Established Tire Business For
For Sale
$350,000
394 N High St, Chillicothe, OH 45601
Well-respected tire business on a highly visible corner lot.
Property Size2,020 SF
Price / SF$173.27
Days on Market221
Property Features for 394 N High St
General Information
Standard status
Active
Size
2,020 SF
Taxes and HOA fees
Annual Taxes
$1,948
Listing Agency:
ERA Martin & Associates (C)
(740) 703-2602
Listed By:
Tammy Miller
(740) 703-2602
Source:
Exprealty
Added: Jan 21
Changed: Aug 20
Last Checked: Aug 29 at 1:43PM
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 ERA Martin & Associates (C)
Investment Insights
Based on property information with market context.
This established tire business, operating for over 45 years, is located on a highly visible corner lot, offering excellent exposure and easy access. The property features a well-maintained building of 2020 square feet, which includes a two-bay garage, a waiting room, a bathroom, and office space. Ample tire storage is available. The sale encompasses a tire inventory and essential equipment, including two tire changers, one balancer, one car lift, and an air compressor. This presents a turnkey opportunity for a new owner. The location offers opportunities for various business ventures.
Key Highlights
- Turnkey tire business opportunity with established reputation (45+ years).
- Prime corner lot location with high visibility and easy access.
- Includes substantial tire inventory and essential equipment (tire changers, balancer, lift, compressor).
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$14,986
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.28%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$299,720
$299.7K
Cap Rate 7%
$214,086
$214.1K
Cap Rate 9%
$166,511
$166.5K
Market Conditions
NOI Build-Up for 2,020 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$22.3K $11.04/SF
− Vacancy
−$892 −$0.44/SF
EGI
$21.4K $10.60/SF
− OpEx
−$6.4K −$3.18/SF
NOI
$15.0K $7.42/SF
Area
Ross County, OH
Vacancy
4.00%
Lease Rate
$11.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$299,720
Cap Rate 7%
$214,086
Cap Rate 9%
$166,511
Alternative Uses
Best Use
Retail
$214.1K
$187.3K – $249.8K
NOI $14,986 @ 7.0% cap · market cap 4.28%
Second Best
Industrial
$118.6K
$103.8K – $138.4K
NOI $8,301 @ 7.0% cap · market cap 2.37%
Theoretical Best
Office A
$381.2K
$333.5K – $444.7K
NOI $26,683 @ 7.0% cap · market cap 7.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
932
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 45601, OH
56,849
Population
23,358
Households
2.4
Avg Household Size
41
Median Age
18%
College-Educated
88%
High-School Grad
348.7 sq mi
ZIP Area
163
Density / Sq Mi
$57,430
Median Household Income
$39,973
Median Earnings
$858
Median Rent
$160,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Automotive property - Well-respected tire business on a highly visible corner lot.
Where is this automotive property located?
The property is located at 394 N High St Chillicothe, 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: Turnkey tire business opportunity with established reputation (45+ years).; Prime corner lot location with **high visibility and easy access.**; Includes substantial tire inventory and essential equipment (tire changers, balancer, lift, compressor).
