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

    55-57 2nd St Chillicothe, OH 45601

    • Office buildings
    • 1,890 SF
    • 0.21 lot acres
    OFF-MARKET
    Value Estimations
    $240,000
    Show details
    Cap Rate Potential
    8%
    Office buildings
    Location Intelligence
    Property ID
    US66-3057282
    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

    • Office buildings

    Property Details for 55-57 2nd St

    Construction
    BRICK
    Lot size
    0.21 lot acres
    Property size
    1,890 SF
    Property type
    Office buildings
    APN
    30-54-02-020.000
    APU
    305402020000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $245,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $320,000
      6.5%
      $295,000
      7%
      $275,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $182,000
      Market price range: $182k - $444k
      AI Estimate
      $162,000
      Market price range: $160k - $421k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $320,000
      Current use
      RETAIL STORES
      $290,000
      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
    -82.9807
    Latitude
    39.3352
    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
    $2,007
    $8,030
    $26,050
    $34,080
    -
    $22,940
    $74,420
    $97,360

    Comparable in this City

    • Value Estimation
      $210,000
      1,136 SF

      25 Main St

      OFFICE BUILDING • 1,136 SF
      25 Main St, Chillicothe, OH 45601-2504
      View Details
    • Value Estimation
      $230,000
      1,270 SF

      83-85 Main St

      OFFICE BUILDING • 1,270 SF
      83-85 Main St, Chillicothe, OH 45601
      View Details
    • Value Estimation
      $300,000
      4,000 SF

      26 Paint St

      PROFESSIONAL BUILDING (MULTI-STORY) • 4,000 SF
      26 Paint St, Chillicothe, OH 45601-3202
      View Details
    • Value Estimation
      $310,000
      7,284 SF

      Watt St 7th St St

      PROFESSIONAL BUILDING (MULTI-STORY) • 7,284 SF
      Watt St 7th St St, Chillicothe, OH 45601
      View Details
    • Value Estimation
      $270,000
      7,000 SF

      1855 Western Ave

      PROFESSIONAL BUILDING (MULTI-STORY) • 7,000 SF
      1855 Western Ave, Chillicothe, OH 45601-1038
      View Details
    • Value Estimation
      $70,000
      520 SF

      221 Brg St

      OFFICE BUILDING • 520 SF
      221 Brg St, Chillicothe, OH 45601-2621
      View Details

    Similar Nearby for Sale

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      High-visibility commercial building with established tenants in a prime location.
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    • $129,900
      9.50 Acres

      Chillicothe, OH Vacant Farmland

      9.5 acres of tillable vacant farmland in Chillicothe, Ohio.
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    • $214,900
      2,200 SF

      Downtown Chillicothe Mixed-Use Investment

      Versatile building in historic Union Block with retail and residential potential.
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      Versatile Land in Chillicothe, OH

      Multi-use land with road frontage and utilities in Chillicothe.
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    Similar Nearby for Lease

    • $13 SF/Yr
      2,200 SF

      Chillicothe Office/Retail Space

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      View Details
    • Contact for pricing
      105,000 SF

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      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.
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      View Details
    • Contact for pricing
      31,363 SF

      North Bridge Street Retail Pad Site

      Chillicothe, OH retail opportunity. Prime location, high traffic.
      1251 Bridge St, Chillicothe, OH 45601
      View Details
    • Contact for pricing
      18,000 SF

      Retail Space on SR 23

      Retail space available for lease or sale on SR 23.
      1853 N Bridge St, Chillicothe, OH 45601
      View Details
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    Chillicothe, OH 45601
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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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