Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3 Medical Dr Chillicothe, OH 45601-8603

    • Office buildings
    • 2,682 SF
    • 0.66 lot acres
    OFF-MARKET
    Last Sale
    Dec 26, 2024
    Value Estimations
    $550,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-3088287
    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

    • Anchor Addiction and Wellness Center / Addiction Treatment Center / Medical Office
    • Tomasulo Joanne MD / Doctor
    • M. Shank / Internist
    • Madsen Daniel K DO / Doctor
    • Wenfu Chen Inc / Otolaryngologist

    Property Details for 3 Medical Dr

    Year built
    1982
    Lot size
    0.66 lot acres
    Property size
    2,682 SF
    Property type
    Office buildings
    APN
    30-54-59-073.000
    APU
    305459073000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $455,000
      6.5%
      $420,000
      7%
      $390,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $629,000
      Market price range: $258k - $629k
      AI Estimate
      $597,000
      Market price range: $227k - $598k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $455,000
      Current use
      RETAIL STORES
      $410,000
      Change: -11% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Chillicothe
    County
    Ross
    State
    Ohio
    Longitude
    -82.9737
    Latitude
    39.3506
    CBSA code
    17060
    CBSA name
    CHILLICOTHE, 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
    $7,911
    $23,100
    $111,240
    $134,340
    -
    $66,000
    $317,830
    $383,830

    Comparable in this City

    • Value Estimation by Request
      867 SF

      54 Ewing St

      PROFESSIONAL BUILDING (MULTI-STORY) • 867 SF
      54 Ewing St, Chillicothe, OH 45601-3402
      View Details
    • Value Estimation by Request
      1,164 SF

      172 Main St

      OFFICE BUILDING • 1,164 SF
      172 Main St, Chillicothe, OH 45601-2506
      View Details
    • Value Estimation by Request
      1,365 SF

      28 Mulberry St

      OFFICE BUILDING • 1,365 SF
      28 Mulberry St, Chillicothe, OH 45601-2511
      View Details
    • Value Estimation by Request
      850 SF

      63-63 12th W Second

      OFFICE BUILDING • 850 SF
      63-63 12th W Second, Chillicothe, OH 45601
      View Details
    • Value Estimation by Request
      0.08 Acres

      26 Water St

      OFFICE BUILDING • 0.08 Acres
      26 Water St, Chillicothe, OH 45601-2534
      View Details
    • Value Estimation by Request
      2,576 SF

      71 Walnut St

      OFFICE BUILDING • 2,576 SF
      71 Walnut St, Chillicothe, OH 45601
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Shovel Ready Development Site

      Development site with tax abatement, high visibility, and utility access.
      Hospital Rd, Chillicothe, OH 45601
      View Details
    • $36,000

      Historic Gazette Building Commercial Space

      Commercial space in the Historic Gazette Building, downtown Chillicothe.
      62 W Main St, Chillicothe, OH 45601
      View Details
    • $169,900
      Pending

      High-Traffic Commercial Property in Chillicothe

      Versatile commercial building on East Main Street with high visibility.
      945 E Main St, Chillicothe, OH 45601
      View Details
    • $325,000
      0.70 Acres

      Chillicothe Retail Space - Investment Opportunity

      High-traffic retail space, ample parking, US-23 proximity.
      375 Marietta Rd, Chillicothe, OH 45601
      View Details
    • $1,500,000
      7,107 SF

      Chillicothe Tire Business & Real Estate

      Turnkey Tire Shop, Established Business, Ohio
      320 Paint St, Chillicothe, OH 45601
      View Details
    • $169,900
      2,064 SF

      Westend Duplex Investment Opportunity

      Duplex with separate utilities and long-term tenants, ideal investment.
      346 Yoctangee Pkwy, Chillicothe, OH 45601
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      2,200 SF

      Chillicothe Office/Retail Space

      2,200 SF Single-Tenant Office Building
      114 Renick Ave, Chillicothe, OH 45601
      View Details
    • $15 SF/Yr
      2,750 SF

      Downtown Retail Space Available

      Prime retail space in downtown Chillicothe with high visibility.
      23 N Bridge St, Chillicothe, OH 45601
      View Details
    • $4 SF/Yr
      100,000 SF

      Industrial Space Along US 23

      Industrial property with build-to-suit options and tax abatement.
      1101 River Rd, Chillicothe, OH 45601
      View Details
    • Contact for pricing
      147,000 SF

      Zane Plaza: Chillicothe Retail Space

      Prime Chillicothe retail space available. High traffic, excellent visibility.
      1080 Bridge St, Chillicothe, OH 45601
      View Details
    • Contact for pricing
      108,029 SF

      Chillicothe Retail Land Redevelopment

      Prime 2-acre retail outparcel, high traffic.
      1334 Bridge St, Chillicothe, OH 45601
      View Details
    • Contact for pricing
      105,000 SF

      Guernsey Crossing Retail Center

      Chillicothe, OH Power Center - 105,000 SF
      159 At Seney Rd, Chillicothe, OH 45601
      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.
    3 Medical Dr
    Chillicothe, OH 45601-8603
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.