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    5138 Walnut Rd Buckeye Lake, OH 43008
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    5138 Walnut Rd Buckeye Lake, OH 43008

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    • Short term rental properties
    • 1,403 SF
    For Sale
    $349,900
    View Listing →
    Buckeye Lake Updated Commercial Home For Sale
    $349,900
    1,403 SF

    Buckeye Lake Updated Commercial Home

    Updated home near Buckeye Lake, currently operating as an Airbnb.

    5138 Walnut Road, Buckeye Lake, OH 43008
    View Listing
    Property ID
    US66-2375392
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Short term rental properties

    Property Details for 5138 Walnut Rd

    Year built
    1935
    Property size
    1,403 SF
    Property type
    Short term rental properties
    Property subtype
    Retail space

    Description

    Updated home on the commercial strip, in the heart of The Village of Buckeye Lake, with a coastal flair. Currently being used as an Airbnb with many bookings for the summer of 2024. 2 bedrooms and bath on the main level. Along with a kitchen, dining room, living room, and bar area. Upper level has 2 sleeping areas, full bath, and entertainment room. Large yard and concrete patio. Shed for storage and lots of parking. Selling fully furnished with dishes and linens. Turn key property. Steps to The Buckeye Lake Brewery/Chef Shack, The Boatyard Tavern and Grill, and The Buckeye Lake Yacht Club. Great investment potential! Close to I-70, Granville, Lancaster, and Zanesville. 30 minutes to downtown Columbus. Sellers are licensed real estate agents in The State of Ohio.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Buckeye Lake
    County
    Licking
    State
    Ohio
    Longitude
    -82.4833826
    Latitude
    39.9310284

    Comparable in this City

    • $300,000

      Buckeye Lake Development Opportunity

      26-acre development site near Buckeye Lake and I-70.
      10810 Hebron Rd, Buckeye Lake, OH 43008
      View Details
    • $8,043,000

      Land Near I-70 Exit

      26-acre commercial land with high visibility near I-70.
      10810 Hebron Rd, Buckeye Lake, OH 43008
      View Details
    • $4,400,000
      7.82 Acres

      Buckeye Lake Multifamily Development Opportunity

      7.82-acre parcel approved for 180 multifamily units.
      Mill Dam Rd, Buckeye Lake, OH 43008
      View Details
    • New
      $55,000
      Pending

      Buckeye Lake Homesite Opportunity

      Desirable corner lot near Buckeye Lake, build your dream home!
      317 Highland Ave, Buckeye Lake, OH 43008
      View Details
    • $12,100,000
      29.28 Acres

      Buckeye Lake Development Opportunity

      21.2-acre multifamily parcel in a growing lake community.
      165 Worth Dr, Buckeye Lake, OH 43008
      View Details
    • $67,900
      0.12 Acres

      Buckeye Lake Land Opportunity

      Vacant lot near Buckeye Lake with utilities available.
      183 Park St, Buckeye Lake, OH 43008
      View Details

    Similar Nearby for Sale

    • $300,000

      Buckeye Lake Development Opportunity

      26-acre development site near Buckeye Lake and I-70.
      10810 Hebron Rd, Buckeye Lake, OH 43008
      View Details
    • $8,043,000

      Land Near I-70 Exit

      26-acre commercial land with high visibility near I-70.
      10810 Hebron Rd, Buckeye Lake, OH 43008
      View Details
    • $4,400,000
      7.82 Acres

      Buckeye Lake Multifamily Development Opportunity

      7.82-acre parcel approved for 180 multifamily units.
      Mill Dam Rd, Buckeye Lake, OH 43008
      View Details
    • New
      $55,000
      Pending

      Buckeye Lake Homesite Opportunity

      Desirable corner lot near Buckeye Lake, build your dream home!
      317 Highland Ave, Buckeye Lake, OH 43008
      View Details
    • $12,100,000
      29.28 Acres

      Buckeye Lake Development Opportunity

      21.2-acre multifamily parcel in a growing lake community.
      165 Worth Dr, Buckeye Lake, OH 43008
      View Details
    • $67,900
      0.12 Acres

      Buckeye Lake Land Opportunity

      Vacant lot near Buckeye Lake with utilities available.
      183 Park St, Buckeye Lake, OH 43008
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      2,292 SF

      Retail Space with Ample Parking

      Retail space featuring a flexible layout and high visibility.
      4675 Walnut Rd, Buckeye Lake, OH 43008
      View Details
    • $13 SF/Yr

      Retail Spaces in Vibrant Plaza

      Two retail units available in high-traffic Buckeye Lake plaza.
      4675 Walnut Rd, Buckeye Lake, OH 43008
      View Details
    View Listing
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    Buckeye Lake, OH 43008
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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.

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