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

    963 21st St Newark, OH 43055-2921

    • Drive through restaurants
    • 2,762 SF
    • 0.80 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2468356
    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

    • Tim Hortons / Cafe & Coffee Shop
    • UCZE Chimney Fix & Cleaning Services Inc. / General Contractor / Renovation Specialist

    Property Details for 963 21st St

    Year built
    2003
    Lot size
    0.80 lot acres
    Property size
    2,762 SF
    Property type
    Drive through restaurants
    APN
    054-259398-00.001
    APU
    5425939800001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    Licking
    State
    Ohio
    Longitude
    -82.4293
    Latitude
    40.0746
    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
    $12,077
    $154,000
    $139,550
    $293,550
    -
    $440,000
    $398,700
    $838,700

    Comparable in this City

    • Value Estimation by Request
      1,592 SF

      286 Cedar Run Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,592 SF
      286 Cedar Run Rd, Newark, OH 43055
      View Details
    • Value Estimation by Request
      2,629 SF

      1215 21st St

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,629 SF
      1215 21st St, Newark, OH 43055-3011
      View Details
    • Value Estimation
      $2,715,000
      1,976 SF

      1091 21st St

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,976 SF
      1091 21st St, Newark, OH 43055-2956
      View Details
    • Value Estimation by Request
      3,256 SF

      1175 21st St

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,256 SF
      1175 21st St, Newark, OH 43055-3011
      View Details
    • Value Estimation by Request
      1,721 SF

      973 21st St

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,721 SF
      973 21st St, Newark, OH 43055-2921
      View Details
    • Value Estimation by Request
      3,893 SF

      1445 21st St

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,893 SF
      1445 21st St, Newark, OH 43055-3069
      View Details

    Similar Nearby for Sale

    • $175,000
      3,950 SF

      Established Pizza Business Opportunity

      Thriving pizza business with loyal customer base and growth potential.
      318 Hudson Ave, Newark, OH 43055
      View Details
    • Contact for pricing
      16,600 SF

      Multi-Tenant Income Property For Sale

      16,600 SF multi-tenant property with long-term tenants.
      951 Buckeye Ave, Newark, OH 43055
      View Details
    • $596,900
      0.51 Acres

      Apartments and Storefront on Cherry

      Six apartments and a storefront in Newark, Ohio.
      1863 Cherry Valley Rd, Newark, OH 43055
      View Details
    • $3,725,000
      14,560 SF

      Walgreens Net Lease Investment

      High-yield Walgreens in prime Newark, OH location.
      1425 21St St, Newark, OH 43055
      View Details
    • $350,000
      2,000 SF

      Newark Shopping Center Investment

      Prime Retail Center, 100% Occupied
      22 22Nd St, Newark, OH 43055
      View Details
    • $2,515,000
      10,242 SF

      Newark CVS Pharmacy Investment

      High-yield, NNN-leased CVS pharmacy.
      955 21St St, Newark, OH 43055
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      2,645 SF

      Commercial Space in Newark, OH

      Office building for lease, currently operating as a saloon.
      22 N Street Rd, Newark, OH 43055
      View Details
    • Contact for pricing
      8,872 SF

      Retail Space in Newark, Ohio

      Retail spaces available in Newark, offering accessibility and visibility.
      1640-1680 N 21St St, Newark, OH 43055
      View Details
    • $975 /Mo
      6,400 SF

      Versatile Space in Newark, OH

      Move-in-ready space suitable for retail, office, or service-based businesses.
      124 S 30Th St, Newark, OH 43055
      View Details
    • Contact for pricing
      50,000 SF

      Creative Space in Newark Station

      Transformed warehouse offering creative spaces, retail, and dining options.
      325 W Main St, Newark, OH 43055
      View Details
    • Contact for pricing
      27,368 SF

      Log Pond Plaza Retail Center

      Newark, Ohio Strip Mall - High Traffic
      1257-1299 Log Pond Dr, Newark, OH 43055
      View Details
    • Contact for pricing
      6,500 SF

      Retail Space with Renovation Scheduled

      Retail space for lease with upcoming facade remodel and parking.
      1012-1066 Mount Vernon Rd, Newark, OH 43055
      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.
    963 21st St
    Newark, OH 43055-2921
    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.