Land Investment in Columbus
Columbus land market's running hot, especially anything within 20 miles of Intel's New Albany fab site. We're seeing $35K-$65K per acre for entitled industrial parcels near the semiconductor corridor. Raw residential land in decent school districts is trading at $18K-$28K per acre if you can get utilities. The catch? Entitlement timelines have stretched 18-24 months due to city planning backlogs and new stormwater requirements. If you're marketing land here, buyers want Phase I environmental reports upfront and realistic utility hookup costs, not wishful thinking.
Market Context
Cap Rate Range
Land trades on price per acre basis, not cap rates. Entitled industrial $35K-$65K/acre, residential $18K-$28K/acre
Current Vacancy
Limited supply of entitled parcels. Less than 200 acres of shovel-ready industrial land within Intel corridor
Rent Trend
Build-to-suit industrial land leases at $0.85-$1.15 per SF annually for entitled sites
Absorption
Industrial land absorption accelerated 340% since Intel announcement. Residential parcels move in 8-14 months
Price Per Unit Trend
Entitled residential lots commanding $45K-$75K per unit in suburbs, up 25% from 2024
Transaction Volume
$180M in land sales Q4 2025, 65% industrial/logistics related. Largest deal: 85-acre Intel supplier site for $4.2M
Submarket Analysis
New Albany/Intel Corridor
$55K-$85K per acre capVacancy
Virtually zero entitled inventory
Avg Rent (1BR)
Ground lease $1.25/SF NNN
Red hot. Intel suppliers paying premiums for proximity
OM Tip
Include traffic counts on 161/23. Buyers want utility capacity letters from AEP Ohio
Southwest Franklin County
$25K-$45K per acre capVacancy
Moderate supply, 400+ acres available
Avg Rent (1BR)
Ground lease $0.75/SF NNN
Steady industrial demand from logistics companies
OM Tip
Highlight proximity to I-270/I-71 interchange. Include ODOT traffic projections
Dublin/Northwest
$40K-$65K per acre capVacancy
Limited entitled residential inventory
Avg Rent (1BR)
Lot sales $65K-$85K per unit
Strong residential demand, Dublin schools premium
OM Tip
Include Dublin school district enrollment projections. Water/sewer capacity critical
Southeast/Pickaway County
$15K-$28K per acre capVacancy
Abundant raw land supply
Avg Rent (1BR)
Agricultural lease $200-$300/acre
Speculative play on Columbus metro expansion
OM Tip
Clarify sewer availability timeline. Most parcels on septic approval only
Urban Infill/Short North
$2M-$4M per acre capVacancy
Extremely limited supply
Avg Rent (1BR)
Mixed-use development sites
Trophy assets for mixed-use development
OM Tip
Include parking variance letters. Height restrictions vary by block
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What Your OM Needs to Address
Environmental Status Clarity
Columbus buyers won't move without Phase I reports. Any industrial legacy requires Phase II
Data to Include
Phase I date and consultant name, Phase II summary if applicable, known contamination within 1000 feet
Utility Infrastructure Reality Check
Don't assume utilities are available. AEP Ohio and city water/sewer have capacity constraints
Data to Include
Utility capacity letters, hookup cost estimates, timeline for service extensions
Entitlement Timeline Honesty
Columbus planning review taking 18-24 months. Franklin County faster at 12-16 months
Data to Include
Current entitlement status, required approvals remaining, realistic timeline with consultants' letters
Traffic Impact Disclosures
ODOT and MORPC have new traffic study requirements. Industrial sites over 100K SF need full studies
Data to Include
Existing traffic counts, required transportation improvements, ODOT coordination status
Stormwater Management Costs
New Franklin County stormwater rules add significant development costs and timeline
Data to Include
Topographic survey, preliminary stormwater design, estimated infrastructure costs
School District Impact Fees
Residential development faces impact fees ranging $2,500-$8,500 per unit depending on district
Data to Include
School district boundaries, current impact fee schedule, enrollment capacity data
Investment Outlook
Short Term
Intel effect continues driving land prices near semiconductor corridor. Expect 15-20% annual price appreciation through 2027 for entitled industrial sites. Residential land appreciation slowing to 8-12% as mortgage rates pressure housing demand. Raw land harder to finance, requires 30-40% down payments.
Medium Term
2027-2030 timeline depends on Intel Phase 2 construction decision and federal CHIPS Act funding continuation. Industrial land supply constraints persist as owners hold for higher prices. Residential development shifts toward townhome/condo sites as single-family affordability deteriorates. Environmental compliance costs increase with stricter Ohio EPA rules.
Long Term
Columbus positioned for continued growth with semiconductor ecosystem build-out attracting supply chain companies. Climate change regulations may limit greenfield development, increasing infill site premiums. Transportation infrastructure improvements around Intel corridor create new development nodes. Land banking becomes viable strategy for patient capital with 10+ year horizons.
Buyer Profile
Industrial land: REITs, build-to-suit developers, manufacturing companies relocating supply chains closer to Intel. Residential: Local home builders, national production builders in suburbs, private equity for entitled lot portfolios. Raw land: Family offices, local developers, farmers transitioning to development. Foreign buyers minimal due to CFIUS scrutiny near Intel facility.
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