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    Property profile & analytics

    44 Commerce Pkwy West Jefferson, OH 43162

    • Showrooms
    • 835,355 SF
    • 33.23 lot acres
    For Sale
    View listing
    Last Sale
    Aug 03, 2022
    $63,333,091
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-5961866
    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

    • Showrooms

    Property Details for 44 Commerce Pkwy

    Year built
    2021
    Lot size
    33.23 lot acres
    Property size
    835,355 SF
    Property type
    Showrooms
    APN
    12-00001.001
    APU
    1200001001

    Description

    This exceptional Class A property, located at 44 Commerce Pkwy in West Jefferson, Ohio, offers an expansive 1,090,000 square feet of combined office and industrial space, currently available for sale. The property boasts a highly desirable location in Madison County, with convenient access to major transportation routes. The building features 2,825 square feet of existing office space, supplemented by two remote restroom pods, providing ample room for administrative functions. The warehouse component is equally impressive, showcasing a substantial 40-foot clear ceiling height, ideal for various industrial operations. A total of 190 dock-high doors are available, with 110 equipped with 40,000-pound levelers, ensuring efficient loading and unloading. Four additional drive-in doors (12' x 14') further enhance operational flexibility. The layout is optimized with 56'W x 50'D column spacing and 56'W x 60'D speed bays. Ample parking is provided with approximately 252 trailer parking spaces (with potential for 68 more) and approximately 209 car parking stalls. The building is equipped with ESFR sprinklers for enhanced fire safety and benefits from reliable power supplied by AEP, featuring two 2,000 amp services, 277/480 volt, 3-phase power. Modern 36,000 lumen lighting fixtures ensure a well-lit and productive work environment. The property is divisible, offering flexibility to suit a range of business needs. This is a rare opportunity to acquire a substantial, high-quality industrial/office complex in a prime Ohio location. The property's size, features, and location make it an exceptional investment opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      Off market

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $66,527,000
      Market price range: $42.3M - $133M
      AI Estimate
      $39,186,000
      Market price range: $21.4M - $80.6M

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

    Location Insight

    • Map
    • Local Demand
    City
    West Jefferson
    County
    Madison
    State
    Ohio
    Longitude
    -83.3521
    Latitude
    39.9436
    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
    $31,708
    $634,930
    $11,932,570
    $12,567,500
    -
    $1,814,090
    $34,093,060
    $35,907,150

    Comparable in this City

    • Value Estimation
      $44,190,000
      1,200,990 SF

      1040 Enterprise Pkwy

      SHOW ROOM, WAREHOUSE • 1,200,990 SF
      1040 Enterprise Pkwy, West Jefferson, OH 43162-9424
      View Details
    • Value Estimation by Request
      3,000 SF

      2685 Pln City Georgesville NE Rd

      SHOW ROOM, WAREHOUSE • 3,000 SF
      2685 Pln City Georgesville NE Rd, West Jefferson, OH 43162-9642
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    • Value Estimation
      $26,545,000
      747,000 SF

      1050 Gtwy Park Dr

      SHOW ROOM, WAREHOUSE • 747,000 SF
      1050 Gtwy Park Dr, West Jefferson, OH 43162
      View Details
    • Value Estimation
      $45,505,000
      1,294,720 SF

      15 Commerce Pkwy, Unit 8

      SHOW ROOM, WAREHOUSE • 1,294,720 SF
      15 Commerce Pkwy, West Jefferson, OH 43162-9422
      View Details
    • Value Estimation
      $38,625,000
      543,750 SF

      6400 State Rte 29

      SHOW ROOM, WAREHOUSE • 543,750 SF
      6400 State Rte 29, West Jefferson, OH 43162-9746
      View Details
    • Value Estimation
      $31,180,000
      842,920 SF

      220 Park W Dr

      SHOW ROOM, WAREHOUSE • 842,920 SF
      220 Park W Dr, West Jefferson, OH 43162-0055
      View Details

    Similar Nearby for Sale

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      47.66 Acres, Prime Ohio Location
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    Similar Nearby for Lease

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      Retail Space on Main Street

      Retail spaces available in West Jefferson with high visibility.
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      Industrial Warehouse Space Available

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      789,630 SF

      West Jefferson Industrial Build-to-Suit

      47-acre pad-ready site, build-to-suit opportunity.
      46 Commerce Pkwy, West Jefferson, OH 43162
      View Details
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      1,841,747 SF

      West Jefferson Logistics Center Space

      Large distribution center space near major transportation routes.
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      Modern Distribution Warehouse in West Jefferson

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      Prime Industrial Land for Lease

      Industrial land with tax abatement and highway access available for lease.
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      View Details
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    West Jefferson, OH 43162
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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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