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    5547 Red Bank Rd Galena, OH 43021

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    5547 Red Bank Rd Galena, OH 43021

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    • Commercial real estate
    • 2.35 lot acres
    Off-Market
    Property ID
    US66-2678720
    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

    • Commercial real estate

    Property Details for 5547 Red Bank Rd

    Lot size
    2.35 lot acres
    Property type
    Commercial real estate
    APN
    317-411-01-024-005

    Description

    This exceptional 2.35-acre residential lot in desirable Galena, Ohio, presents a unique opportunity to build your dream home. Located at 5547 Red Bank Road, this densely wooded property boasts scenic ravine views and seasonal water views of Hoover Reservoir across the street. Enjoy the convenience of proximity to the Reservoir, its Sailing Club, and nearby communities like Westerville, New Albany, and Sunbury/Galena, as well as the new Intel Complex. The property is served by Delco Water (buyer responsible for tap fees) and requires a septic system for sanitary needs. Big Walnut Schools serve this area. Priced at $359,900, this lot offers a remarkable value at $156,478 per acre. A leading Central Ohio custom builder has exclusive building rights for this lot and may consider combining this lot with two others (pricing to be determined). This is an ideal location for those seeking a private yet convenient setting to build their dream home. The property's APN is 317-411-01-024-005. Enjoy recreational opportunities such as boating, fishing, frisbee golf, and hiking at the nearby Hoover Reservoir.

    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
    Galena
    County
    Delaware
    State
    Ohio
    Longitude
    -82.8662473
    Latitude
    40.1596693

    Comparable in this City

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      5.9 Acre Building Lot

      5.9 acre building lot ready for a new home.
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      88 SF

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      30 acre parcel in a sought after development corridor.
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    Similar Nearby for Sale

    • Contact for pricing

      Mixed-Use Development Opportunity

      10.66-acre mixed-use development site along US-36/37 corridor.
      & US-36/37 Fourwinds Dr, Sunbury, OH 43021
      View Details
    • $475,000
      5.90 Acres

      5.9 Acre Building Lot

      Ready for a new home, near Intel site.
      unit Tract 6 Woodtown Rd, Galena, OH 43021
      View Details
    • $475,000
      5.90 Acres

      5.9 Acre Building Lot

      5.9 acre building lot ready for a new home.
      unit Tract 7 Woodtown Rd, Galena, OH 43021
      View Details
    • Contact for pricing
      88 SF

      88 Acres Developable Industrial Land

      88 acres of developable land with industrial zoning.
      10826 Woodtown Rd, Galena, OH 43021
      View Details
    • New
      $1,395,000
      13.95 Acres

      Scenic Land Near Alum Creek

      13.95 acres of land near Alum Creek State Park.
      1476 Africa Rd, Galena, OH 43021
      View Details
    • $2,499,999
      30.00 Acres

      30 Acres in Galena, Ohio

      30 acre parcel in a sought after development corridor.
      5717 Harlem Rd, Galena, OH 43021
      View Details
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    5547 Red Bank Rd
    Galena, OH 43021
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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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