Add Listing
    For Sale
    • 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

    S US Highway 23 25460 Circleville, OH

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Commercial land with extensive road frontage near US Rt 23.

    Type:LAND
    Lot size:
    48.58 Acres
    Added:
    Mar 26, 2021
    Days on Market:
    1852
    Last Refresh:
    Apr 5 at 8:45 pm

    Property Features for S US Highway 23 25460

    General Information

    Standard status
    Active
    Lot size
    48.58 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Randy Best
    Randy Best

    Listing agent Randy Best License #311236

    Listing office Best Corporate Real Estate

    Listing date Mar 26, 2021

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Best Corporate Real Estate

    Overview

    Commercial Land South of Circleville

    This commercially zoned land is located just south of Circleville, Ohio, off of US Rt 23, in unincorporated Pickaway Township. The property, currently used for agriculture, features over 2,000 ft of road frontage on both US Rt. 23 and Pittsburgh Rd. Utilities are available on site.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Circleville
    County
    Pickaway
    State
    Ohio
    Longitude
    -82.955
    Latitude
    39.5597

    Nearby Similar for Sale

    • $525,000

      Equestrian-Ready 5-Acre Property

      5-acre Circleville property with horse barn and indoor arena.
      7361 Zane Trail Road, Circleville, OH 43113
      View Details
    • $424,900

      Mixed-Use Building in Circleville, OH

      Two-story building with apartments and commercial space for sale.
      1002 S Court Street, Circleville, OH 43113
      View Details
    • $169,900

      Circleville Duplex with Income Potential

      Corner lot duplex, rehabbed in 2021-2022, ideal for investors.
      837 Clinton Street, Circleville, OH 43113
      View Details
    • $40,000

      Residential Lot in Circleville, OH

      Residential lot with utilities and garage in Circleville, OH.
      375 Eva Drive, Circleville, OH 43113
      View Details
    • $89,900

      2.49 Acre Lot in Circleville

      Build your dream home on this spacious lot near Columbus.
      Little Walnut Road, Circleville, OH 43113
      View Details
    • $550,000
      2,183 SF

      High-Visibility Commercial Building on Highway

      2,183 sq ft commercial building on 1.2-acre lot.
      24955 US Highway 23 S, Circleville, OH 43113
      View Details
    • $2,800,000
      273,680 SF

      Prime Land in Circleville, OH

      Land for redevelopment near Circleville City Center.
      559 East Ohio Street, Circleville, OH, 43113
      View Details
    • $2,025,000
      22 SF

      Development Land Near Future Facility

      22.50 acres for development near future manufacturing facility.
      N Court St, Circleville, OH 43113
      View Details
    • $704,000
      2,200 SF

      Established White Castle Restaurant For Sale

      2,200 SF White Castle on US Highway 23.
      24599 US Hwy 23 S, Circleville, OH 43113
      View Details
    • $315,316

      Versatile Two-Unit Property

      Two-unit property with commercial/residential zoning and recent updates.
      208 N Scioto Street, Circleville, OH 43113
      View Details
    • $3,255,000

      Land Available in Pickaway County

      Land for sale in Pickaway County, Ohio.
      612 Tarlton Road, Circleville, OH 43113
      View Details
    • $169,900

      Duplex on Corner Lot

      Duplex with flexible living or income potential, rehabbed in 2021-2022.
      837 Clinton Street, Circleville, OH 43113
      View Details

    FAQs

    What type of property is this?
    Land - Commercial land with extensive road frontage near US Rt 23.
    Where is this land located?
    The property is located at S US Highway 23 25460 Circleville, OH.
    What is the asking price?
    The asking price for this property is $2,914,500.
    What are key features of this property?
    This property features: Over 2,000 ft. of road frontage on US Rt. 23 and Pittsburgh Rd.; Zoned Commercial.; Utilities are on site.
    (614) 559-3350 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Randy Best
    Randy Best
    Real Estate License ID: 311236
    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!