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    2283 Carper St Lancaster, OH 43130
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    Property profile & analytics

    2283 Carper St Lancaster, OH 43130

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    • Commercial real estate
    Off-Market
    Property ID
    US66-3763749
    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

    • Commercial real estate

    Property Details for 2283 Carper St

    Property type
    Commercial real estate

    Description

    This exceptional 16,117.2 square foot corner lot in Lancaster, Ohio, presents a unique opportunity for building your dream home. Located at 2283 Carper Street, this property boasts a desirable location in a peaceful neighborhood. The lot offers the flexibility to orient your future home to face either Carper Street or Eldorado Street, providing versatile design options. Conveniently situated, the property features an existing water tap on the northeast corner and a sanitary sewer hookup on the southwest corner, simplifying the construction process. All utilities have been recently marked for easy access and planning. Electricity is provided by AEP. Importantly, this lot has never been used for fill and is not located within a floodplain, ensuring a stable and secure building site. The address is 2283 Carper Street, Lancaster, OH 43130. This is a rare opportunity to acquire a well-situated, build-ready lot in a desirable area. The asking price is $59,000.

    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
    -82.5604029
    Latitude
    39.754534

    Comparable in this City

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      Vacant Agricultural Land Opportunity

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      Residential Land in Established Community

      Buildable lot in desirable Lancaster neighborhood for custom home.
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    Similar Nearby for Sale

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      Land For Sale

      Land available for sale, totaling 5,227.2 square feet.
      Jefferson Ave, Lancaster, OH 43130
      View Details
    • $550,000

      Pad Ready Site Near Lowe's

      1.25 acre commercial land adjacent to retail and medical.
      N Columbus St, Lancaster, OH 43130
      View Details
    • Contact for pricing

      Land Available in Lancaster, OH

      Land available with strong population and income demographics.
      N Memorial Dr, Lancaster, OH 43130
      View Details
    • $295,000

      Industrial Land South of Main

      4.65 acre industrial land parcel for sale.
      403 S Ewing St, Lancaster, OH 43130
      View Details
    • Contact for pricing

      Vacant Agricultural Land Opportunity

      Vacant agricultural land near downtown Lancaster, OH.
      Greencrest Way, Lancaster, OH 43130
      View Details
    • $63,530
      Pending

      Residential Land in Established Community

      Buildable lot in desirable Lancaster neighborhood for custom home.
      Ridgewood Way NE, Lancaster, OH 43130
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    Similar Nearby for Lease

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      Commercial Land Across From Meijer

      Approximately 1.19 acre commercial land for lease.
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      Commercial Land Near Shopping Mall

      Commercial land with traffic light access near shopping and retail.
      1736 N Memorial Dr, Lancaster, OH 43130
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      Land for Rent Lancaster, OH

      Land available for rent in Lancaster, Ohio.
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      Land For Rent Lancaster, OH

      Land available for rent in Lancaster, Ohio.
      2845 Columbus Lancaster Rd NW, Lancaster, OH 43130
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      Land For Lease

      Land available for lease.
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      Commercial Pad Site for Lease

      Commercial land available for ground lease in Lancaster, Ohio.
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    2283 Carper St
    Lancaster, OH 43130
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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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