Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    916 Reynoldsburg New Albany Rd Blacklick, OH 43004-8625
    Property profile & analytics

    916 Reynoldsburg New Albany Rd, Blacklick, OH 43004-8625

    View on Map
    • Commercial land
    • 1,064 SF
    • 1.00 lot acres
    Off-Market
    Last Sale Aug 18, 2023
    $179,000
    Property ID
    US66-1176122
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial land

    Property Details for 916 Reynoldsburg New Albany Rd

    Year built
    1958
    Lot size
    1.00 lot acres
    Property type
    Commercial land
    APN
    170-000733
    APU
    170000733

    Description

    This exceptional one-acre commercial lot, located at 916 Reynoldsburg New Albany Road in Blacklick, Ohio (zip code 43004), is offered at $249,000. The property encompasses 43,560 square feet and is situated in Jefferson Township, within the Gahanna Schools district. Its strategic location offers easy access to key amenities. The property boasts significant flexibility, with the potential for re-zoning to accommodate residential or mixed-use developments. All essential public utilities, including sewer and water, are readily available and approved for use. Pre-approved plans exist for a 6,000 square foot event center, complete with ample parking, demonstrating the property's immediate development potential. This combination of location, zoning flexibility, and approved plans makes this a highly attractive investment opportunity for developers seeking a versatile and strategically located site in a thriving area. The property's prime location and approved plans significantly reduce development hurdles, presenting a compelling opportunity for a swift return on investment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Blacklick
    County
    Franklin
    State
    Ohio
    Longitude
    -82.8097
    Latitude
    40.0023
    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
    $9,201
    $114,100
    $0.00
    $114,100
    -
    $326,000
    $0.00
    $326,000

    Comparable in this City

    • Value Estimation by Request
      0.25 Acres

      Walnut St

      VACANT COMMERCIAL LAND
      Walnut St, Blacklick, OH 43004
      View Details
    • Value Estimation by Request
      0.20 Acres

      255 Walnut St

      VACANT COMMERCIAL LAND
      255 Walnut St, Blacklick, OH 43004-9435
      View Details
    • Value Estimation by Request
      3.09 Acres

      718 Reynoldsburg New Albany Rd

      VACANT COMMERCIAL LAND
      718 Reynoldsburg New Albany Rd, Blacklick, OH 43004-9633
      View Details
    • Value Estimation by Request
      0.25 Acres

      Walnut St

      VACANT COMMERCIAL LAND
      Walnut St, Blacklick, OH 43004
      View Details
    • Value Estimation by Request
      0.05 Acres

      Havens Cors Rd

      VACANT COMMERCIAL LAND
      Havens Cors Rd, Blacklick, OH 43004
      View Details
    • Value Estimation by Request
      8.25 Acres

      6900 Taylor Rd

      VACANT COMMERCIAL LAND
      6900 Taylor Rd, Blacklick, OH 43004-8639
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Commercial Land Near High Traffic

      1.167 acres suitable for commercial, retail, food, or office use.
      89 N Waggoner Rd, Blacklick, OH 43004
      View Details
    • Contact for pricing

      Commercial Land Near High Traffic

      1.167 acres suitable for commercial, retail, or office use.
      Waggoner Rd, Blacklick, OH 43004
      View Details
    • Contact for pricing

      5284 Taylor Road SW, Blacklick, OH 43004

      Land
      5284 Taylor Rd SW, Blacklick, OH 43004
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Land for Retail or Service

      Multiple land pads available on a major retail corridor.
      8394 E Broad St, Blacklick, OH 43004
      View Details
    • Contact for pricing
      22,447 SF

      Blacklick Retail Space Available

      Retail property available for lease in Blacklick, Ohio.
      7995 East Broad St, Blacklick, OH 43004
      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.
    916 Reynoldsburg New Albany Rd
    Blacklick, OH 43004-8625
    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
    916 Reynoldsburg New Albany Rd, Blacklick, OH, 43004
    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!