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    128 Morris Road Circleville, OH 43113

    View on Map
    For Lease
    $7,000 /Mo

    COMMERCIAL - Circleville, OH

    Type:Retail
    Property size:
    57,120 SF
    Lot size:
    5.02 Acres
    Added:
    Nov 23, 2025
    Days on Market:
    129
    Last Refresh:
    Apr 1 at 3:06 am

    Property Features for 128 Morris Road

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Standard status
    Active
    APN
    A05-1-135-00-011-03
    Size
    57,120 SF
    Lot size
    5.02 Acres

    Taxes and HOA fees

    TaxYear
    2024
    TaxAnnualAmount
    8174

    Utilities

    Utilities
    Water Available
    Sewer type
    Public Sewer
    Heating system
    Forced Air
    Water source
    Public

    Building Details

    Year built
    1987
    Floors in Building
    1
    Number of units
    1

    We can help!

    Listing Contact
    Jeffrey A Sauer

    Listing agent Jeffrey A Sauer

    Listing office Rise Realty 355 E Main Street, Lancaster, OH

    Listing date Nov 23, 2025

    MLS# 225044000

    Copyright © 2026 Columbus and Central Ohio Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Spacious Retail Space in Circleville

    This is a 10,000 SF space available for lease in the northern retail area of Circleville. The property is currently used as a bounce house, game room, and party business. It is located within a GB (General Business) zone, making it suitable for a variety of uses, including retail, medical office, general office, and restaurant. The lot size is 5.02 acres and the property size is 57120 Square Feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Circle City Events ... Arcade & Gaming Center

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Circleville
    County
    Pickaway
    State
    Ohio
    Longitude
    -82.938751
    Latitude
    39.622088

    Nearby Similar for Lease

    • Contact for pricing

      Circleville Retail Space Available

      5,000 SF retail space for lease in Circleville, OH.
      120 Morris Road unit: B, Circleville, OH 43113
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    • $17/mo

      Retail Space on Main Street

      Retail space with high visibility and ample parking available for lease.
      475 E Main Street unit: A, Circleville, OH 43113
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      Circleville Flex Space For Lease

      Flex space with offices, conference room, and drive-in bays.
      1099 US-22 unit: W, Circleville, OH 43113
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    • $495,000/mo

      Renovated Flex-Warehouse on 1.5 Acres

      Newly renovated 3,200 SF flex-warehouse on 1.5 acres for rent.
      22840 Canal Road, Circleville, OH 43113
      View Details
    • $18/mo

      Retail Space on Main Street

      Retail space available for lease on Main Street.
      509-513 E Main St, Circleville, OH
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    • $8/mo

      Office and Warehouse Space Available

      Two-story office and warehouse space for lease.
      1950 Stoneridge Dr, Circleville, OH
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    • Contact for pricing

      Retail Spaces Available For Lease

      Two retail spaces available in a convenient location.
      509 E Main St, Circleville, OH 43113
      View Details
    • Contact for pricing

      Retail Space in Circleville, Ohio

      Retail space anchored by Big Lots, near fairgrounds.
      201 Lancaster Pike, Circleville, OH 43113
      View Details

    FAQs

    What type of property is this?
    Retail space - 10,000 SF retail space suitable for various businesses.
    Where is this retail space located?
    The property is located at 128 Morris Road Circleville, OH.
    What is the lease rate?
    The lease rate is $7,000 /Mo.
    What are key features of this property?
    This property features: Large 10,000 SF open space suitable for various business types.; Zoned GB (General Business) allowing for retail, medical office, general office, and restaurant uses.; Located in the northern Circleville retail area.
    (740) 503-2126
    We can help!
    Listing Contact
    Jeffrey A Sauer
    Learn More
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    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
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