3775 Lancaster New Lexington RdLancaster, OH 43130

Property Details for 3775 Lancaster New Lexington Rd

Year built

1965

Lot size

55.76 AC

Property size (Sq ft)

18,824 SF

Property type

Office buildings

APN

053-50003.10

APU

535000310

Description

This expansive 381,872 square foot industrial property, situated on 118.62 acres in Lancaster, Ohio, presents a significant opportunity for owner-users. Built in 1965, the facility boasts 20 loading docks, one drive-in door, and substantial office space. The property features a unique combination of assets including internal rail service with two rail doors, an on-site AEP electric substation, and ample trailer parking. Ceiling heights range from 21 to 25 feet. An additional 58 acres of undeveloped land offers significant expansion potential. Conveniently located southeast of Columbus, this location provides access to a large workforce. The property will be available for occupancy in late Q3 2024, making it an ideal solution for companies in food production, battery, automotive, plastics, solar, or other manufacturing sectors. This is a rare opportunity to acquire a well-equipped, strategically located industrial facility with significant growth capacity.

• CAP approach

  CAP return

  Valuation

  6%

  $3,713,570

  6.5%

  $3,427,910

  7%

  $3,183,060

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,760,800

  Geo Method

  $1,760,800

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $6,982,660

  Retail / Commercial

  $3,534,890

  Mixed-Use / Specialty

  $3,486,200

  Hospitality / Lodging

  $2,510,740

  Institutional / Educational

  $3,611,350

  Residential Income

  $4,225,280

  Multifamily

  $5,267,600

  Automotive / Energy

  $3,095,440

  Parking / Income-Based Land

  $1,103,850

  Restaurant / Food Service

  $1,736,200

  Healthcare / Senior Housing

  $3,612,040

Location Insight

City

Lancaster

County

Fairfield

State

Ohio

Latitude

39.7185

Longitude

-82.5262

CBSA code

18140

CBSA name

COLUMBUS, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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