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

    2240 Creekside Pkwy Lockbourne, OH 43137-9314

    • Warehouses
    • 135,000 SF
    • 14.44 lot acres
    OFF-MARKET
    Last Sale
    Dec 11, 2023
    $11,153,923
    Value Estimations
    $10,995,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-3072033
    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

    • Warehouses

    Property Details for 2240 Creekside Pkwy

    Year built
    2011
    Lot size
    14.44 lot acres
    Property size
    135,000 SF
    Property type
    Warehouses
    APN
    152-001840
    APU
    152001840

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $10,980,000
      ML approach
      $8,365,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $13,331,000
      Market price range: $5.65M - $18.7M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $11,370,000
      Current use
      RETAIL STORES
      $16,870,000
      Change: +48% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Lockbourne
    County
    Franklin
    State
    Ohio
    Longitude
    -82.9508
    Latitude
    39.8448
    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
    $36,774
    $505,300
    $2,252,540
    $2,757,840
    -
    $1,443,700
    $6,435,800
    $7,879,500

    Comparable in this City

    • Value Estimation
      $22,020,000
      253,764 SF

      2500 Creekside Pkwy

      WAREHOUSE, STORAGE • 253,764 SF
      2500 Creekside Pkwy, Lockbourne, OH 43137-2502
      View Details
    • Value Estimation
      $17,270,000
      205,428 SF

      London Groveport Rd

      WAREHOUSE, STORAGE • 205,428 SF
      London Groveport Rd, Lockbourne, OH 43137
      View Details
    • Value Estimation
      $2,040,000
      590,225 SF

      1595 London Groveport Rd

      WAREHOUSE, STORAGE • 590,225 SF
      1595 London Groveport Rd, Lockbourne, OH 43137-9259
      View Details
    • Value Estimation by Request
      5,850 SF

      1881 Weigand Rd

      MINI-WAREHOUSE, STORAGE • 5,850 SF
      1881 Weigand Rd, Lockbourne, OH 43137-6506
      View Details
    • Value Estimation
      $2,380,000
      1,628,640 SF

      6241 Shook Rd

      WAREHOUSE, STORAGE • 1,628,640 SF
      6241 Shook Rd, Lockbourne, OH 43137-9306
      View Details
    • Value Estimation by Request
      175,000 SF

      2373 Global Dr

      Distribution properties • 175,000 SF
      2373 Global Dr, Lockbourne, OH 43137
      View Details

    Similar Nearby for Sale

    • $700,000
      1,943 SF

      High Street Restaurant Opportunity

      Prime 1.52-acre restaurant location
      6251 High St, Lockbourne, OH 43137
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    • Contact for pricing
      387 SF

      387-Acre Land Near Airport

      Rare 387-acre property suitable for quarry operations and specialized land uses.
      7420 Morehead Rd, Lockbourne, OH 43137
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    • $700,000
      1,943 SF

      Restaurant Space on High Street

      1,943 SF restaurant on 1.52 acres with high traffic.
      6251 S High St, Lockbourne, OH 43137
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    • $3,995,000
      13.10 Acres

      Prime Lockbourne Commercial Land

      13+ Acres, High St Frontage, Opportunity Zone
      6515 High St, Lockbourne, OH 43137
      View Details
    • $129,500
      3,154 SF

      Lockbourne Church - $129,500

      Historic Church Building, Prime Location
      160 Commerce St, Lockbourne, OH 43137
      View Details
    • $475,500
      6.10 Acres

      Lockbourne Commercial Land - 6.1 Acres

      Prime Truck Storage Location near Rickenbacker Airport
      6445 High St, Lockbourne, OH 43137
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      14,100 SF

      Lockbourne Warehouse Space Available

      14,100 sqft warehouse space for lease in Lockbourne, Ohio.
      1815 Beggrow St, Lockbourne, OH 43137
      View Details
    • $12 SF/Yr
      175,000 SF

      Lockbourne Warehouse Space Available

      175,000 SF Warehouse, Flexible Lease Options
      2373 Global Dr, Lockbourne, OH 43137
      View Details
    • $48,000
      265,716 SF

      6.1-Acre Industrial Land, Lockbourne, OH

      Prime Industrial Land Near Rickenbacker Airport
      6445 High St, Lockbourne, OH 43137
      View Details
    • Contact for pricing
      664,290 SF

      Lockbourne Industrial Land Lease

      15-Acre Industrial Storage Site, Ohio
      10367 Ashville Pike, Lockbourne, OH 43137
      View Details
    • Contact for pricing
      473,760 SF

      Industrial Land for Lease

      Land available for lease in master-planned industrial park.
      6725 Schieser Farms Rd West, Lockbourne, OH 43137
      View Details
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    Lockbourne, OH 43137-9314
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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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