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    2984 Canyon Rd Granville, OH 43023
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    2984 Canyon Rd Granville, OH 43023

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    • Residential land & home lots
    Off-Market
    Property ID
    US66-1187899
    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

    • Residential land & home lots

    Property Details for 2984 Canyon Rd

    Property type
    Residential land & home lots

    Description

    Discover a rare gem with this enchanting approximately 5.96-acre parcel, where natural beauty meets endless potential. This exceptional piece of land is a true rarity in Granville School District featuring a picturesque ravine that provides the perfect setting for a dream home with a walk-out basement. The property offers unparalleled privacy and tranquility, making it an ideal retreat from the hustle and bustle of everyday life. The completed construction driveway extends back to a very private location where your dream home could be built. Imaging sitting on your back porch enjoying the view of trees as far as the eye can see. Please do not walk the property without a real estate agent and confirmed showing approval.

    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
    Granville
    County
    Licking
    State
    Ohio
    Longitude
    -82.5051838
    Latitude
    40.0451868

    Comparable in this City

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      Granville Land: Build Your Dream

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    • $1,060,000

      Corner Lot Near Columbus, Ohio

      Corner lot, 20 minutes from Columbus and near I-70.
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      Granville, OH Land For Sale

      Land available in Licking County, Granville, Ohio.
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    Similar Nearby for Sale

    • $550,000
      5.15 Acres

      Granville Land with Sunset Views

      5+ acre lot in Glyn Carin Stables neighborhood.
      135 Glyn Carin Ln, Granville, OH 43023
      View Details
    • New
      $375,000
      3.61 Acres

      Granville Land: Build Your Dream

      Two lots in Granville School District, ideal for custom homes.
      1862 Hallie Ln, Granville, OH 43023
      View Details
    • $300,000
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      Granville Buildable Homesite Opportunity

      Rare 2-acre homesite near Granville Village with utilities available.
      201 Olde Park W, Granville, OH 43023
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    • $448,000
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      Granville Land for Custom Home

      7.45 acre homesite in Granville Village School District.
      3343 Hayes Rd, Granville, OH 43023
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    • $1,060,000

      Corner Lot Near Columbus, Ohio

      Corner lot, 20 minutes from Columbus and near I-70.
      5287 Outville Rd, Granville, OH 43023
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    • $409,900

      Granville, OH Land For Sale

      Land available in Licking County, Granville, Ohio.
      2751 Silver St, Granville, OH 43023
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    Similar Nearby for Lease

    • Contact for pricing

      Land Available For Lease

      Land available for lease at 1310 Columbus Rd SW, Granville, OH.
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      Commercial Development Land Opportunity

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      11,360 SF

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    2984 Canyon Rd
    Granville, OH 43023
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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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