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    Property profile & analytics

    23182 Smith Hulse Rd Circleville, OH 43113

    • Commercial real estate
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-0342272
    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

    • Commercial real estate

    Property Details for 23182 Smith Hulse Rd

    Property type
    Commercial real estate

    Description

    This exceptional 90,169.2 square foot lot presents a unique opportunity for building your dream home in Circleville, Ohio. Located at 23182 Smith Hulse Road, this property offers a desirable blend of open and wooded areas, creating a tranquil and private setting. A small stream gently flows along the rear of the property, adding to its natural beauty and charm. The land is conveniently situated just north of State Route 22 and west of Route 104, providing easy access to major roadways and a reasonable commute to Columbus and surrounding communities. The property's address is 23182 Smith Hulse Road, Circleville, OH 43113, within Pickaway County. The asking price for this expansive lot is $99,000. This is an ideal location for those seeking a peaceful yet accessible build site, combining the serenity of nature with convenient access to urban amenities. The property's size and features make it perfect for a variety of building plans, allowing for ample space and privacy. Don't miss this chance to acquire this exceptional piece of land and create your perfect home.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Circleville
    County
    Pickaway
    State
    Ohio
    Longitude
    -83.033645
    Latitude
    39.5957859

    Comparable in this City

    • $195,000
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      Farm Land Ready For Plans

      5.01-acre farm/residential land with infrastructure, ready for development.
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    • $51,500

      Circleville Land: Build Your Dream Home

      Prime residential lot, 21,780 sq ft.
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      Spacious lot, ideal for residential building.
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    • $2,914,500

      Commercial Land South of Circleville

      Commercial land with extensive road frontage near US Rt 23.
      25460 S Us Highway 23, Circleville, OH 43113
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    • $99,900
      2.49 Acres

      2.49-Acre Lot in Circleville, OH

      2.49-acre lot for dream home in a country setting.
      Little Walnut Rd, Circleville, OH 43113
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    • $499,000

      Redevelopment Site on High-Traffic Corner

      1.34-acre redevelopment site with high traffic count.
      18060 Us Highway 23 N, Circleville, OH 43113
      View Details

    Similar Nearby for Sale

    • $195,000
      5.01 Acres

      Farm Land Ready For Plans

      5.01-acre farm/residential land with infrastructure, ready for development.
      25415 Shoemaker Rd, Circleville, OH 43113
      View Details
    • $51,500

      Circleville Land: Build Your Dream Home

      Prime residential lot, 21,780 sq ft.
      0 Monticello St, Circleville, OH 43113
      View Details
    • $499,000

      Redevelopment Site on High-Traffic Corner

      1.34-acre redevelopment site with high traffic count.
      18060 Us Highway 23 N, Circleville, OH 43113
      View Details
    • $2,025,000

      Development Land For Sale

      22.50 acres of land suitable for development.
      1931 N Court St, Circleville, OH 43113
      View Details
    • $99,900
      2.49 Acres

      2.49-Acre Lot in Circleville, OH

      2.49-acre lot for dream home in a country setting.
      Little Walnut Rd, Circleville, OH 43113
      View Details
    • Contact for pricing

      Circleville Land: Prime Development Site

      Spacious lot, ideal for residential building.
      119 Hayward St, Circleville, OH 43113
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
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      Prime Circleville Retail Space

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    • $144 SF/Yr
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      Prime Circleville Warehouse/Flex Space

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    • $17 SF/Yr
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      Retail Space on Main Street

      Retail space with high visibility and ample parking available for lease.
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    • $495,000
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      Renovated Flex-Warehouse on 1.5 Acres

      Newly renovated 3,200 SF flex-warehouse on 1.5 acres for rent.
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    • $8 SF/Yr
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      Office and Warehouse Space Available

      Two-story office and warehouse space for lease.
      1950 Stoneridge Dr, Circleville, OH 43113
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    • $8 SF/Yr
      73,750 SF

      Circleville Shopping Center Opportunity

      High-traffic retail space available in Circleville, OH.
      201 Lancaster Pike, Circleville, OH 43113
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    23182 Smith Hulse Rd
    Circleville, OH 43113
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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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