Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Waterfront Commercial Development Lot Title is generated by Realmo AI

    Lot 24 North Shore Drive, Chillicothe, OH 45601

    View on Map
    Claim this Listing
    For Sale
    $399,900

    Develop a commercial use on a waterfront lot with public water and sewer available at the street.

    Type:Land
    Lot size:
    10.09 Acres
    Added:
    Aug 5, 2022
    Days on Market:
    1402
    Last Refresh:
    Jun 6 at 4:46 am

    Property Features for Lot 24 North Shore Drive

    General Information

    Standard status
    Active
    Lot size
    10.09 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Sheri McIntosh

    Listing agent Sheri McIntosh License #2022003153

    Listing office McIntosh Real Estate Services

    Listing date Aug 5, 2022

    Source Compass

    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 McIntosh Real Estate Services

    HighLights

    • 10.09‑acre commercial lot in an area of other commercial properties
    • Water views of Rocky Fork Lake
    • Public water and sewer available at the street
    • Spectrum internet available

    Overview

    This offering is a 10.09-acre commercial lot with water views of Rocky Fork Lake. The property is positioned for development as part of an area that includes other commercial properties.

    Public water and sewer are available at the street, supporting utility hookups for prospective site improvements. Spectrum Internet service is also available. The lot’s waterfront setting provides the lake-view backdrop for a variety of commercial development concepts.

    For buyers and developers, the site’s combination of commercial area positioning and access to public utilities at the street can help streamline early planning and feasibility work. Interested parties should verify all site-specific development requirements and any applicable approvals for their intended commercial use.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Gym & Fitness Center Daycare Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Chillicothe
    County
    Ross
    State
    Ohio
    Longitude
    -83.0130894
    Latitude
    39.3223126

    Nearby Similar for Sale

    • $159,900
      1,496 SF

      High-Traffic Commercial Property on Main

      Versatile commercial building in Chillicothe with high visibility.
      945 E Main Street, Chillicothe, OH 45601
      View Details
    • $525,000

      Flat Undeveloped Commercial Land

      A 3.72-acre flat parcel with dual access points, offering a flexible site for commercial development in Chillicothe.
      Pawnee Road, Chillicothe, OH 45601
      View Details
    • $399,000
      1,848 SF

      Renovated Commercial Property on Western

      Updated commercial property on Western Avenue in Chillicothe, Ohio.
      2111 Western Ave., Chillicothe, OH 45601
      View Details
    • $650,000

      Riverfront Recreation Land Parcel

      Mostly level river-view land with a shelter house, fire pit area, and gazebo for flexible recreational development.
      N Bridge Street, Chillicothe, OH 45601
      View Details
    • $550,000
      5,244 SF

      Main Street Investment Opportunity

      High-visibility commercial building with established tenants in a prime location.
      946-954 E Main Street, Chillicothe, OH 45601
      View Details
    • $569,000
      2,400 SF

      Equestrian Estate Near Chillicothe

      11.8-acre mini equestrian estate with barn and fencing.
      141 Delano Rd., Chillicothe, OH 45601
      View Details
    • $990,000

      Ross County Vacant Land Opportunity

      Large tract of land known for trophy whitetail deer.
      0 Baptist Hill Rd, Chillicothe, OH 45601
      View Details
    • $214,900
      2,200 SF

      Downtown Chillicothe Mixed-Use Building

      Versatile building in historic downtown Chillicothe with retail and residential/office potential.
      13 W 2ND ST, Chillicothe, OH 45602
      View Details
    • $119,900

      Duplex Investment with Carport

      Two one-bedroom, one-bath units with off-street carport parking make this duplex a solid owner-occupied or rental option.
      24 Leggett Avenue, Chillicothe, OH 45601
      View Details
    • $650,000
      4,832 SF

      Renovated Mixed-Use Building For Sale

      Renovated mixed-use building with high visibility and ample parking.
      7 Saint Andrews Blvd, Chillicothe, OH 45601
      View Details
    • $110,000

      Land Near Dogwood Hills Golf

      5.29 acres near golf course with lake access.
      1588 Debord Road, Chillicothe, OH 45601
      View Details
    • $214,900
      2,200 SF

      Downtown Chillicothe Mixed-Use Investment

      Versatile building in historic Union Block with retail and residential potential.
      11 W 2ND ST, Chillicothe, OH 45601
      View Details

    FAQs

    What type of property is this?
    Commercial land - Develop a commercial use on a waterfront lot with public water and sewer available at the street.
    Where is this commercial land located?
    The property is located at Lot 24 North Shore Drive Chillicothe, OH.
    What is the asking price?
    The asking price for this property is $399,900.
    What are key features of this property?
    This property features: 10.09‑acre commercial lot in an area of other commercial properties; Water views of Rocky Fork Lake; Public water and sewer available at the street
    (937) 302-8810
    We can help!
    Listing Contact
    Sheri McIntosh
    Real Estate License ID: 2022003153
    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

    Thank You for Inquiry
    Lot 24 North Shore Drive, Chillicothe, OH 45601
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!