Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    5551 Smaller Rd Johnstown, OH 43031

    • Commercial real estate
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2084960
    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

    • Commercial real estate

    Property Details for 5551 Smaller Rd

    Year built
    1987
    Property type
    Commercial real estate

    Description

    This exceptional 9.13-acre property in Johnstown, Ohio, presents a unique opportunity for residential development. Currently listed at $495,000, this expansive lot boasts 397,702.8 square feet of land, offering ample space for a single, substantial home or the potential for subdivision into two separate building sites. The property features approximately 400 feet of road frontage on Smaller Road, providing excellent accessibility. A picturesque creek meanders through the rear of the property, adding to its natural beauty and tranquility. The land itself is a blend of open areas and wooded sections, creating a serene and private setting. Abundant wildlife, including deer and wild turkey, frequents the property. The seller is finalizing the addition of approximately 4 acres to the existing 5.13 acres, ensuring a total of 9.13 acres at closing. This property is ideally suited for those seeking a spacious, secluded building site in a desirable Ohio location. The property's size and features make it an attractive investment for both individual homebuilders and developers. Schedule a viewing today to experience the potential of this remarkable land parcel. The property is located at 5551 Smaller Road, Johnstown, OH 43031. The property was originally built in 1987.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Johnstown
    County
    Licking
    State
    Ohio
    Longitude
    -82.6439764
    Latitude
    40.1407374

    Comparable in this City

    • $5,000,000

      Prime Johnstown Land Development Opportunity

      Almost 6 acres, Intel area, excellent location.
      13692 Green Chapel Rd, Johnstown, OH 43031
      View Details
    • $490,000

      Land Near Intel Site

      Commercial land near Intel Semiconductor Fabrication site.
      Mink St, Johnstown, OH 43031
      View Details
    • New
      $900,000
      2.24 Acres

      Commercial Land in Johnstown, OH

      2.24 acres in Silicone Heartland area, Johnstown, OH.
      12026 Jug Street Rd, Johnstown, OH 43031
      View Details
    • $2,200,000

      Woodhaven Farm: 34 Acres in Ohio

      Prime Ohio land, development potential.
      11862 Woodhaven Rd, Johnstown, OH 43031
      View Details
    • $75,000

      Johnstown Residential Land Opportunity

      Build Your Dream Home in Johnstown, OH
      0 Ford Ave, Johnstown, OH 43031
      View Details
    • $950,000

      Johnstown, OH Commercial Land

      7.83-acre wooded lot, ideal for commercial development.
      1870 Harrison Rd, Johnstown, OH 43031
      View Details

    Similar Nearby for Sale

    • $5,000,000

      Prime Johnstown Land Development Opportunity

      Almost 6 acres, Intel area, excellent location.
      13692 Green Chapel Rd, Johnstown, OH 43031
      View Details
    • $490,000

      Land Near Intel Site

      Commercial land near Intel Semiconductor Fabrication site.
      Mink St, Johnstown, OH 43031
      View Details
    • New
      $900,000
      2.24 Acres

      Commercial Land in Johnstown, OH

      2.24 acres in Silicone Heartland area, Johnstown, OH.
      12026 Jug Street Rd, Johnstown, OH 43031
      View Details
    • $2,200,000

      Woodhaven Farm: 34 Acres in Ohio

      Prime Ohio land, development potential.
      11862 Woodhaven Rd, Johnstown, OH 43031
      View Details
    • $75,000

      Johnstown Residential Land Opportunity

      Build Your Dream Home in Johnstown, OH
      0 Ford Ave, Johnstown, OH 43031
      View Details
    • $950,000

      Johnstown, OH Commercial Land

      7.83-acre wooded lot, ideal for commercial development.
      1870 Harrison Rd, Johnstown, OH 43031
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Industrial Land in Growing Area

      Land parcel in a rapidly expanding business-friendly community.
      915 W Coshocton St, Johnstown, OH 43031
      View Details
    • $17 SF/Yr
      6,895 SF

      Retail Space on Coshocton Street

      Retail space with high traffic and frontage on Coshocton Street.
      733 West Coshocton St, Johnstown, OH 43031
      View Details
    • $16 SF/Yr
      20,000 SF

      Retail Space in Johnstown Center

      Retail space available in high-traffic Johnstown shopping center.
      659-753 W Coshocton St, Johnstown, OH 43031
      View Details
    • Contact for pricing
      215,280 SF

      New Albany Warehouse Space

      Under construction warehouse space available for lease in New Albany.
      Innovation Campus Way, New Albany, OH 43031
      View Details
    • $14 SF/Yr
      18,279 SF

      Johnstown Retail Center - Prime Space

      High-traffic retail space, ample parking. Flexible lease options.
      659 Coshocton St, Johnstown, OH 43031
      View Details
    • Contact for pricing
      121,680 SF

      New Albany Industrial Space

      Under construction industrial space available for lease in New Albany.
      9490 Innovation Campus Way, New Albany, OH 43031
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    5551 Smaller Rd
    Johnstown, OH 43031
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.