Conventional Restaurant
For Sale
$169,000
1016 Clay Street, Portsmouth, OH 45562
Commercial Sale, Portsmouth, OH
Property Size2,650 SF
Price / SF$63.77
Days on Market697
Property Features for 1016 Clay Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Subdivision
Portsmouth
Standard status
Active
APN
32-1526.000 32-1529.000
Size
2,650 SF
Taxes and HOA fees
Tax Description
1016 CLAY ST
Tax Annual Amount
1982
Legal Description
1016 CLAY ST
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1957
Flooring type
Concrete
Roof type
Concrete
Listing Agency:
Keller Williams Bluegrass Realty · Keller Williams Realty
(859) 260-1444
Listed By:
Timothy Angel
(740) 352-1292
Added: Oct 13, 2024
Changed: Aug 25
Last Checked: Sep 9 at 6:06AM
MLS# 152162
Copyright © 2026 Greater Portsmouth Area Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,650-square-foot commercial building was constructed in 1957 and continues to serve as a restaurant. The property is offered as real estate only, with the building and a separate parking lot positioned across the street. Concrete flooring and a concrete roof provide durable core construction, while electric heating and central air conditioning support year-round operation.
The site is served by public water and public sewer and carries Commercial zoning. The existing restaurant configuration provides a foundation for continued food-service use, subject to the buyer’s plans and applicable requirements. The sale concerns the commercial property rather than the operating business.
The site is served by public water and public sewer and carries Commercial zoning. The existing restaurant configuration provides a foundation for continued food-service use, subject to the buyer’s plans and applicable requirements. The sale concerns the commercial property rather than the operating business.
Key Highlights
- 2,650‑square‑foot commercial building
- Built in 1957 and currently configured as a restaurant
- Large parking lot located directly across the street
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$11,038
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.53%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$220,760
$220.8K
Cap Rate 7%
$157,686
$157.7K
Cap Rate 9%
$122,644
$122.6K
Market Conditions
NOI Build-Up for 2,650 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$15.3K $5.76/SF
− Vacancy
−$546 −$0.21/SF
EGI
$14.7K $5.55/SF
− OpEx
−$3.7K −$1.39/SF
NOI
$11.0K $4.17/SF
Area
Scioto County, OH
Vacancy
3.58%
Lease Rate
$5.76 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$220,760
Cap Rate 7%
$157,686
Cap Rate 9%
$122,644
Alternative Uses
Best Use
Specialty Retail
$157.7K
$138.0K – $184.0K
NOI $11,038 @ 7.0% cap · market cap 6.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$563.9K
$493.5K – $657.9K
NOI $39,476 @ 7.0% cap · market cap 23.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
508
Businesses Nearby
107k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 44%
Shops & Services 31%
Groceries 12%
Electronics 5%
Speedway
Shops & Services
18,738 visits/mo
0.4 miles
Burger King
Dining
13,972 visits/mo
0.2 miles
Aldi
Groceries
13,172 visits/mo
0.4 miles
Rally's
Dining
11,106 visits/mo
0.2 miles
Little Caesars Pizza
Dining
10,797 visits/mo
0.5 miles
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Commercially zoned restaurant property with dedicated parking across the street and existing building systems.
Where is this conventional restaurant located?
The property is located at 1016 Clay Street Portsmouth, OH.
What is the asking price?
The asking price for this property is $169,000.
What are key features of this property?
This property features: 2,650‑square‑foot commercial building; Built in 1957 and currently configured as a restaurant; Large parking lot located directly across the street
