Corner Office Building with
For Sale
$475,000
553 W 4th St, Chillicothe, OH 45601
Brick office property with flexible room configuration, accessible entry, and on-site surface parking near the OU campus.
Property Size3,850 SF
Price / SF$123.38
Days on Market20
Property Features for 553 W 4th St
General Information
Standard status
Active
Size
3,850 SF
Total Parking Spaces
37
Taxes and HOA fees
Annual Taxes
$5,615
Amenities
Partially finished walkout basement
Handicap accessible
Building Details
Buildings
1
Construction
brick
Listing Agency:
First Group Realty
(740) 775-0000
Listed By:
James Delong
(740) 649-2316
Source:
Exprealty
Added: Aug 17
Changed: Sep 4
Last Checked: Sep 4 at 2:53PM
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 First Group Realty
Investment Insights
Based on property information with market context.
This 3,850-square-foot brick office building occupies the corner of Pohlman and 4th Streets in Chillicothe. The interior includes one expansive room, 10 office or conference rooms, and a partially finished walkout basement. Handicap accessibility supports a range of office users, while four newer furnaces and four central air units provide building systems for the existing layout.
A blacktop parking lot offers 37 spaces. The property is located across from the OU campus and was previously used as a church, with a configuration that includes both open and divided areas. Its address is 553 W 4th St, Chillicothe, OH.
A blacktop parking lot offers 37 spaces. The property is located across from the OU campus and was previously used as a church, with a configuration that includes both open and divided areas. Its address is 553 W 4th St, Chillicothe, OH.
Key Highlights
- 3,850‑square‑foot brick office building at the corner of Pohlman and 4th Streets
- 10 office or conference rooms plus one large open room
- Partially finished walkout basement
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
$36,868
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
7.76%
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%
$737,360
$737.4K
Cap Rate 7%
$526,686
$526.7K
Cap Rate 9%
$409,644
$409.6K
Market Conditions
NOI Build-Up for 3,850 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
$61.4K $15.96/SF
− Vacancy
−$12.3K −$3.19/SF
EGI
$49.2K $12.77/SF
− OpEx
−$12.3K −$3.19/SF
NOI
$36.9K $9.58/SF
Area
Ross County, OH
Vacancy
20.00%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
25.00%
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%
$737,360
Cap Rate 7%
$526,686
Cap Rate 9%
$409,644
Alternative Uses
Best Use
Office B
$526.7K
$460.9K – $614.5K
NOI $36,868 @ 7.0% cap · market cap 7.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$726.5K
$635.7K – $847.6K
NOI $50,857 @ 7.0% cap · market cap 10.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
258
Businesses Nearby
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 Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Brick office property with flexible room configuration, accessible entry, and on-site surface parking near the OU campus.
Where is this office building located?
The property is located at 553 W 4th St Chillicothe, OH.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 3,850‑square‑foot brick office building at the corner of Pohlman and 4th Streets; 10 office or conference rooms plus one large open room; Partially finished walkout basement
