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    3440 Powell Rd Lewis Center, OH 43035

    • Commercial real estate
    For Sale
    View listing
    $398,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1537608
    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 real estate

    Property Details for 3440 Powell Rd

    Property type
    Commercial real estate

    Description

    This exceptional 151,153.2 square foot land parcel presents a unique opportunity in Lewis Center, Ohio. Located at 3440 E Powell Road, zip code 43035, this property offers a secluded yet convenient location, just minutes from major freeways and shopping amenities. Previously occupied by a house demolished around 2016, the site is believed to have existing water and sewer infrastructure at the former home's location. The seller is covering the sewer cap fee, significantly reducing buyer costs. Electric service is also available at the old home site, while natural gas is accessible at the road's end. Currently zoned FR1, this lot is ideally suited for new construction. Buyers will appreciate the peaceful, private setting while enjoying easy access to urban conveniences. The expansive lot size provides ample space for a substantial home and potential landscaping. This is a rare chance to acquire a build-ready lot in a desirable location

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Lewis Center
    County
    Delaware
    State
    Ohio
    Longitude
    -82.9633248
    Latitude
    40.1522142

    Comparable in this City

    • $275,000
      58.37 Acres

      Columbus Pike Commercial Land

      58 Acres, High-Traffic Location, Ohio
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      11.80 Acres

      Prime Lewis Center Commercial Land

      11.8 Acres, Outparcel Options Available
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    • $3,995,000

      Redevelopment Site on U.S. 23

      1.97 acre redevelopment site with high traffic volume.
      39 Green Meadows Dr S, Lewis Center, OH 43035
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    • $1,994,200

      Commercial Corner Lot on Columbus

      3.068 acre commercial corner lot, ideal for various businesses.
      6519 Columbus Pike, Lewis Center, OH 43035
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    • $3,995,000
      1.97 Acres

      Lewis Center Retail Land - $3.995M

      1.97-acre prime retail redevelopment site in Ohio.
      39 Green Meadows Dr, Lewis Center, OH 43035
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    • $190,000

      Lewis Center Residential Lot

      Prime Cul-de-sac Lot, Build Your Dream Home
      3317 Briarwood Ln, Lewis Center, OH 43035
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      11.80 Acres

      Prime Lewis Center Commercial Land

      11.8 Acres, Outparcel Options Available
      23 And Orangepoint Dr, Lewis Center, OH 43035
      View Details
    • $275,000
      58.37 Acres

      Columbus Pike Commercial Land

      58 Acres, High-Traffic Location, Ohio
      6871 Columbus Pike, Lewis Center, OH 43035
      View Details
    • $3,995,000

      Redevelopment Site on U.S. 23

      1.97 acre redevelopment site with high traffic volume.
      39 Green Meadows Dr S, Lewis Center, OH 43035
      View Details
    • $1,994,200

      Commercial Corner Lot on Columbus

      3.068 acre commercial corner lot, ideal for various businesses.
      6519 Columbus Pike, Lewis Center, OH 43035
      View Details
    • $3,995,000
      1.97 Acres

      Lewis Center Retail Land - $3.995M

      1.97-acre prime retail redevelopment site in Ohio.
      39 Green Meadows Dr, Lewis Center, OH 43035
      View Details
    • $190,000

      Lewis Center Residential Lot

      Prime Cul-de-sac Lot, Build Your Dream Home
      3317 Briarwood Ln, Lewis Center, OH 43035
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      BJ's Anchored Pad Sites

      Leaseable pad sites near BJ's with high traffic volume.
      8425 Orange Center Dr, Lewis Center, OH 43035
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      16,837 SF

      Evans Farm Retail Space

      Prime Ohio retail space available
      0 Lewis Ctr Rd & Evans Farm Dr, Lewis Center, OH 43035
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      Land For Rent

      Land available for rent in Lewis Center, Ohio.
      3780 E Powell Rd, Lewis Center, OH 43035
      View Details
    • Contact for pricing

      Land For Rent

      Land available for rent in Lewis Center, Ohio.
      3010 E Powell Rd, Lewis Center, OH 43035
      View Details
    • $204 SF/Yr
      4,770 SF

      Lewis Center Commercial Space

      Flexible Office, Warehouse, & Flex Units
      7500 Green Meadows Dr, Lewis Center, OH 43035
      View Details
    • $5,625 /Mo
      201,970 SF

      Retail Space in Prime Location

      Move-in ready retail space in high-traffic Lewis Center, OH.
      9015 Columbus Pike, Lewis Center, OH 43035
      View Details
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    3440 Powell Rd
    Lewis Center, OH 43035
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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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