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

    996 Thornwood Dr Heath, OH 43056-9333

    • Office buildings
    • 5,935 SF
    • 13.78 lot acres
    OFF-MARKET
    Value Estimations
    $660,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-6292903
    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

    • Office buildings

    Property Details for 996 Thornwood Dr

    Year built
    2017
    Lot size
    13.78 lot acres
    Property size
    5,935 SF
    Property type
    Office buildings
    APN
    030-088056-00.000
    APU
    3008805600000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $576,000
      Market price range: $293k - $758k
      AI Estimate
      $612,000
      Market price range: $260k - $1.06M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $595,000
      Current use
      RESTAURANT
      $925,000
      Change: +56% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Heath
    County
    Licking
    State
    Ohio
    Longitude
    -82.4774
    Latitude
    40.0243
    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
    $3,757
    $69,690
    $162,330
    $232,020
    -
    $199,100
    $463,800
    $662,900

    Comparable in this City

    • Value Estimation by Request
      2,304 SF

      598 30th St

      OFFICE BUILDING • 2,304 SF
      598 30th St, Heath, OH 43056-1204
      View Details
    • Value Estimation
      $695,000
      5,630 SF

      674 Jacksontown Rd

      OFFICE BUILDING • 5,630 SF
      674 Jacksontown Rd, Heath, OH 43056-9376
      View Details
    • Value Estimation
      $3,335,000
      67,519 SF

      777 Hopewell Dr

      OFFICE BUILDING • 67,519 SF
      777 Hopewell Dr, Heath, OH 43056-1581
      View Details
    • Value Estimation by Request
      1,350 SF

      1848 James Pkwy

      OFFICE BUILDING • 1,350 SF
      1848 James Pkwy, Heath, OH 43056-4003
      View Details
    • Value Estimation by Request
      2,726 SF

      645 Heath Rd

      OFFICE BUILDING • 2,726 SF
      645 Heath Rd, Heath, OH 43056-1164
      View Details
    • Value Estimation
      $2,010,000
      11,872 SF

      1801 Thornwood Dr

      OFFICE BUILDING • 11,872 SF
      1801 Thornwood Dr, Heath, OH 43056-9311
      View Details

    Similar Nearby for Sale

    • $750,000
      4,860 SF

      Heath Commercial Property - $750K

      Versatile 4,860 SF Commercial Building in Heath, OH
      550 Hebron Rd, Heath, OH 43056
      View Details
    • $309,900
      1,488 SF

      River Oaks Ranch Condo

      Two-bedroom, two-bath ranch condo in desirable Heath community.
      95 Jonathan Dr, Heath, OH 43056
      View Details
    • $50,000
      3,000 SF

      Established Children's Spa Business

      Profitable spa business for ages 3+ with loyal clientele.
      381 S 30Th St, Heath, OH 43056
      View Details
    • $330,000

      1.75 Acre Commercial Land Parcel

      1.75-acre commercial land parcel in active commercial corridor.
      1406 Hebron Rd, Heath, OH 43056
      View Details
    • $21,343,500

      Heath, OH Mixed-Use Land

      Land with mixed zoning and rail access in Heath, OH.
      Central Pkwy, Heath, OH 43056
      View Details
    • $1,200,000
      11,000 SF

      Aircraft Hangar with Office Space

      10,000 SF hangar with office on 2.92 acres.
      300 Heath Rd, Heath, OH 43056
      View Details

    Similar Nearby for Lease

    • $4,500 /Mo
      12,220 SF

      Historic Mixed-Use Building For Rent

      Historic mixed-use building with office and flex space available for rent.
      48 S 4Th St, Newark, OH 43056
      View Details
    • Contact for pricing
      16,000 SF

      Class A Office Space Available

      Class A office space with unique amenities in Heath, Ohio.
      781 W Irving Wick Dr, Heath, OH 43056
      View Details
    • Contact for pricing
      1,885 SF

      Retail Space in Heath, Ohio

      Retail space available in established shopping center.
      911 Hebron Rd, Heath, OH 43056
      View Details
    • $8 SF/Yr
      1,750 SF

      Stand-Alone Industrial Building For Lease

      Light industrial space with drive-in door access, ready for occupancy.
      831 Irving Wick Dr W, Heath, OH 43056
      View Details
    • $350,000

      Commercial Land For Lease

      Approximately 2.3 acre redevelopment opportunity in Qualified Opportunity Zone.
      733 Hebron Rd, Heath, OH 43056
      View Details
    • Contact for pricing

      Commercial Land for Rent

      2 acres of commercial land available for rent.
      833 S 30Th St, Heath, OH 43056
      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.
    996 Thornwood Dr
    Heath, OH 43056-9333
    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.