Main Street Retail-Office
For Sale
$159,900
945 E Main St, Chillicothe, OH 45601
Versatile storefront building with a large glass front and an open layout, plus numerous off-street parking spaces.
Property Size1,496 SF
Price / SF$106.89
Days on Market282
Property Features for 945 E Main St
General Information
Standard status
Active
Size
1,496 SF
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$1,126
Listing Agency:
First Capital Realty
(740) 772-5700
Listed By:
Wesley Stewart
(740) 542-0841
Source:
Exprealty
Added: Nov 27, 2025
Changed: Aug 20
Last Checked: Sep 4 at 9:57AM
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 Capital Realty
Investment Insights
Based on property information with market context.
This for-sale commercial building offers a flexible, open-concept interior with a large glass storefront designed to bring in natural light. The space presents a blank-canvas setup that can support a range of businesses, including office, retail shop, or studio use.
The property is located directly on East Main Street in Chillicothe. Numerous off-street parking spaces are available, supporting convenient access for staff, customers, and clients, with the storefront frontage positioned for signage and display visibility.
The exterior storefront and interior layout combine to create a practical retail-and-office configuration, with the option to tailor the space to the needs of the next tenant or owner-operator.
The property is located directly on East Main Street in Chillicothe. Numerous off-street parking spaces are available, supporting convenient access for staff, customers, and clients, with the storefront frontage positioned for signage and display visibility.
The exterior storefront and interior layout combine to create a practical retail-and-office configuration, with the option to tailor the space to the needs of the next tenant or owner-operator.
Key Highlights
- Commercial storefront building on East Main Street in Chillicothe
- Large glass storefront for signage and display visibility
- Large open‑concept layout with a blank‑canvas interior
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
$11,099
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
6.94%
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%
$221,980
$222.0K
Cap Rate 7%
$158,557
$158.6K
Cap Rate 9%
$123,322
$123.3K
Market Conditions
NOI Build-Up for 1,496 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
$16.5K $11.04/SF
− Vacancy
−$661 −$0.44/SF
EGI
$15.9K $10.60/SF
− OpEx
−$4.8K −$3.18/SF
NOI
$11.1K $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%
$221,980
Cap Rate 7%
$158,557
Cap Rate 9%
$123,322
Alternative Uses
Best Use
Retail
$158.6K
$138.7K – $185.0K
NOI $11,099 @ 7.0% cap · market cap 6.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$282.3K
$247.0K – $329.4K
NOI $19,762 @ 7.0% cap · market cap 12.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
222
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
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Frequently Asked Questions
What type of property is this?
Storefront property - Versatile storefront building with a large glass front and an open layout, plus numerous off-street parking spaces.
Where is this storefront property located?
The property is located at 945 E Main St Chillicothe, OH.
What is the asking price?
The asking price for this property is $159,900.
What are key features of this property?
This property features: Commercial storefront building on East Main Street in Chillicothe; Large glass storefront for signage and display visibility; Large open‑concept layout with a blank‑canvas interior
