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    24955 Us Highway 23 S Circleville, OH 43113
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    24955 Us Highway 23 S Circleville, OH 43113

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    • Retail space
    • 2,183 SF
    • 1.21 lot acres
    For Sale
    $550,000
    View Listing →
    High-Visibility Commercial Building on Highway For Sale
    $550,000
    2,183 SF

    High-Visibility Commercial Building on Highway

    2,183 sq ft commercial building on 1.2-acre lot.

    24955 US Highway 23 S, Circleville, OH 43113
    View Listing
    Property ID
    US66-0951932
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail space

    Property Details for 24955 Us Highway 23 S

    Year built
    1984
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.21 lot acres
    Property size
    2,183 SF
    Property type
    Retail space
    APN
    A34-0-001-00-303-00
    APU
    A3400010030300

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Circleville
    County
    Pickaway
    State
    Ohio
    Longitude
    -82.9554
    Latitude
    39.5675
    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
    $4,741
    $55,200
    $48,300
    $103,500
    -
    $157,700
    $138,000
    $295,700

    Comparable in this City

    • Value Estimation by Request
      1,632 SF

      121 Main St

      RETAIL STORES (PERSONAL SERVICES) • 1,632 SF
      121 Main St, Circleville, OH 43113-1725
      View Details
    • Value Estimation by Request
      2,784 SF

      130 Main St

      RETAIL STORES (PERSONAL SERVICES) • 2,784 SF
      130 Main St, Circleville, OH 43113-1620
      View Details
    • Value Estimation by Request
      4,000 SF

      10396 State Rte 56th E

      RETAIL STORES (PERSONAL SERVICES) • 4,000 SF
      10396 State Rte 56th E, Circleville, OH 43113-9748
      View Details
    • Value Estimation by Request
      1,836 SF

      1490 Progress Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 1,836 SF
      1490 Progress Pkwy, Circleville, OH 43113-7568
      View Details
    • Value Estimation by Request
      6,804 SF

      114 Ct St

      RETAIL STORES (PERSONAL SERVICES) • 6,804 SF
      114 Ct St, Circleville, OH 43113-1612
      View Details
    • Value Estimation by Request
      5,152 SF

      116 High St

      RETAIL STORES (PERSONAL SERVICES) • 5,152 SF
      116 High St, Circleville, OH 43113-1722
      View Details

    Similar Nearby for Sale

    • $424,900
      0.17 Acres

      Mixed-Use Building in Circleville, OH

      Two-story building with apartments and commercial space for sale.
      1002 S Court St, Circleville, OH 43113
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    • Contact for pricing
      2,183 SF

      High-Visibility Commercial Building on Highway

      2,183 sq ft commercial building on 1.2-acre lot.
      24955 Us Highway 23 S, Circleville, OH 43113
      View Details
    • Contact for pricing
      350 SF

      High Traffic Corner Redevelopment Site

      1.34 acre redevelopment site with high traffic volume.
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    • $625,000
      6,820 SF

      High-Traffic Circleville Mixed-Use

      Prime location, high visibility, development potential.
      1211 Court St, Circleville, OH 43113
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      Industrial Land on Tarlton Road

      92.45 acres of industrial land in Pickaway County.
      612 Tarlton Rd, Circleville, OH 43113
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    • $3,255,000

      Land Available in Pickaway County

      Land for sale in Pickaway County, Ohio.
      612 Tarlton Rd, Circleville, OH 43113
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    Similar Nearby for Lease

    • $3,500 /Mo
      57,120 SF

      Circleville Retail Space Available

      5,000 SF retail space for lease in Circleville, OH.
      120 Morris Rd, 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
    • $18 SF/Yr
      1,314 SF

      Retail Space on Main Street

      Retail space available for lease on Main Street.
      509-513 E Main St, 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
    • Contact for pricing

      Retail Spaces Available For Lease

      Two retail spaces available in a convenient location.
      509 E Main St, Circleville, OH 43113
      View Details
    • Contact for pricing

      Retail Space in Circleville, Ohio

      Retail space anchored by Big Lots, near fairgrounds.
      201 Lancaster Pike, Circleville, OH 43113
      View Details
    View Listing
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    24955 Us Highway 23 S
    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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