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    87 Olive St Gallipolis, OH 45631

    View on Map
    Sponsored
    For Sale
    $525,000

    SINGLE_FAMILY - Gallipolis, OH

    Type:Office
    Property size:
    11,988 SF
    Lot size:
    0.51 Acres
    Days on Market:
    189
    Last Refresh:
    Mar 11 at 8:06 pm

    Property Features for 87 Olive St

    General Information

    Property type
    Residential
    Property subtype
    Office
    Standard status
    Active
    Zoning
    Mixed Zoning
    APN
    00702601800,00702602
    Interior features
    Ceiling Fans, Accessibility Features, Flooring- Carpet, Flooring- Linoleum, Flooring- Vinyl
    Accessibility
    Accessible Approach with Ramp
    Size
    11,988 SF
    Lot size
    0.51 Acres

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1978
    Roof type
    Metal

    We can help!

    Listing Contact
    Joshua Bodimer
    Joshua Bodimer

    Wiseman Real Estate Inc. (740) 446-3644

    Listing agent Joshua Bodimer (740) 446-3644 License #BRKP.2016000145

    Listing date Sep 4, 2025

    MLS# 2433928

    Copyright © 2026 Athens County Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Versatile Office Building with Covered Parking

    This well-maintained office building, suitable for a corporate headquarters, offers over 5,000 square feet of office and conference space. The property includes multiple conference rooms, private offices, and break rooms with kitchenettes. A covered parking area of over 6,500 square feet accommodates 10 parking spaces and presents the possibility of conversion into warehouse or light manufacturing space. The building is equipped with a fire suppression system and a key card entry system. Additionally, there is a fenced outdoor parking area. Situated with easy access to US 35 and Ohio State Route 7, the property is located on a 0.51-acre lot and totals 11,988 square feet. This property offers numerous possibilities for various business needs.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Gallipolis
    County
    Gallia
    State
    Ohio
    Longitude
    -82.1968953
    Latitude
    38.8157532

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    FAQs

    What type of property is this?
    Office building - Well-maintained office building with flexible parking and conversion potential.
    Where is this office building located?
    The property is located at 87 Olive St Gallipolis, OH.
    What is the asking price?
    The asking price for this property is $525,000.
    What are key features of this property?
    This property features: - Over 5,000 sq ft of office/conference space.; - Covered parking area of over 6,500 sq ft for 10 vehicles.; - Parking garage convertible to warehouse/light manufacturing space.
    (740) 446-3644
    Request Owner's contact information
    87 Olive St Gallipolis, OH 45631
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    Gallipolis, OH 45631
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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
    87 Olive St Gallipolis, OH 45631
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    We can help!
    Listing Contact
    Joshua Bodimer
    Joshua Bodimer
    Real Estate License ID: BRKP.2016000145
    (740) 446-3644 (740) 645-6665
    Learn more
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