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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    24517 Us Hwy 23rd S Circleville, OH 43113-9192

    • Hotels
    • 31,401 SF
    • 12.74 lot acres
    OFF-MARKET
    Last Sale
    Apr 30, 2021
    $2,300,000
    Value Estimations
    $2,095,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1863850
    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

    • Hotels

    Property Details for 24517 Us Hwy 23rd S

    Year built
    1994
    Construction
    FRAME
    Lot size
    12.74 lot acres
    Property size
    31,401 SF
    Property type
    Hotels
    APN
    A34-0-001-00-299-08
    APU
    A3400010029908

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,020,000
      ML approach
      $1,765,000

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,670,000
      APARTMENT HOUSE (5+ UNITS)
      $2,310,000
      MEDICAL BUILDING
      $2,230,000
      RESTAURANT
      $2,215,000
      AUTO REPAIR, GARAGE
      $2,075,000
      COMMERCIAL (GENERAL)
      $1,950,000
      INDUSTRIAL (GENERAL)
      $1,850,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Circleville
    County
    Pickaway
    State
    Ohio
    Longitude
    -82.9552
    Latitude
    39.5733
    CBSA code
    18140
    CBSA name
    COLUMBUS, OH METROPOLITAN 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
    $27,342
    $195,480
    $401,380
    $596,860
    -
    $558,500
    $1,146,800
    $1,705,300

    Comparable in this City

    • Value Estimation
      $1,880,000
      26,240 SF

      23911 Us Hwy 23rd S

      HOTEL • 26,240 SF
      23911 Us Hwy 23rd S, Circleville, OH 43113-9003
      View Details
    • Value Estimation by Request
      2,704 SF

      163 Franklin St

      MOTEL • 2,704 SF
      163 Franklin St, Circleville, OH 43113-1613
      View Details
    • Value Estimation
      $630,000
      6,048 SF

      23897 Us Hwy 23rd S

      MOTEL • 6,048 SF
      23897 Us Hwy 23rd S, Circleville, OH 43113-9003
      View Details
    • Value Estimation by Request
      3,456 SF

      25130 Us Hwy 23rd S

      MOTEL • 3,456 SF
      25130 Us Hwy 23rd S, Circleville, OH 43113-9111
      View Details
    • Value Estimation by Request
      2,500 SF

      3269 State Rte 361

      MOTEL • 2,500 SF
      3269 State Rte 361, Circleville, OH 43113-9728
      View Details
    • Value Estimation
      $535,000
      6,776 SF

      25260 Us Hwy 23rd S

      MOTEL • 6,776 SF
      25260 Us Hwy 23rd S, Circleville, OH 43113-7562
      View Details

    Similar Nearby for Sale

    • $51,500

      Circleville Land: Build Your Dream Home

      Prime residential lot, 21,780 sq ft.
      0 Monticello St, Circleville, OH 43113
      View Details
    • New
      $225,000
      Pending

      Circleville, OH Land Available

      Approximately 5 acres of land for sale in Circleville, OH.
      Tarlton Rd, Circleville, OH 43113
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    • $195,000
      5.01 Acres

      Land with Fenced Pastures

      5+ acre lot with fencing, water, and permits.
      25415 Shoemaker Rd, Circleville, OH 43113
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    • $2,914,500
      48.58 Acres

      Prime Circleville Commercial Land

      48.58 Acres, High-Traffic Location
      25460 Us Highway 23, Circleville, OH 43113
      View Details
    • $149,900

      5-Acre Residential Building Lot in Circleville, OH

      Prime 5-acre lot, private setting, custom homes nearby.
      0 Shoemaker Rd, Circleville, OH 43113
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    • $2,025,000
      22 SF

      Development Land Near Future Facility

      22.50 acres for development near future manufacturing facility.
      N Court St, Circleville, OH 43113
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      2,525 SF

      Prime Circleville Retail Space

      Two Suites, High Visibility, Ample Parking
      509 Main St, Circleville, OH 43113
      View Details
    • $8 SF/Yr
      20,800 SF

      Office and Warehouse Space Available

      Two-story office and warehouse space for lease.
      1950 Stoneridge Dr, Circleville, OH 43113
      View Details
    • $17 SF/Yr
      3,150 SF

      Retail Space on Main Street

      Retail space with high visibility and ample parking available for lease.
      475 E Main St, Circleville, OH 43113
      View Details
    • $495,000
      3,200 SF

      Renovated Flex-Warehouse on 1.5 Acres

      Newly renovated 3,200 SF flex-warehouse on 1.5 acres for rent.
      22840 Canal Rd, Circleville, OH 43113
      View Details
    • $144 SF/Yr
      3,500 SF

      Prime Circleville Warehouse/Flex Space

      Newly renovated 3,500 sq ft industrial space
      22840 Canal Rd, Circleville, OH 43113
      View Details
    • $7,000 /Mo
      57,120 SF

      Spacious Retail Space in Circleville

      10,000 SF retail space suitable for various businesses.
      128 Morris Rd, Circleville, OH 43113
      View Details
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    Circleville, OH 43113-9192
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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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