OH
Pickaway
Circleville
43113
117 Pontious Lane
117 Pontious Lane, Circleville, OH 43113
Share Listing
Listing Type
Commercial/Industrial
Listing Status
active
50
$6,950,000

Home Details for 117 Pontious Lane

Price
$6,950,000
Type
Commercial Sale
Bedrooms
0
Bathrooms
Square feet
NaN
Year built
1978
Lot size acres
7.3939
County
Pickaway
Garage
Days on site
3
MLS Listing#
5158011
Property Description

An incredible opportunity just 25 minutes from downtown Columbus, this 90-unit apartment portfolio is located in Circleville, OH. The offering combines a stabilized asset with the ability to add value through renovations and organic rent increases. Limited supply in the area has supported high historical occupancy, and the census tracts containing the properties show median family income of more than $65,000 annually. Circleville offers strong rental demand with proximity to entertainment, employment, and southern Columbus suburbs, all within a 20–30 minute drive. The portfolio consists of six properties, all within one mile of each other for efficient management. An existing property manager and on-site maintenance staff are in place, offering a turnkey transition. Approximately 60 of the 90 units have been renovated with vinyl plank and carpet flooring, updated kitchens and bathrooms, light fixtures, and appliances, while the remaining units provide additional value-add potential. The unit mix includes 16 three-bedroom units, 36 two-bedroom units—some with 1.5 bathrooms and townhome layouts—and 38 one-bedroom units. Select units feature townhome style floor plans, exterior porches, laundry hookups, and central AC. Pro forma rents are projected at $1,250+ for three-bedroom units, $1,150+ for two-bedroom units, and $825+ for one-bedroom units, with gross monthly income potential exceeding $87,000. Additional upside can be achieved through utility and pet fees. At a 7.5% cap rate and stabilized expenses, the pro forma value of this portfolio could exceed $12 million.

Property Features
  • Heating Information
    • Natural Gas
    • Forced Air
Listing Courtesy: Russell Real Estate Services - 440-201-9850
The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listing information provided courtesy of the Northern Ohio Regional Multiple Listing Service.
Last Updated: 2025-09-19 12:45:22
Transportation
Check the walk, transit, and bike score for
Neighborhood Market Statistics
See average values in the proximity of this property
Median Listing Price
Median Days on Site
Median Square Feet
Market statistics compiled from data from YES MLS.
EXIT RIVERBEND REALTY
220 Main St, Belpre, OH 45714
Jim Richards
CA BRE: #: WVS180300267
License #: sal.2019007897
Sales Representative
Office
740 860 3555
Agent
304 210 7379
Request more details
Code: