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

    240 Main St Groveport, OH 43125-1124

    • Retail space
    • 4,950 SF
    • 0.42 lot acres
    OFF-MARKET
    Value Estimations
    $285,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-0096858
    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

    • Groveport Laundry / Laundromat
    • MoneyGram / Money Transfer Service
    • Norm's Market / Convenience Store / Pizza Takeout

    Property Details for 240 Main St

    Year built
    1961
    Construction
    WOOD
    Lot size
    0.42 lot acres
    Property size
    4,950 SF
    Property type
    Retail space
    APN
    185-000231
    APU
    185000231

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $245,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $324,000
      Market price range: $190k - $605k

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

    Location Insight

    • Map
    • Local Demand
    City
    Groveport
    County
    Franklin
    State
    Ohio
    Longitude
    -82.8932
    Latitude
    39.8535
    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
    $10,137
    $28,000
    $118,620
    $146,620
    -
    $80,000
    $338,900
    $418,900

    Comparable in this City

    • Value Estimation
      $485,000
      3,000 SF

      3700 Hamilton Rd

      RETAIL STORES (PERSONAL SERVICES) • 3,000 SF
      3700 Hamilton Rd, Groveport, OH 43125-9000
      View Details
    • Value Estimation
      $2,745,000
      6,396 SF

      3770 Hamilton Rd

      RETAIL STORES (PERSONAL SERVICES) • 6,396 SF
      3770 Hamilton Rd, Groveport, OH 43125-9000
      View Details
    • Value Estimation
      $225,000
      3,458 SF

      605-607 Main St

      RETAIL STORES (PERSONAL SERVICES) • 3,458 SF
      605-607 Main St, Groveport, OH 43125
      View Details
    • Value Estimation by Request
      1,188 SF

      272 Walnut St

      RETAIL STORES (PERSONAL SERVICES) • 1,188 SF
      272 Walnut St, Groveport, OH 43125-1401
      View Details
    • Value Estimation
      $600,000
      19,480 SF

      Hamilton Rd

      RETAIL STORES (PERSONAL SERVICES) • 19,480 SF
      Hamilton Rd, Groveport, OH 43125
      View Details
    • Value Estimation
      $390,000
      9,100 SF

      5800 Grn Pointe N Dr

      RETAIL STORES (PERSONAL SERVICES) • 9,100 SF
      5800 Grn Pointe N Dr, Groveport, OH 43125
      View Details

    Similar Nearby for Sale

    • $2,500,000
      3,689 SF

      Groveport Retail Storefront - $2.5M

      High-growth area, vacant storefront, 3,689 sq ft.
      2166 London Groveport Rd, Groveport, OH 43125
      View Details
    • Contact for pricing
      2.95 Acres

      Groveport Commercial Land

      2.95 Acres, Prime Location
      Madison Township Saltzgaber Rd & Groveport Rd, Groveport, OH 43125
      View Details
    • Contact for pricing
      1 SF

      Groveport Development Land Opportunity

      1.5-acre development land suitable for office or medical use.
      5370 Hendron Rd, Groveport, OH 43125
      View Details
    • $199,000
      1 SF

      Land Near Rickenbacker Airport

      1.5 acres of land for sale in Southeast Columbus.
      2690 London Groveport Rd, Groveport, OH 43125
      View Details
    • $64,000
      0.12 Acres

      Vacant Lot in Groveport, OH

      Vacant lot in historic Groveport area with unique road access.
      135 Front St, Groveport, OH 43125
      View Details
    • $4,550,000
      13.29 Acres

      Groveport Commercial Land Investment

      13.29 Acres, Prime Location, High Traffic
      4001 Hamilton Rd, Groveport, OH 43125
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,000 SF

      Retail Space with Anchor Tenant

      Retail space with high visibility and ample parking.
      3773-3841 S Hamilton Rd, Groveport, OH 43125
      View Details
    • Contact for pricing
      2,500 SF

      Retail Space in Groveport, Ohio

      Retail space with excellent connectivity and high traffic location.
      3101 Toy Rd, Groveport, OH 43125
      View Details
    • Contact for pricing
      115,095 SF

      Groveport Retail Center Opportunity

      Prime Groveport retail space available.
      3841 Hamilton Rd, Groveport, OH 43125
      View Details
    • Contact for pricing
      4,896 SF

      Retail Space in Groveport Plaza

      Retail space available in well-located Groveport shopping center.
      6011-6029 Groveport Rd, Groveport, OH 43125
      View Details
    • Contact for pricing
      6,429 SF

      Former Restaurant in Groveport, OH

      6,432 SF former restaurant on 1.673 acres for lease.
      3920 Hamilton Square Blvd, Groveport, OH 43125
      View Details
    • Contact for pricing
      358,949 SF

      Groveport Warehouse and Distribution Space

      358,949 SF warehouse with dock doors and parking.
      6030-6290 Opus Dr, Groveport, OH 43125
      View Details
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    240 Main St
    Groveport, OH 43125-1124
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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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