Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    22840 Canal Road Circleville, OH 43113

    View on Map
    Claim this Listing
    For Lease
    $495,000

    COMMERCIAL - Circleville, OH

    Property size:
    3,200 SF
    Lot size:
    0.74 Acres
    Added:
    Sep 21, 2023
    Days on Market:
    943
    Last Refresh:
    Apr 20 at 3:06 pm

    Property Features for 22840 Canal Road

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Parking
    2
    Standard status
    Active
    APN
    P33-0-001-00-042-00
    Size
    3,200 SF
    Lot size
    0.74 Acres

    Taxes and HOA fees

    Tax Year
    2022
    Tax Annual Amount
    904

    Building Details

    Year built
    1950

    We can help!

    Listing Contact
    Jonathan Romanovich
    Jonathan Romanovich

    Listing agent Jonathan Romanovich License #2021006612

    Listing office Red 1 Realty 921 Eastwind Dr Suite 102, Columbus, OH

    Listing date Sep 21, 2023

    MLS# 223031125

    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

    Renovated Flex-Warehouse on 1.5 Acres

    This newly renovated 3,200 square foot flex-warehouse is situated on 0.74 acres. The property includes two offices, a kitchenette, and restrooms. It features new windows, electrical systems, and overhead doors. The perimeter is completely gated and has fresh gravel. The property is located in Circleville, Ohio, approximately 25 minutes from the I-270 and US-23 interchange. This property is suitable for an owner-user or investor.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    JN GRAHAM TRUCKING, ... Trucking Company

    Suggested Use

    Auto Repair Shop Department Store Kitchen & Bath Showroom Clothing & Fashion Store Veterinary Clinic Home Appliance Store Clothing & Fashion Store Clothing & Fashion Store Parking Lot & Garage

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

    Location Insight

    • Map
    • Local Demand
    City
    Circleville
    County
    Pickaway
    State
    Ohio
    Longitude
    -82.971706
    Latitude
    39.599168

    Nearby Similar for Lease

    • Contact for pricing

      Professional Office Suites Available

      Variety of office suites suitable for many business types.
      617 Brookhill Lane, Circleville, OH 43113
      View Details
    • Contact for pricing

      Professional Office Suites Available

      Variety of office suites available for rent in Circleville.
      617 Brookhill Lane, Circleville, OH 43113
      View Details
    • Contact for pricing

      Spacious Retail Space in Circleville

      10,000 SF retail space suitable for various businesses.
      128 Morris Road, Circleville, OH 43113
      View Details
    • Contact for pricing

      Circleville Retail Space Available

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

      Retail Space on Main Street

      Retail space with high visibility and ample parking available for lease.
      475 E Main Street, Circleville, OH 43113
      View Details
    • Contact for pricing

      Circleville Flex Space For Lease

      Flex space with offices, conference room, and drive-in bays.
      1099 US-22, 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
      View Details
    • $8/mo

      Office and Warehouse Space Available

      Two-story office and warehouse space for lease.
      1950 Stoneridge Dr, Circleville, OH
      View Details
    • 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?
    Warehouse - Newly renovated 3,200 SF flex-warehouse on 1.5 acres for rent.
    Where is this warehouse located?
    The property is located at 22840 Canal Road Circleville, OH.
    What is the lease rate?
    The lease rate is $495,000.
    What are key features of this property?
    This property features: Newly renovated 3,200 sq ft flex‑warehouse.; Sits on 1.5 acres of land.; Includes two offices, kitchenette, and restrooms.
    (614) 935-9075
    We can help!
    Listing Contact
    Jonathan Romanovich
    Jonathan Romanovich
    Real Estate License ID: 2021006612
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!