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    1355 Leesburg Ave Washington Court House, OH 43160

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    Retail property in established regional hub with high traffic.

    Property size:
    13,840 SF
    Lot size:
    6.60 Acres

    Property Features for 1355 Leesburg Ave

    General Information

    Standard status
    Active
    Size
    13,840 SF
    Lot size
    6.60 Acres

    Building Details

    Year built
    2007

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    Listing Contact
    Dan Cooper
    Dan Cooper
    Source: Crexi

    Listing Agency: Cooper Commercial Investment Group Listing Agent: Dan Cooper

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

    Learn more

    Overview

    Fayette Square Retail Hub

    Fayette Square is situated in Washington Court House, Ohio, a regional hub serving Fayette County and south-central Ohio. The city acts as the county seat and commercial center, providing retail, healthcare, educational, and employment services to local residents and nearby communities. The property is positioned at a high-traffic intersection along Leesburg Avenue (U.S. Route 62) and US Route 35, primary commercial corridors, offering connectivity through Washington Court House and surrounding markets. The location sees approximately 26,000 vehicles per day. U.S. Route 62 connects to U.S. Route 35 just north of the city, providing access to Dayton, Xenia, and Chillicothe. Interstate 71 is located approximately 25 miles east, linking the area to Columbus and Cincinnati, while Interstate 70 is accessible within roughly 30 miles. Regional air travel is accessible via John Glenn Columbus International Airport approximately 45 miles northeast, with Dayton International Airport roughly 60 miles west, and Cincinnati/Northern Kentucky International Airport approximately 90 miles southwest. Washington Court House functions as a retail and service destination for Fayette County and neighboring communities. The city's central location between Columbus, Dayton, and Cincinnati allows businesses to take advantage of regional connectivity. Major employment in the area is anchored by logistics, healthcare, manufacturing, and public-sector employers. Walmart is a primary employment driver through the 845,000 square foot Walmart Distribution Center located five miles away. YUSA Corporation, an automotive parts manufacturer, employs over 500 workers locally, while Courthouse Manufacturing, LLC adds to the area's industrial base. Healthcare employment is led by the Adena HealthSystem with Adena Fayette Medical Center. The property is located within the Washington Court House City School District and is also served by the Miami Trace Local School District. Nearby residents benefit from access to regional higher education institutions and workforce training programs. The property contains 13,840 square feet of retail space.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Hotel & Motel

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

    Similar Places Nearby

    Coinstar Kiosk | Bitcoin ATM

    Location Insight

    • Map
    • Local Demand
    City
    Washington Court House
    County
    Fayette
    State
    Ohio
    Longitude
    -83.459412
    Latitude
    39.52433

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    FAQs

    What type of property is this?
    Shopping center - Retail property in established regional hub with high traffic.
    Where is this shopping center located?
    The property is located at 1355 Leesburg Ave Washington Court House, OH.
    What are key features of this property?
    This property features: - High-traffic location at the intersection of Leesburg Avenue (U.S. Route 62) and U.S. Route 35, with approximately 26,000 vehicles per day.; - Strong regional connectivity via U.S. Route 35, Interstate 71, and Interstate 70, providing access to major cities.; - Located in Washington Court House, a stable regional hub serving Fayette County.
    (216) 562-1981
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    1355 Leesburg Ave Washington Court House, OH 43160
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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
    1355 Leesburg Ave Washington Court House, OH 43160
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    Listing Contact
    Dan Cooper
    Dan Cooper
    Real Estate License ID: 009003618
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