Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    81 Us Hwy 40th SW London, OH 43140-8898
    Property profile & analytics

    81 Us Hwy 40th SW, London, OH 43140-8898

    View on Map
    • Auto shops
    • 9,800 SF
    • 10.69 lot acres
    Off-Market
    Last Sale Feb 11, 2026
    $500,000
    Property ID
    US66-2267055
    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
    $505,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Auto shops

    Property Details for 81 Us Hwy 40th SW

    Year built
    1970
    Lot size
    10.69 lot acres
    Property type
    Auto shops
    APN
    05-00376.000
    APU
    500376000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $512,000
      Market price range: $408k - $1.22M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $830,000
      Current use
      RESTAURANT
      $795,000
      Change: -5% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $735,000
      Change: -12% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    London
    County
    Madison
    State
    Ohio
    Longitude
    -83.4528
    Latitude
    39.9349
    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
    $7,068
    $41,450
    $102,880
    $144,330
    -
    $118,420
    $293,930
    $412,350

    Comparable in this City

    • Value Estimation by Request
      1,080 SF

      151 Main St

      AUTO REPAIR, GARAGE
      151 Main St, London, OH 43140-1440
      View Details
    • Value Estimation by Request
      1,200 SF

      114 Logan Ave

      AUTO REPAIR, GARAGE
      114 Logan Ave, London, OH 43140-1449
      View Details
    • Value Estimation by Request
      2,800 SF

      157 Main St

      AUTO REPAIR, GARAGE
      157 Main St, London, OH 43140-1440
      View Details
    • Value Estimation by Request
      2,400 SF

      132 Main St

      AUTO REPAIR, GARAGE
      132 Main St, London, OH 43140-1439
      View Details
    • Value Estimation by Request
      1,880 SF

      126 High St

      AUTO REPAIR, GARAGE
      126 High St, London, OH 43140-1307
      View Details
    • Value Estimation by Request
      3,648 SF

      51 High St

      AUTO REPAIR, GARAGE
      51 High St, London, OH 43140-1247
      View Details

    Similar Nearby for Sale

    • $950,000
      0.06 Acres

      London, OH Standalone Building

      Renovated building near I-70 & US 42, suitable for retail.
      1340 Us Rt 42, London, OH 43140
      View Details
    • Contact for pricing

      London Mixed-Use Property For Sale

      Mixed-use property with retail and residential units in London, OH.
      50 S Main St, London, OH 43140
      View Details
    • $789,900
      0.04 Acres

      London, OH Mixed-Use Property

      Mixed-use property with retail and residential units in London, OH.
      50 S Main St, London, OH 43140
      View Details
    • Contact for pricing
      6,524 SF

      Versatile Building with Large Lot

      6,524 SF building with multi-use potential and additional parking.
      249 W High St, London, OH 43140
      View Details
    • Contact for pricing
      3,089 SF

      Downtown London Retail Storefront

      Commercial retail storefront in revitalizing downtown London.
      24 S Main St, London, OH 43140
      View Details
    • $789,900
      7,372 SF

      London, OH Mixed-Use Property

      Mixed-use property with retail and residential units in London, OH.
      50 South Main St, London, OH 43140
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,666 SF

      Warehouse and Retail Spaces Available

      Warehouse and retail spaces for lease in London, OH.
      235 Lafayette St, London, OH 43140
      View Details
    • Contact for pricing

      Retail and Warehouse Space Available

      Retail and warehouse space for rent near downtown London, OH.
      231 Lafayette St, London, OH 43140
      View Details
    • Contact for pricing
      460 SF

      Warehouse Space For Lease

      2,666 SF warehouse space available for lease.
      231-235 Lafayette St, London, OH 43140
      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.
    81 Us Hwy 40th SW
    London, OH 43140-8898
    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

    Thank You for Inquiry
    81 Us Hwy 40th SW, London, OH, 43140
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!