Listed by Red One Realty, Red 1 Realty
$1,500,000
1118-1120 Lockbourne Road #20
Details
APN 010-318661-00
Property Type Land, Industrial
Sub Type Warehouse, Apartment Building
Units 2
NOI $36,000
Price per SqFt $188
Year Built 2022
Acreage 0.230
Land | 0.23 acres
Marketing description
Development Opportunity - Lockbourne Rd, Columbus, OH 43207
Positioned in one of the fastest-evolving corridors on the south side of Columbus, this ±4-acre development site offers a rare opportunity to deliver a high-density residential project in a location primed for growth.
Ideal for approximately 150-200 multi-family units or condominium development, the site supports a modern, efficient layout with integrated lower-level or tuck-under garage parking, maximizing density while maintaining strong design appeal.
Strategically located along Lockbourne Road, the property benefits from direct access to major transit routes and COTA bus lines, providing seamless connectivity to Downtown Columbus, employment hubs, and key lifestyle amenities.
This site falls within an area supported by city-backed development incentives, making it especially attractive for developers seeking tax advantages, revitalization programs, and long-term upside.
An additional value-add includes a separate commercial building (not included in the 4 acres) currently leased to a church at $3,000/month NNN, providing stable supplemental income or future repositioning potential.
Surrounded by ongoing development, improving infrastructure, and increasing demand for workforce and market-rate housing, this is a high-potential infill opportunity in a rapidly transforming submarket.
Listing Contacts
Listed by Red One Realty, Red 1 Realty
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$36,000.00
$3,000.00/mo
Valuation Metrics
0
DSCR
2.4%
Cap Rate
2.4%
ROI
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