Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • 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
    Property profile & analytics

    Us Highway 23 Portsmouth, OH undefined

    • Retail properties
    • 0.40 lot acres
    For Sale
    View listing
    $2,549,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 0 Us Highway 23

    Year built
    1980
    Lot size
    0.40 lot acres
    Property type
    Retail properties
    Property subtype
    Restaurants

    Description

    This fee-simple ownership opportunity presents a 100% occupied, absolute NNN-leased KFC and Taco Bell in Portsmouth, Ohio. The property boasts a 15.7-year remaining lease term with two 5-year renewal options, featuring 7% rent increases every five years, ensuring consistent NOI growth. The 0.4-acre lot includes 32 parking spaces and is strategically located on US-23, a major retail thoroughfare with over 16,100 vehicles passing daily. The property benefits from a strong retail corridor with numerous national tenants, including Aldi, Big Lots, and Wendy's, driving significant consumer traffic. Built in 1980 and renovated in 2017, this property is zoned commercial and enjoys proximity to major employers like Southern Ohio Medical Center (over 3,000 employees) and Shawnee State University (over 3,900 students). The 5-mile trade area supports a population exceeding 29,127, with an average household income of $61,439 and an employee population of 19,388. The asking price is $2,549,000, representing a 5.75% cap rate and a net operating income (NOI) of $146,590. This management-free investment offers significant long-term value and passive income potential. The property's APN is 05-0561.000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Portsmouth
    County
    Scioto
    State
    Ohio
    Longitude
    -82.990065
    Latitude
    38.761516

    Comparable in this City

    • Value Estimation by Request
      38.99 Acres

      Tibbetts Wick Rd, OH

      NURSERY, GREENHOUSE, FLORIST • 38.99 Acres
      Tibbetts Wick Rd, OH
      View Details
    • Value Estimation by Request
      5.18 Acres

      Miami County Line Rd, OH

      NURSERY, GREENHOUSE, FLORIST • 5.18 Acres
      Miami County Line Rd, OH
      View Details
    • Value Estimation by Request
      0.25 Acres

      Kellogg Rd, OH

      DEPARTMENT STORE • 0.25 Acres
      Kellogg Rd, OH
      View Details
    • Value Estimation by Request
      1.92 Acres

      Side

      NURSERY, GREENHOUSE, FLORIST • 1.92 Acres
      Side, Trl, OH
      View Details
    • Value Estimation by Request
      1.80 Acres

      Highland Highland, OH

      RESTAURANT • 1.80 Acres
      Highland Highland, OH
      View Details
    • Value Estimation by Request
      0.12 Acres

      Nn

      RESTAURANT • 0.12 Acres
      Nn, Riv, OH
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,327 SF

      Restaurant Building For Sale

      4,327 SF restaurant building for sale in Cleveland Heights.
      3475 Fairmount Blvd, Cleveland Heights, OH
      View Details
    • $249,900
      2,148 SF

      Chardon Square Stand-Alone Building

      Stand-alone building near Chardon Square, suitable for restaurant or retail.
      107 Ctr St, Chardon, OH
      View Details
    • $700,000
      1,943 SF

      Restaurant Space on High Street

      1,943 SF restaurant on 1.52 acres for sale.
      6251 S High St, Lockbourne, OH
      View Details
    • $8,143,000
      25,684 SF

      Occupied Retail Center For Sale

      Fully occupied retail center with strong tenant mix and location.
      27100 Chagrin Blvd, Orange, OH
      View Details
    • $550,000
      3,600 SF

      Restaurant/Retail Site with Approved Plans

      0.61 acre site with approved plans for 3,600 SF building.
      5000 E Pike, Zanesville, OH
      View Details
    • Contact for pricing
      22,407 SF

      Lakewood Retail and Office Space

      Retail and office space with leased restaurant, investor opportunity.
      14810-14824 Detroit Ave, Lakewood, OH
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5,733 SF

      Former Restaurant Building on 1.43 Acres

      5,733 SF building suitable for restaurant or retail use.
      5571 Rte, Lebanon, OH
      View Details
    • Contact for pricing
      4,000 SF

      Retail Space Near Camden Woods

      Retail space available near new residential development.
      14172 Black Cherry Ct, Strongsville, OH
      View Details
    • Contact for pricing
      2,201 SF

      Restaurant Space in Shopping Center

      Second generation restaurant space in neighborhood shopping center available for rent.
      6064 Ohio 48, Maineville, OH
      View Details
    • Contact for pricing
      4,278 SF

      Retail Space in Southpark Center

      Retail space for lease in a densely populated area.
      6853-6913 W 130 St, Parma Heights, OH
      View Details
    • Contact for pricing
      2,700 SF

      Mentor Avenue Retail Spaces Available

      Retail spaces for lease near Meijer, Staples, and Walmart.
      9201 Mentor Ave, Mentor, OH
      View Details
    • Contact for pricing
      910 SF

      Retail Space in Parma Center

      Retail opportunities available in a redeveloped mixed-use power center.
      7401 W Ridgewood Dr, Parma, OH
      View Details
    Request Owner's contact information
    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.
    Us Highway 23
    Portsmouth, OH undefined
    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
    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

    Google sign-in failed. Please try again or use another login method.