts 9-foot ceilings and is completely dry, freshly painted, and sealed. The space is secure and includes one private restroom. The lease agreement includes utilities and electricity, unless substantial usage necessitates separate metering. This property is ideal for secure storage, creative office space, or flexible warehouse use. Ample paved parking is available for convenient access. The total building size is 21,600 square feet, with this 4,000 square foot space currently vacant. The property is classified as Office, Industrial, and Special Purpose, and is suitable for a variety of uses. Its downtown Lancaster location provides excellent visibility and accessibility. This is a rare opportunity to lease a well-maintained, secure, and conveniently located space in a thriving Ohio community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Lancaster
    County
    Fairfield
    State
    Ohio
    Longitude
    -82.598012702707
    Latitude
    39.71150457624

    Comparable in this City

    • $3,000 /Mo
      3,360 SF

      Office Space on Granville Pike

      Office spaces available for lease with high visibility and access.
      1981 Granville Pike NE, Lancaster, OH 43130
      View Details
    • $3,683 /Mo
      9,300 SF

      Downtown Lancaster Office Suite For Rent

      Prime office suite in downtown Lancaster, available March 1, 2026.
      113 W Wheeling St, Lancaster, OH 43130
      View Details
    • Contact for pricing

      Versatile Retail/Office Space Available

      Adaptable space suitable for retail, medical, or office use.
      1145 E Main St, Lancaster, OH 43130
      View Details
    • Contact for pricing
      30,000 SF

      Lancaster Office Space Available

      30,000 square feet of office space for rent.
      1432 NW Collins Rd, Lancaster, OH 43130
      View Details
    • New
      $8 SF/Yr
      34,896 SF

      Downtown Lancaster Second-Floor Office Space

      Second-floor office space for lease in downtown Lancaster, Ohio.
      230 N Columbus St, Lancaster, OH 43130
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      60,176 SF

      60,000 SF Industrial Building

      60,000 SF building with office space, docks, and drive-ins.
      1091 Mill Park Dr, Lancaster, OH 43130
      View Details
    • New
      $1,099,900
      3,310 SF

      Lancaster Farm/Estate with Commercial Building

      47.9-acre farm with a house and commercial building.
      2145 West Point Rd, Lancaster, OH 43130
      View Details
    • $3,000,000
      14,478 SF

      NNN Leased Walgreens For Sale

      NNN leased Walgreens in high-traffic retail corridor.
      859 E Main St, Lancaster, OH 43130
      View Details
    • $1,274,515
      10,640 SF

      Dollar General NNN Investment Opportunity

      NNN Dollar General in Columbus, OH MSA with zero responsibilities.
      1950 E Main St, Lancaster, OH 43130
      View Details
    • $159,900

      Lancaster Industrial Land Opportunity

      Vacant Land, Light Industrial Zoning
      1631 Hubbard Dr, Lancaster, OH 43130
      View Details
    • $2,650,000
      9,954 SF

      Lancaster Medical Office Investment Opportunity

      Single-tenant medical office building leased through 2032.
      1781 Countryside Dr, Lancaster, OH 43130
      View Details

    Similar Nearby for Lease

    • $3,000 /Mo
      3,360 SF

      Office Space on Granville Pike

      Office spaces available for lease with high visibility and access.
      1981 Granville Pike NE, Lancaster, OH 43130
      View Details
    • $3,683 /Mo
      9,300 SF

      Downtown Lancaster Office Suite For Rent

      Prime office suite in downtown Lancaster, available March 1, 2026.
      113 W Wheeling St, Lancaster, OH 43130
      View Details
    • Contact for pricing

      Versatile Retail/Office Space Available

      Adaptable space suitable for retail, medical, or office use.
      1145 E Main St, Lancaster, OH 43130
      View Details
    • Contact for pricing
      30,000 SF

      Lancaster Office Space Available

      30,000 square feet of office space for rent.
      1432 NW Collins Rd, Lancaster, OH 43130
      View Details
    • New
      $8 SF/Yr
      34,896 SF

      Downtown Lancaster Second-Floor Office Space

      Second-floor office space for lease in downtown Lancaster, Ohio.
      230 N Columbus St, Lancaster, OH 43130
      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.
    224 High St
    Lancaster, OH 43130
    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
    224 High St, Lancaster, OH, 43130
    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!