Historic Stone Hotel
201 W Chillicothe Avenue, Bellefontaine, OH 43311
For Sale
$350,000
Commercial Sale, Bellefontaine, OH
Property Size4,872 SF
Lot Size0.33 Acres
Price / SF$71.84
Days on Market788
Property Features for 201 W Chillicothe Avenue
General Information
Property type
Property subtype
Zoning description
Parking features
Basement
Subdivision
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Utilities
Sewer type
Building Details
Year built
Building materials
Listing Agency:
Bell Hankins Realty Group, LLC
Listed By:
Heidi Baker · License #2018000866
(937) 935-2450
Added: Sep 13, 2024
Changed: Oct 16
Last Checked: Nov 9 at 5:06AM
MLS# 1034367
Copyright © 2026 Western Regional Information System & Technology, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This historic stone building in downtown Bellefontaine offers an adaptable setting for boutique hospitality. The interior features tall ceilings, large windows, decorative ironwork, and ornate moldings, while the exterior is constructed from grey Ohio sandstone. A Duralast roof was installed in 2017, and some windows have been replaced or updated.
The property is positioned among restaurants and specialty retail in the downtown area, with a public city parking lot within walking distance. Public sewer service is in place, and the layout is identified as suitable for conversion to a boutique hotel, as well as restaurant or gallery use.
The property is positioned among restaurants and specialty retail in the downtown area, with a public city parking lot within walking distance. Public sewer service is in place, and the layout is identified as suitable for conversion to a boutique hotel, as well as restaurant or gallery use.
Key Highlights
- Historic grey Ohio sandstone construction
- Tall ceilings, large windows, ironwork, and ornate moldings
- Duralast roof installed in 2017
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,506
Cap Rate
8.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$590,120
$590.1K
Cap Rate 7%
$421,514
$421.5K
Cap Rate 9%
$327,844
$327.8K
Market Conditions
NOI Build-Up for 4,872 SF
Gross rent
$73.1K $15.00/SF
− Vacancy
−$11.0K −$2.25/SF
EGI
$62.1K $12.75/SF
− OpEx
−$32.6K −$6.69/SF
NOI
$29.5K $6.06/SF
Area
Logan County, OH
Vacancy
15.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$590,120
Cap Rate 7%
$421,514
Cap Rate 9%
$327,844
Alternative Uses
Best Use
Hotel Hospitality
$421.5K
$368.8K – $491.8K
NOI $29,506 @ 7.0% cap · market cap 8.43%
Second Best
Specialty Retail
$295.9K
$259.0K – $345.3K
NOI $20,716 @ 7.0% cap · market cap 5.92%
Theoretical Best
Office A
$983.5K
$860.5K – $1.15M
NOI $68,843 @ 7.0% cap · market cap 19.67%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
723
Businesses Nearby
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Business Placement
Demographics for 43311, OH
20,029
Population
9,497
Households
2.1
Avg Household Size
40
Median Age
17%
College-Educated
93%
High-School Grad
103.8 sq mi
ZIP Area
193
Density / Sq Mi
$64,217
Median Household Income
$40,341
Median Earnings
$833
Median Rent
$183,000
Median Home Value
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Hotel - Downtown property with adaptable interiors, architectural detail, and potential for boutique hospitality use.
Where is this hotel located?
The property is located at 201 W Chillicothe Avenue Bellefontaine, OH.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Historic grey Ohio sandstone construction; Tall ceilings, large windows, ironwork, and ornate moldings; Duralast roof installed in 2017
