Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$13,795,000
Warehouses
Southpark Pl Grove City, OH 43123
Entity Owned
1-yr Hold
Free & Clear
Property ID
US66-3669869
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2019
Total area
151,200 SF
Lot
12.23 ac (532,565 SF)
APN
040-008992
UPID
US66-3669869
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$11.54M
Blend (final)
Blend
$13.80M
Owner & transaction history
Areit Southpark Lc III LLC · 1 yrs held
Areit Southpark Lc III LLC
since 2024
Last sale
$16.0M
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$22.7M
+96.7%
Office building
$22.6M
+95.8%
Apartment house (5+ units)
$21.9M
+89.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Grove City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Grove City submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$11,560,000
Current use
MEDICAL BUILDING
$22,740,000
Change: +97% · Conversion: Difficult
OFFICE BUILDING
$22,625,000
Change: +96% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$21,920,000
Change: +90% · Conversion: Difficult
RETAIL STORES
$18,895,000
Change: +63% · Conversion: Moderate
Blend value · Realmo final
$13.80M
Range $12.42M – $15.17M · ±10% · vs last sale $15.95M (Dec 27 2024)
Last sale anchor
$15.95M
Dec 27 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$91 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$32,281
Tax year 2023
Assessed value
$3,111,820
Assessed 2023
Previous assessed
$2,779,570
+12.0% YoY
Effective rate
1.04%
On assessed value
Assessed land
$386,750
Assessed improvement
$2,725,070
Land market value
$1,105,000
Improvement market value
$7,785,900
Total market value
$8,890,900
Applied tax rate
40.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2019
Heating
YES
Cooling
CENTRAL
Buildings
1
Stories
1
Total area
151,200 SF
Lot
12.23 ac (532,565 SF)
APN
040-008992
UPID
US66-3669869
Jurisdiction
FRANKLIN
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$11.6M
MEDICAL BUILDING
Est. value
$22.7M
OFFICE BUILDING
Est. value
$22.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$21.9M
RETAIL STORES
Est. value
$18.9M
WAREHOUSE, STORAGE Current
MEDICAL BUILDING
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2019
Heating
YES
Cooling
Yes
Stories
1
Buildings
1
Lot
12.23 ac
Current owner
From public records · entity-resolved
Areit Southpark Lc III LLC
Entity
Free & Clear · 1 yrs held
Mailing address
2750 E 146TH ST STE #200, CARMEL, IN 46033-7236
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 27, 2024
$15,950,000
Areit Southpark Lc III LLC
Southpark Place Ohio Becknell Invr
Deed
—
Nov 7, 2017
$1,135,000
Southpark Place Oh Becknell In
Quality Products INC +
Warranty Deed
—
Mar 14, 2017
$1,100,700
Gantz Road Properties LLC
Pizzuti Land LLC
Grant Deed
—
Mar 31, 2011
—
Pizzuti Land LLC
—
Grant Deed
related
$1,800,000 · Fifth Third Bank
Jun 4, 1999
—
Pizzuti Land Co LLC
Pdi Columbus III LP
Grant Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own Southpark Pl?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
