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

    4109 Pkwy Ctr Dr Grove City, OH 43123-8095

    • Hotels
    • 110,694 SF
    • 2.64 lot acres
    OFF-MARKET
    Value Estimations
    $8,110,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1841629
    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

    • Drury Inn & Suites Columbus Grove City / Hotel

    Property Details for 4109 Pkwy Ctr Dr

    Year built
    2005
    Lot size
    2.64 lot acres
    Property size
    110,694 SF
    Property type
    Hotels
    APN
    040-012310
    APU
    40012310

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $11,175,000
      6.5%
      $10,315,000
      7%
      $9,575,000

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $13,060,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Grove City
    County
    Franklin
    State
    Ohio
    Longitude
    -83.0474
    Latitude
    39.8774
    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
    $439,943
    $239,120
    $5,617,960
    $5,857,080
    -
    $683,200
    $16,051,300
    $16,734,500

    Comparable in this City

    • Value Estimation
      $2,220,000
      25,525 SF

      4017 Jackpot Rd

      HOTEL • 25,525 SF
      4017 Jackpot Rd, Grove City, OH 43123-9739
      View Details
    • Value Estimation
      $3,715,000
      51,369 SF

      3928 Jackpot Rd

      HOTEL • 51,369 SF
      3928 Jackpot Rd, Grove City, OH 43123-8636
      View Details
    • Value Estimation
      $2,120,000
      38,672 SF

      1849 Stringtown Rd

      HOTEL • 38,672 SF
      1849 Stringtown Rd, Grove City, OH 43123-3956
      View Details
    • Value Estimation by Request
      0.08 Acres

      Harrisburg Pike

      HOTEL • 0.08 Acres
      Harrisburg Pike, Grove City, OH 43123
      View Details
    • Value Estimation
      $1,665,000
      24,024 SF

      1800 Stringtown Rd

      HOTEL • 24,024 SF
      1800 Stringtown Rd, Grove City, OH 43123-9049
      View Details
    • Value Estimation
      $3,865,000
      53,686 SF

      Buckey Pl

      HOTEL • 53,686 SF
      Buckey Pl, Grove City, OH 43123
      View Details

    Similar Nearby for Sale

    • $1,375,000
      2.50 Acres

      Hoover Road Development Site

      Grove City, OH: 2.5-acre prime land
      0 Hoover Rd, Grove City, OH 43123
      View Details
    • $600,000
      1.50 Acres

      Grove City Commercial Land - 1.5 Acres

      Prime 1.5-acre commercial lot in Grove City, Ohio.
      6205 Hoover Rd, Grove City, OH 43123
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    • $229,900
      1,098 SF

      Charming All-Brick Condo

      Well-maintained 2-bedroom, 2-bathroom condo with modern comforts and prime location.
      5810 Willow Lake Dr, Grove City, OH 43123
      View Details
    • $2,846,000
      3,027 SF

      New Freddy's Build-to-Suit Restaurant

      New 20-year NNN lease Freddy's restaurant for sale.
      4264 Buckeye Pkwy, Grove City, OH 43123
      View Details
    • $2,750,000
      11,970 SF

      16,000 SF Office Building

      Office building with visibility and easy access to amenities.
      1929 Gateway Cir, 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

    Similar Nearby for Lease

    • 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
    • $8 SF/Yr
      13,626 SF

      Warehouse with Crane and Office

      13,626 SF warehouse with office, crane, and ample parking.
      6150 Enterprise Pkwy, Grove City, OH 43123
      View Details
    • Contact for pricing
      242,560 SF

      Distribution Warehouse in Grove City

      Class-A distribution warehouse with cross-dock loading near Columbus.
      3500 Centerpoint Dr, Grove City, OH 43123
      View Details
    • $15 SF/Yr
      4,284 SF

      Grove City Medical/Office Space

      Desirable location, ideal for medical or office use.
      3989 Jackpot Rd, Grove City, OH 43123
      View Details
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    Grove City, OH 43123-8095
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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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