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

    797 Hl N Rd Pickerington, OH 43147-8883

    • Strip malls
    • 25,116 SF
    • 6.26 lot acres
    OFF-MARKET
    Value Estimations
    $525,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1262760
    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

    • The Old Bag of Nails Pub - Pickerington / American Restaurant / Bar

    Property Details for 797 Hl N Rd

    Year built
    2002
    Construction
    STEEL FRAME
    Lot size
    6.26 lot acres
    Property size
    25,116 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    041-02484.52
    APU
    410248452

    Description

    This exceptional 5,026 square foot retail space, located at 797-841 Hill Road in Fairfield County, presents a unique investment opportunity. Built in 2000, this single-story building sits on a generous 6.25-acre lot and is zoned C2, offering significant flexibility for a variety of commercial uses. Previously configured as a turnkey urgent care facility, the space boasts a well-designed layout including a check-in lobby, eight exam rooms, an X-ray room, a lab, a common administrative area, and three bathrooms. This ready-to-occupy space eliminates the need for extensive renovations, saving both time and money. The property benefits from a high-traffic location, with excellent visibility and access from Hill Road (45,264 vehicles per day) and Tussing Road (15,091 vehicles per day), ensuring substantial exposure to potential customers. The property's APN is 0410248452. This is an ideal location for a business seeking high visibility and convenient access in a thriving commercial area. The single building offers a unique opportunity for a business to establish a strong presence in a high-traffic location. The property's size and zoning provide ample room for expansion or customization to suit specific business needs. Don't miss this chance to secure a prime retail space in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $525,000

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $655,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Pickerington
    County
    Fairfield
    State
    Ohio
    Longitude
    -82.7729
    Latitude
    39.9035
    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
    $152,066
    $499,130
    $773,390
    $1,272,520
    -
    $1,426,080
    $2,209,680
    $3,635,760

    Comparable in this City

    • Value Estimation
      $685,000
      63,969 SF

      1111 Hl N Rd

      SHOPPING CENTER, STRIP CENTER • 63,969 SF
      1111 Hl N Rd, Pickerington, OH 43147-8887
      View Details
    • Value Estimation
      $430,000
      12,065 SF

      10710 Blacklick Eastern Rd

      SHOPPING CENTER, STRIP CENTER • 12,065 SF
      10710 Blacklick Eastern Rd, Pickerington, OH 43147-9264
      View Details
    • Value Estimation
      $180,000
      21,956 SF

      8220 Refugee Rd

      SHOPPING CENTER, STRIP CENTER • 21,956 SF
      8220 Refugee Rd, Pickerington, OH 43147-3000
      View Details
    • Value Estimation
      $400,000
      11,608 SF

      8581 Refugee Rd

      SHOPPING CENTER, STRIP CENTER • 11,608 SF
      8581 Refugee Rd, Pickerington, OH 43147-9639
      View Details
    • Value Estimation by Request
      40,987 SF

      380-556 Hill Rd

      Neighborhood centers • 40,987 SF
      380-556 Hill Rd, Pickerington, OH 43147
      View Details
    • Value Estimation by Request
      21,514 SF

      10501 Blacklick-Eastern Rd

      Neighborhood centers • 21,514 SF
      10501 Blacklick-Eastern Rd, Pickerington, OH 43147
      View Details

    Similar Nearby for Sale

    • $2,300,000
      5,772 SF

      Pickerington Automotive Services Building For Sale

      5,772 SF automotive services building with new ten-year lease.
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    • $2,329,000
      1.27 Acres

      Blacklick-Eastern Rd

      Retail properties • 1.27 Acres
      0 Blacklick-Eastern Rd, Pickerington, OH 43147
      View Details
    • Contact for pricing
      2,080 SF

      Downtown Pickerington Office/Retail Space

      Two-story office/retail space in Downtown Pickerington with classic finishes.
      21 W Columbus St, Pickerington, OH 43147
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    • $199,000

      Pickerington Land: Build Your Dream Home

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      Prime Pickerington Land - Lot 185

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      Pickerington Land: Build Your Dream Home

      Over half-acre lot in Violet Meadows. Residential zoning.
      0 Optimara Dr. - Lot 141 Dr, Pickerington, OH 43147
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    Similar Nearby for Lease

    • $3,850 /Mo
      2,800 SF

      Retail Space in Shopping Center

      Retail space for lease in a well-managed shopping center.
      7851 Refugee Rd, Pickerington, OH 43147
      View Details
    • Contact for pricing
      2,379 SF

      Retail Opportunity in Growing Area

      Retail spaces available in a high-growth mixed-use development.
      8865 Diley Rd NW, Pickerington, OH 43147
      View Details
    • Contact for pricing
      1,873 SF

      Retail Space in Hill Road Plaza

      Retail space for rent in high-visibility shopping center.
      1111-1221 Hill Rd, Pickerington, OH 43147
      View Details
    • Contact for pricing
      1,003 SF

      Retail Space Available For Lease

      Retail units for lease in well-maintained shopping center.
      380-556 Hill Rd N, Pickerington, OH 43147
      View Details
    • Contact for pricing
      2,800 SF

      Pickerington Office Space - Drive-Thru Potential

      Prime Office Space, 2800 sq ft, High Visibility
      990 Old Diley Rd, Pickerington, OH 43147
      View Details
    • Contact for pricing
      12,685 SF

      Restaurant Opportunity in Pickerington Retail

      Second generation restaurant space in a high-traffic retail corridor.
      10701 Blacklick Eastern Rd, Pickerington, OH 43147
      View Details
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    797 Hl N Rd
    Pickerington, OH 43147-8883
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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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