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    Property profile & analytics

    120 Main St Russells Point, OH 43348

    • Retail space
    • 10,004 SF
    • 2.06 lot acres
    OFF-MARKET
    Last Sale
    Dec 12, 2024
    $1,480,000
    Value Estimations
    $1,465,000
    Show details
    Cap Rate Potential
    2.6%
    Retail space
    Location Intelligence
    Property ID
    US66-4904782
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Retail space

    Property Details for 120 Main St

    Year built
    1995
    Lot size
    2.06 lot acres
    Property size
    10,004 SF
    Property type
    Retail space
    APN
    52-032-09-06-010-006
    APU
    520320906010006

    Description

    This exceptional 10,004-square-foot retail space, located at 120 W Main St in Russells Point, Ohio, presents a significant opportunity for businesses seeking a prominent location. The property, a former Rite Aid, boasts a single-tenant occupancy and sits on a generous 2.08-acre lot. Built in 1995, the building is entirely vacant, offering a blank canvas for a new tenant to customize and develop. The property's address is 120 W Main St, Russells Point, OH 43348, within Logan County. Its convenient location offers excellent visibility and accessibility for customers. The substantial square footage provides ample space for a variety of retail uses, allowing for expansive layouts and efficient operations. The large lot size provides ample parking and potential for future expansion or outdoor amenities. This property is available for lease and represents a rare opportunity to establish a strong presence in a thriving community. The building's existing infrastructure provides a solid foundation for immediate occupancy, minimizing upfront investment costs. Interested parties are encouraged to explore the potential of this prime retail location. The property's location in Logan County, Ohio, offers access to a strong local market and regional transportation networks. This is an ideal opportunity for a business seeking a high-visibility location with significant space to grow.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,480,000
      ML approach
      $1,480,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $930,000
      Market price range: $340k - $930k
      AI Estimate
      $1,342,000
      Market price range: $421k - $1.34M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Russells Point
    County
    Logan
    State
    Ohio
    Longitude
    -83.8956
    Latitude
    40.4732
    CBSA code
    13340
    CBSA name
    BELLEFONTAINE, OH MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $22,101
    $147,920
    $304,690
    $452,610
    -
    $422,630
    $870,550
    $1,293,180

    Comparable in this City

    • Value Estimation
      $255,000
      480 SF

      230 State Rte 708

      RETAIL STORES (PERSONAL SERVICES) • 480 SF
      230 State Rte 708, Russells Point, OH 43348-9602
      View Details
    • Value Estimation
      $255,000
      2,088 SF

      204 Lincoln Blvd

      RETAIL STORES (PERSONAL SERVICES) • 2,088 SF
      204 Lincoln Blvd, Russells Point, OH 43348-9681
      View Details
    • Value Estimation
      $305,000
      15,645 SF

      7992 State Rte 366

      RETAIL STORES (PERSONAL SERVICES) • 15,645 SF
      7992 State Rte 366, Russells Point, OH 43348-9530
      View Details
    • Value Estimation
      $240,000
      0.09 Acres

      R 366

      RETAIL STORES (PERSONAL SERVICES) • 0.09 Acres
      R 366, Russells Point, OH 43348
      View Details
    • Value Estimation
      $255,000
      1,292 SF

      R 366

      RETAIL STORES (PERSONAL SERVICES) • 1,292 SF
      R 366, Russells Point, OH 43348
      View Details
    • Value Estimation
      $260,000
      2,500 SF

      R 366

      RETAIL STORES (PERSONAL SERVICES) • 2,500 SF
      R 366, Russells Point, OH 43348
      View Details

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    120 Main St
    Russells Point, OH 43348
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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.

    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
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