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    1251 Bridge St Chillicothe, OH 45601

    Sponsored
    For Lease
    Contact for pricing

    Chillicothe, OH retail opportunity. Prime location, high traffic.

    Lot size:
    31,363 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    399
    This exceptional 0.72-acre retail pad site, located at 1251 N Bridge St in Chillicothe, Ohio (zip code 45601), presents a remarkable investment or development opportunity. Situated in the thriving Shoppes of North Bridge Street, this property benefits from its strategic location near major roadways, including Interstate 23 and Interstate 35, ensuring high visibility and accessibility. Daily traffic counts on North Bridge Street exceed 29,000 vehicles, providing substantial exposure for any business. The site is ideally positioned amongst established national retailers, including Dick's Sporting Goods, Petco, Ulta Beauty, Panda Express, Five Guys, Jersey Mike's Subs, Panera Bread, and Verizon. This strong tenant mix creates a vibrant and attractive retail environment. Furthermore, the property's proximity to significant employers, such as Adena Regional Medical Center (3,189 employees), Pixelle Specialty Solutions (2,100 employees), and Kenworth Truck (1,950 employees), all within a three-mile radius, guarantees a substantial and consistent customer base. The property is available for ground lease or build-to-suit options, offering flexibility to potential developers and tenants. This prime retail location in Ross County, Ohio, presents a unique chance to establish a successful business in a high-traffic, well-established retail center.

    Property Features for 1251 Bridge St

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    31,363 SF

    Unit(s) available at that property

    Space
    Ground Lease
    Size
    31,363 SF

    HighLights

    • 0.72‑acre retail pad site at 1251 N Bridge St, Chillicothe, OH (45601).
    • High‑traffic location in the Shoppes of North Bridge Street, with over 29,000 vehicles daily.
    • Excellent visibility and accessibility near I‑70 and I‑35.
    • Surrounded by national retailers including Dick's Sporting Goods, Petco, and others.
    • Strong local employment base within 3 miles, including Adena Regional Medical Center, Pixelle, and Kenworth.
    • Ground lease or build‑to‑suit options available.
    Property Profile Location Intelligence

    Current Use by Public Records

    JOHN D PERALTA-OLIVIERI Family Practice Physician Petco Dog Training Dog Trainer fi.d.o Pet Supply Store Flashy Nails Nail Salon Chillicothe Optometrist

    Suggested Use

    Realty agency Restaurant Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Chillicothe
    County
    Ross
    State
    Ohio
    Longitude
    -82.976008861468
    Latitude
    39.363656188337

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    Nearby Similar for Lease

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    FAQs

    What type of property is this?
    Restaurant - Chillicothe, OH retail opportunity. Prime location, high traffic.
    Where is this restaurant located?
    The property is located at 1251 Bridge St Chillicothe, OH.
    What are key features of this property?
    This property features: 0.72-acre retail pad site at 1251 N Bridge St, Chillicothe, OH (45601).; High-traffic location in the Shoppes of North Bridge Street, with over 29,000 vehicles daily.; Excellent visibility and accessibility near I-70 and I-35.
    Request Owner's contact information
    1251 Bridge St Chillicothe, OH 45601
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    Chillicothe, OH 45601
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    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.

    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
    1251 Bridge St Chillicothe, OH 45601
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