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    Property profile & analytics

    8659 Columbus Pike Lewis Center, OH 43035-9699

    • Grocery and convenience stores
    • 202,966 SF
    • 16.83 lot acres
    OFF-MARKET
    Value Estimations
    $10,455,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-4507679
    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

    • Quest Diagnostics Walmart Store #2725 Drive-Thru / Diagnostic Center / Medical Laboratory
    • KeyMe Locksmiths / Locksmith / (Bike/Boat/Book/etc) Store
    • Maria J. Fragoulis, OD / Physician
    • Ahmed K. Agha, RPh / Pharmacy
    • Walmart Vision & Glasses / Ophthalmologist / (Bike/Boat/Book/etc) Store

    Property Details for 8659 Columbus Pike

    Year built
    1999
    Lot size
    16.83 lot acres
    Property size
    202,966 SF
    Property type
    Grocery and convenience stores
    APN
    318-324-12-007-000
    APU
    31832412007000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $13,150,000
      6.5%
      $12,140,000
      7%
      $11,270,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $11,798,000
      Market price range: $11.8M - $41.7M
      AI Estimate
      $7,423,000
      Market price range: $3.74M - $27.1M

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

    Location Insight

    • Map
    • Local Demand
    City
    Lewis Center
    County
    Delaware
    State
    Ohio
    Longitude
    -83.0166
    Latitude
    40.1652
    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
    $345,809
    $1,130,990
    $3,367,840
    $4,498,830
    -
    $3,231,400
    $9,622,400
    $12,853,800

    Comparable in this City

    • Value Estimation by Request
      7,670 SF

      9028 Columbus Pike

      CONVENIENCE STORE • 7,670 SF
      9028 Columbus Pike, Lewis Center, OH 43035-9115
      View Details
    • Value Estimation
      $995,000
      16,857 SF

      8156 Orange Ctr Dr

      GROCERY, SUPERMARKET • 16,857 SF
      8156 Orange Ctr Dr, Lewis Center, OH 43035-9727
      View Details
    • Value Estimation
      $1,115,000
      14,278 SF

      8258 Orange Ctr Dr

      GROCERY, SUPERMARKET • 14,278 SF
      8258 Orange Ctr Dr, Lewis Center, OH 43035-9456
      View Details
    • Value Estimation
      $1,470,000
      7,694 SF

      8940 Grn Mdws Dr

      CONVENIENCE STORE • 7,694 SF
      8940 Grn Mdws Dr, Lewis Center, OH 43035-9703
      View Details
    • Value Estimation
      $6,430,000
      120,127 SF

      6417 Columbus Pike

      GROCERY, SUPERMARKET • 120,127 SF
      6417 Columbus Pike, Lewis Center, OH 43035-9719
      View Details
    • Value Estimation by Request
      3,530 SF

      5619 Columbus Pike

      CONVENIENCE STORE • 3,530 SF
      5619 Columbus Pike, Lewis Center, OH 43035-9004
      View Details

    Similar Nearby for Sale

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      Established Dry Cleaning Business Opportunity

      Turnkey dry cleaning business for sale in a busy location.
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    • $2,582,835

      Ninja Xpress Car Wash

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      5,167 SF

      New Retail Property For Sale

      New construction retail property with long-term lease and drive-thru.
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      84,824 SF

      Lewis Center Warehouse/Production Facility

      84,000 SF warehouse/production facility with office space available for sale.
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      12,432 SF

      Versatile Industrial Building with Office Space

      4,137 SF building on 1.53 acres with functional layout.
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    Similar Nearby for Lease

    • $5,625 /Mo
      201,970 SF

      Retail Space in Prime Location

      Move-in ready retail space in high-traffic Lewis Center, Ohio.
      9015 Columbus Pike, Lewis Center, OH 43035
      View Details
    • Contact for pricing
      16,837 SF

      Evans Farm Retail Space

      Prime Ohio retail space available
      0 Lewis Ctr Rd & Evans Farm Dr, Lewis Center, OH 43035
      View Details
    • Contact for pricing

      Open Strip Shopping Center

      Open strip shopping center with frontage on US-23.
      118 Meadow Park Ave, Lewis Center, OH 43035
      View Details
    • Contact for pricing

      Retail Space in NorthPointe Plaza

      Open strip shopping center with frontage on US-23.
      106 Meadow Park Ave, Lewis Center, OH 43035
      View Details
    • Contact for pricing
      12,000 SF

      Office Warehouse in Lewis Center

      Proposed 12,000 SF office warehouse with shared dock.
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      View Details
    • Contact for pricing
      1,365 SF

      Office Space Near Polaris

      Office space for rent near Polaris with ample parking.
      640-676 Enterprise Dr, Lewis Center, OH 43035
      View Details
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    Lewis Center, OH 43035-9699
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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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