Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    Broadway Grove City, OH 43123

    • Commercial land
    • 19,132 SF
    • 1.70 lot acres
    For Sale
    View listing
    $850,000
    Last Sale
    Dec 23, 2024
    $1,100,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-4496835
    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

    • Commercial land

    Property Details for Broadway

    Year built
    1996
    Lot size
    1.70 lot acres
    Property size
    19,132 SF
    Property type
    Commercial land
    APN
    040-015109
    APU
    40015109

    Description

    This exceptional 1.68-acre commercial lot in Grove City's desirable submarket presents a unique investment opportunity. Boasting excellent visibility and convenient access from I-270, this property enjoys high traffic counts exceeding 23,000 vehicles daily. Its prime location makes it ideal for a diverse range of commercial developments, including medical facilities, hotels, daycare centers, banks or credit unions, hardware or building materials stores, multifamily housing, or assisted living facilities. The property is identified by APN 040-015109 within Franklin County. This single-tenant site offers flexibility with options for purchase, ground lease, or a built-to-suit development. A significant advantage is the availability of a 100% 15-year tax abatement, substantially reducing initial investment costs and operational expenses. This presents a compelling opportunity for developers seeking a high-traffic location with substantial tax benefits in a thriving commercial area. The property is zoned for commercial use and is ready for immediate development. Serious inquiries are encouraged to explore this exceptional opportunity further.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,100,000
      ML approach
      $1,100,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $741,000
      Market price range: $741k - $3.70M
      AI Estimate
      $776,000
      Market price range: $776k - $2.90M

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

    Location Insight

    • Map
    • Local Demand
    City
    Grove City
    County
    Franklin
    State
    Ohio
    Longitude
    -83.0826
    Latitude
    39.8943
    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
    $15,798
    $210,320
    $0.00
    $210,320
    -
    $600,900
    $0.00
    $600,900

    Comparable in this City

    • Value Estimation by Request
      0.09 Acres

      4th Ave

      VACANT COMMERCIAL LAND • 0.09 Acres
      4th Ave, Grove City, OH 43123
      View Details
    • Value Estimation by Request
      0.18 Acres

      Broadway

      VACANT COMMERCIAL LAND • 0.18 Acres
      Broadway, Grove City, OH 43123
      View Details
    • Value Estimation by Request
      0.05 Acres

      Broadway

      VACANT COMMERCIAL LAND • 0.05 Acres
      Broadway, Grove City, OH 43123
      View Details
    • Value Estimation by Request
      0.18 Acres

      Broadway

      VACANT COMMERCIAL LAND • 0.18 Acres
      Broadway, Grove City, OH 43123
      View Details
    • Value Estimation by Request
      0.11 Acres

      Seeds Rd

      VACANT COMMERCIAL LAND • 0.11 Acres
      Seeds Rd, Grove City, OH 43123
      View Details
    • Value Estimation by Request
      0.03 Acres

      Grant Ave

      VACANT COMMERCIAL LAND • 0.03 Acres
      Grant Ave, Grove City, OH 43123
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Industrial Development Site Available

      61+ acre industrial development site in Grove City, Ohio.
      1335 Thrailkill Rd, Grove City, OH 43123
      View Details
    • Contact for pricing
      2,552 SF

      Grove City Retail Ready Lot

      0.6 acre retail lot in high-traffic Grove City location.
      3586 Broadway, Grove City, OH 43123
      View Details
    • $995,000
      2,552 SF

      Prime Retail Lot in Grove

      Shovel-ready 0.6 acre retail lot at busy intersection.
      3586 Broadway, Grove City, OH 43123
      View Details
    • $70,000

      Land with Development Opportunities

      Land with flexible zoning and build to suit options.
      3491 Farm Bank Way, Grove City, OH 43123
      View Details
    • $600,000

      Land Adjacent to CVS Pharmacy

      Land available near London Groveport Road and Hoover Road.
      6205 Hoover Rd, Grove City, OH 43123
      View Details
    • $690,000

      Grove City Corner Commercial Lot

      Prime corner lot with high visibility and flexible C-2 zoning.
      Hoover Rd, Grove City, OH 43123
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Prime Commercial Land For Lease

      2.68 acres of commercial land with high traffic exposure.
      3131 Broadway, Grove City, OH 43123
      View Details
    • Contact for pricing

      Commercial Pad Site For Lease

      Commercial land available for ground lease in Grove City, Ohio.
      1548 Stringtown Rd, Grove City, OH 43123
      View Details
    • Contact for pricing

      Land For Rent Grove City

      Land available for rent in Grove City, Ohio.
      4046 Knapp Dr, Grove City, OH 43123
      View Details
    • Contact for pricing
      108,000 SF

      Lewis Center Industrial Space

      Modern warehouse/manufacturing space available
      2882 Lewis Centre Way, Urbancrest, OH 43123
      View Details
    • Contact for pricing
      63,041 SF

      Industrial Space in Grove City

      63,041 square foot industrial space for lease.
      3515 Urbancrest Industrial Dr, Grove City, OH 43123
      View Details
    • Contact for pricing
      145,657 SF

      Industrial Space in Grove City

      Available industrial space totaling 268,905 SF in Grove City.
      5701 N Meadows Dr, Grove City, OH 43123
      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.
    Broadway
    Grove City, OH 43123
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.