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    4055 Jackpot Rd Grove City, OH 43123-9739
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    Property profile & analytics

    4055 Jackpot Rd, Grove City, OH 43123-9739

    View on Map
    • Motels
    • 16,128 SF
    • 2.41 lot acres
    Off-Market
    Property ID
    US66-2141450
    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
    $1,360,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • YNJ MANAGEMENT / Landscaping / General Contractor
    • Red Roof Inn Columbus - Grove City / Hotel & Motel

    Property Details for 4055 Jackpot Rd

    Year built
    1986
    Construction
    WOOD
    Lot size
    2.41 lot acres
    Zone code
    4055
    Property type
    Motels
    APN
    040-006396
    APU
    40006396

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 2, 2025 — Dhanlaxmi LLC — Deed · related $230k · State Bank Of Texas
    Jun 14, 2004 $2,200,000 Dhanlaxmi LLC Kennedy,donald R Tr Grant Deed $2.2M · Fahey Banking Co
    — — Dhanlaxmi LLC — Deed Of Trust · related $3.1M · Commercial Savings Bank
    — — Dhanlaxmi LLC — Deed Of Trust · related $50k · Fahey Banking Co
    — — Dhanlaxmi LLC — Deed Of Trust · related $250k · Fahey Banking Co

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,630,000
      6.5%
      $1,505,000
      7%
      $1,395,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $917,000
      Market price range: $184k - $983k

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $1,905,000
      Current use
      RETAIL STORES
      $2,015,000
      Change: +6% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Grove City
    County
    Franklin
    State
    Ohio
    Longitude
    -83.0471
    Latitude
    39.88
    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
    $92,295
    $251,020
    $977,730
    $1,228,750
    -
    $717,200
    $2,793,500
    $3,510,700

    Comparable in this City

    • Value Estimation
      $1,180,000
      20,520 SF

      4026 Jackpot Rd

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      4026 Jackpot Rd, Grove City, OH 43123-9700
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    • Value Estimation
      $925,000
      16,623 SF

      4029 Marlane Dr

      MOTEL
      4029 Marlane Dr, Grove City, OH 43123-9742
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    • Value Estimation
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      15,749 SF

      1900 Stringtown Rd

      MOTEL
      1900 Stringtown Rd, Grove City, OH 43123-2922
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    • Value Estimation
      $2,220,000
      40,992 SF

      4197 Marlane Dr

      MOTEL
      4197 Marlane Dr, Grove City, OH 43123-2937
      View Details
    • Value Estimation
      $2,320,000
      33,744 SF

      3962 Jackpot Rd

      MOTEL
      3962 Jackpot Rd, Grove City, OH 43123-8636
      View Details
    • Value Estimation
      $1,765,000
      34,888 SF

      3131 Broadway

      MOTEL
      3131 Broadway, Urbancrest, OH 43123-1400
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Urbancrest Office/Warehouse Unit For Sale

      19,360 SF office/warehouse unit with superior loading capabilities.
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      View Details
    • 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
    • $355,000
      1,920 SF

      Grove City Duplex For Sale

      Single-story duplex with attached garages, currently fully rented.
      3216-3218 Independence St, Grove City, OH 43123
      View Details
    • $375,000
      2,828 SF

      Grove City Duplex For Sale

      Remodeled duplex with long-term tenants and updated features.
      3210-3212 Independence St, Grove City, OH 43123
      View Details
    • $649,900
      87,120 SF

      Industrial Land Parcel with Highway Visibility

      Industrial land with prominent I-71 visibility and utilities available at the street for a new build.
      6200-6210 Seeds Rd, Grove City, OH 43123
      View Details
    • New
      $355,000
      0.19 Acres

      Grove City Duplex For Sale

      Single-story duplex in Grove City, each unit rented for $1,175.
      3216-3218 Independence St, Grove City, OH 43123
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Modern Office Space For Lease

      Bright office space available for lease.
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      52,922 SF

      Grove City Industrial Space Available

      Industrial property in Grove City with convenient transportation access.
      3515 Urbancrest Industrial Dr, Urbancrest, OH 43123
      View Details
    • Contact for pricing
      409,654 SF

      Spacious Warehouse in Grove City

      Large industrial warehouse space available for lease in Grove City.
      3400 Southpark Pl, Grove City, OH 43123
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    • Contact for pricing
      18,067 SF

      Grove City Warehouse with Highway Access

      Warehouse space in Grove City with excellent highway access.
      2156-2180 Southwest Blvd, Grove City, OH 43123
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    • Contact for pricing
      2,499 SF

      New Retail Space Available

      Brand new retail suites available within Beulah Park redevelopment.
      3621 Southwest Blvd, Grove City, OH 43123
      View Details
    • Contact for pricing
      144,694 SF

      Class A Logistics Facility

      Class A logistics facility in Southwest Columbus, Ohio.
      1948 Norton Rd, Galloway, OH 43123
      View Details
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    Grove City, OH 43123-9739
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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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