Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    993 State St Athens, OH 45701
    Back to Search
    Property profile & analytics

    993 State St, Athens, OH 45701

    View on Map
    • Retail properties & Spaces
    • 2.67 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Solid cash advance / Loan Service

    Property Details for 993 State St

    Lot size
    2.67 lot acres
    Property type
    Retail properties & Spaces
    Property subtype
    Life science properties

    Description

    This exceptional 2.67-acre property at 993 East State Street in Athens, Ohio (APN E030340105400), presents a unique opportunity for commercial development. Zoned for manufacturing, this prime location offers flexibility for various uses, including research and development. Its strategic position directly across from "the Market on State" mall ensures high visibility and accessibility. The property has already been surveyed into three smaller, independently sellable tracts, providing options for buyers seeking smaller acreage parcels. All city utilities are readily available at the street. This site boasts the highest city zoning designation – Manufacturing – maximizing development potential. For larger-scale projects, an adjacent 2.574-acre parcel is also available for purchase, creating a combined 5.244 acres – the largest contiguous development site on East State Street. Adding to its appeal, the property's rear boundary borders the Hockhocking Adena Bikeway, offering a desirable amenity. Detailed information is available. Asking price is $1,675,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Athens
    County
    Athens
    State
    Ohio
    Longitude
    -82.0578
    Latitude
    39.3358

    Comparable in this City

    • Value Estimation
      $620,000
      91,258 SF

      340 State St

      R&D FACILITY, LABS, PHARMA
      340 State St, Athens, OH 45701-1542
      View Details
    • Value Estimation by Request

      12220 Pleasanton Rd

      Multifamily properties
      12220 Pleasanton Rd, Athens, OH 45701
      View Details
    • Value Estimation
      $525,000
      8,000 SF

      United Ln

      DEPARTMENT STORE
      United Ln, Athens, OH 45701
      View Details
    • Value Estimation
      $775,000
      12,163 SF

      4 Carpenter St

      DEPARTMENT STORE
      4 Carpenter St, Athens, OH 45701-2518
      View Details
    • Value Estimation
      $2,255,000
      19,078 SF

      5 Ct St

      DEPARTMENT STORE
      5 Ct St, Athens, OH 45701-2440
      View Details
    • Value Estimation
      $5,465,000
      109,062 SF

      983 State St

      DEPARTMENT STORE
      983 State St, Athens, OH 45701-2117
      View Details

    Similar Nearby for Sale

    • New
      $60,000
      4.00 Acres

      Land with Pond in Athens

      4-acre lot with pond, woods, and meadow near Athens.
      4770 Enlow Rd, Athens, OH 45701
      View Details
    • $75,000

      Athens Commercial Land - River Access

      3.15 Acres, Prime Location, $75,000
      0 Columbus Rd, Athens, OH 45701
      View Details
    • Contact for pricing
      1,651 SF

      In-Town Parcel with Development Potential

      Large parcel near Ohio University with multi-family/manufacturing zoning.
      169 Mill St, Athens, OH 45701
      View Details
    • Contact for pricing

      Land for Retail Development

      Land available for retail development near Walmart Superstore.
      932 East State St, Athens, OH 45701
      View Details
    • $1,295,000
      2.67 Acres

      Prime Commercial Development Opportunity

      2.67 acre commercial property on East State Street, Athens, OH.
      E State St, Athens, OH 45701
      View Details
    • $45,000
      0.12 Acres

      Buildable Lot in Athens, OH

      Vacant lot suitable for building a home or investment property.
      22 Pratt St, Athens, OH 45701
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space for Lease

      Retail property available for lease in Athens, Ohio.
      929 East State St, Athens, OH 45701
      View Details
    • $60,000

      Freestanding Restaurant with Drive-Thru

      2,400 SF restaurant with drive-thru in Athens Mall.
      921 E State St, Athens, OH 45701
      View Details
    • $4,000 /Mo
      425,146 SF

      Land for Lease in Athens

      9.76 acres of commercial land available for lease.
      EAST State St, Athens, OH 45701
      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.
    993 State St
    Athens, OH 45701
    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

    Thank You for Inquiry
    993 State St, Athens, OH, 45701
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!