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

    8940 Grn Mdws Dr Lewis Center, OH 43035-9703

    • Grocery and convenience stores
    • 7,694 SF
    • 4.24 lot acres
    OFF-MARKET
    Last Sale
    Sep 30, 2020
    $1,500,000
    Value Estimations
    $1,470,000
    Show details
    Cap Rate Potential
    2.1%
    Grocery and convenience stores
    Location Intelligence
    Property ID
    US66-4406721
    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

    • Grocery and convenience stores

    Property Details for 8940 Grn Mdws Dr

    Year built
    2021
    Lot size
    4.24 lot acres
    Property size
    7,694 SF
    Property type
    Grocery and convenience stores
    APN
    318-313-04-013-002
    APU
    31831304013002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,495,000
      ML approach
      $1,390,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $967,000
      Market price range: $551k - $1.20M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,075,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Lewis Center
    County
    Delaware
    State
    Ohio
    Longitude
    -83.0141
    Latitude
    40.1578
    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
    $87,748
    $424,830
    $709,490
    $1,134,320
    -
    $1,213,800
    $2,027,100
    $3,240,900

    Comparable in this City

    • Value Estimation
      $10,455,000
      202,966 SF

      8659 Columbus Pike

      GROCERY, SUPERMARKET • 202,966 SF
      8659 Columbus Pike, Lewis Center, OH 43035-9699
      View Details
    • 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 by Request
      5,702 SF

      9151 Columbus Pike

      CONVENIENCE STORE • 5,702 SF
      9151 Columbus Pike, Lewis Center, OH 43035-8737
      View Details
    • Value Estimation
      $10,710,000
      210,364 SF

      8870 Columbus Pike

      GROCERY, SUPERMARKET • 210,364 SF
      8870 Columbus Pike, Lewis Center, OH 43035-9115
      View Details

    Similar Nearby for Sale

    • $159,900
      1,242 SF

      Established Dry Cleaning Business Opportunity

      Turnkey dry cleaning business for sale in a high-traffic location.
      Business Opportunity St, Lewis Center, OH 43035
      View Details
    • $159,900

      Established Dry Cleaning Business Opportunity

      Turnkey dry cleaning business for sale in a busy location.
      0000 Business Opportunity St, Lewis Center, OH 43035
      View Details
    • $3,235,000
      5,167 SF

      New Retail Property For Sale

      New construction retail property with long-term lease and drive-thru.
      55 Meadow Park Ave, Lewis Center, OH 43035
      View Details
    • $1,325,000
      8,569 SF

      Mixed-Use Commercial Building Investment

      Income-producing mixed-use building in developing downtown Lewis Center.
      1550 Lewis Center Rd, Lewis Center, OH 43035
      View Details
    • $2,582,835

      Ninja Xpress Car Wash

      Full-service car wash with redevelopment potential on 1.681 acres.
      8062 Orange Center Dr, Lewis Center, OH 43035
      View Details
    • $375,000
      1,716 SF

      Ranch Condo in Bale Kenyon

      3-bedroom, 2.5-bath ranch condo with private patio and garage.
      3477 Birkland Cir, Lewis Center, OH 43035
      View Details

    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, OH.
      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
    • $204 SF/Yr
      4,770 SF

      Lewis Center Commercial Space

      Flexible Office, Warehouse, & Flex Units
      7500 Green Meadows Dr, Lewis Center, OH 43035
      View Details
    • $11 SF/Yr
      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
    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.
    8940 Grn Mdws Dr
    Lewis Center, OH 43035-9703
    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.