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

    24955 Us Highway 23 S Circleville, OH 43113

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    2,183 sq ft commercial building on 1.2-acre lot.

    Property size:
    2,183 SF
    Lot size:
    1.21 Acres

    Property Features for 24955 Us Highway 23 S

    General Information

    Standard status
    Active
    Size
    2,183 SF
    Lot size
    1.21 Acres

    Building Details

    Year built
    1984

    We can help!

    Listing Contact
    Michelle L Stevenson
    Source: Crexi

    Listing Agency: M3K Real Estate Network Inc. Listing Agent: Michelle L Stevenson

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

    Learn more

    Overview

    High-Visibility Commercial Building on Highway

    This 2,183 sq ft commercial building is positioned in a high-traffic corridor with a traffic study showing over 33,000 vehicles per day. Situated on a 1.2-acre lot with over 80 parking spaces, the property provides ample parking and easy access. The property was formerly a KFC restaurant with a drive-through and later a Nourse Auto Dealership. Recent upgrades include a new roof and HVAC system in 2024, along with new flooring, doors, trim, and fresh paint. The current layout features a welcoming lobby, three private offices, an open workspace, a large conference room, an additional oversized office, and two restrooms. The property has excellent street exposure and multiple advertising signage opportunities. It is suited for a range of business uses, including a restaurant, auto dealership, daycare, spa, medical office, professional services, or other retail or office uses.
    Location Intelligence

    Current Use by Public Records

    Drive through restaurants

    Suggested Use

    Restaurant Building Supply Gym & Fitness Center Big Box & Wholesale Store Department Store Auto Repair Shop Food Market Grocery & Convenience Store Hotel & Motel Nursing Home

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

    Location Insight

    • Map
    • Local Demand
    City
    Circleville
    County
    Pickaway
    State
    Ohio
    Longitude
    -82.954233
    Latitude
    39.566315

    Nearby Similar for Sale

    • $424,900
      0.17 Acres

      Mixed-Use Building in Circleville, OH

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

      Circleville Duplex with Income Potential

      Corner lot duplex, rehabbed in 2021-2022, ideal for investors.
      837 Clinton St, Circleville, OH 43113
      View Details
    • $159,900
      0.09 Acres

      Remodeled Duplex in Circleville, OH

      Fully remodeled 2-unit duplex, perfect for investment or owner-occupation.
      209 Huston St, Circleville, OH 43113
      View Details
    • $499,000
      350 SF

      Prime Circleville Retail Space

      High-traffic location, 350 sq ft retail space. Great investment opportunity.
      18060 Us Highway 23, Circleville, OH 43113
      View Details
    • $625,000
      6,820 SF

      High-Traffic Circleville Mixed-Use

      Prime location, high visibility, development potential.
      1211 Court St, Circleville, OH 43113
      View Details
    • Contact for pricing
      2,200 SF

      Established White Castle Restaurant For Sale

      2,200 SF White Castle on US Highway 23.
      24599 Us Highway 23 S, Circleville, OH 43113
      View Details
    • New
      Contact for pricing

      Versatile Two-Unit Property

      Two-unit property with commercial/residential zoning and recent updates.
      208 N Scioto St, Circleville, OH 43113
      View Details
    • Contact for pricing

      Duplex on Corner Lot

      Duplex with flexible living or income potential, rehabbed in 2021-2022.
      837 Clinton St, Circleville, OH 43113
      View Details
    • Contact for pricing
      3,200 SF

      Circleville Flex-Warehouse Opportunity

      Renovated 3,200 sq ft, 0.74 acres
      22840 Canal Rd, Circleville, OH 43113
      View Details
    • Contact for pricing

      Circleville Duplex Investment Opportunity

      Duplex for immediate cash flow and investment growth.
      231-233 Logan St, Circleville, OH 43113
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - 2,183 sq ft commercial building on 1.2-acre lot.
    Where is this mixed-use property located?
    The property is located at 24955 Us Highway 23 S Circleville, OH.
    What are key features of this property?
    This property features: - High-visibility location with 33,000+ vehicles per day traffic count.; - Large 1.2-acre lot with 80+ parking spaces.; - Recent upgrades including **new roof and HVAC system (2024)**.
    Request Owner's contact information
    24955 Us Highway 23 S Circleville, OH 43113
    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.
    24955 Us Highway 23 S
    Circleville, OH 43113
    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
    24955 Us Highway 23 S Circleville, OH 43113
    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

    We can help!
    Listing Contact
    Michelle L Stevenson
    Real Estate License ID: 2021006008
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!