Restaurant With Banquet Room And
For Sale
$799,900
110 S Broadway Street, New Philadelphia, OH 44663
CommercialSale, New Philadelphia, OH
Property Size2,835 SF
Lot Size0.24 Acres
Price / SF$282.15
Days on Market234
Property Features for 110 S Broadway Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Elementary school district
New Philadelphia CSD - 7906
Middle school district
New Philadelphia CSD - 7906
High school district
New Philadelphia CSD - 7906
Directions
Corner of West High & South Broadway in the Square of New Philadelphia
Standard status
Active
APN
4304697000
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
MID 151 N END 152 .244A
Tax Annual Amount
4903
Legal Description
MID 151 N END 152 .244A
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
office
banquet room
stage
separate bar
storage sheds
Building Details
Year built
1910
Listing Agency:
McInturf Realty
(330) 364-6648
Listed By:
Jan A McInturf · License #314352
(330) 343-7603
Added: Jan 13
Changed: Aug 20
Last Checked: Sep 4 at 2:06AM
MLS# 5182417
Copyright © 2026 MLS Now. 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 2,835-square-foot restaurant property includes a fully equipped kitchen, dining area, office, banquet room with stage, and separate bar. A full second floor adds additional interior space, while the rear parking lot includes two storage sheds. The building dates to 1910 and is served by public water, public sewer, natural gas heat, and central air conditioning.
Recent improvements include oak hardwood flooring installed in 2024, updated LED kitchen lighting, updated monitors, and a new walk-in cooler. The property also includes a D-1 liquor license. Located on South Broadway Street in New Philadelphia, the restaurant is positioned in the square and has a refreshed exterior.
Recent improvements include oak hardwood flooring installed in 2024, updated LED kitchen lighting, updated monitors, and a new walk-in cooler. The property also includes a D-1 liquor license. Located on South Broadway Street in New Philadelphia, the restaurant is positioned in the square and has a refreshed exterior.
Key Highlights
- 2,835 SF restaurant building with kitchen, dining area, office, banquet room, stage, and separate bar
- D‑1 liquor license included
- Oak hardwood floors installed in 2024
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
$22,535
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
2.82%
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%
$450,700
$450.7K
Cap Rate 7%
$321,929
$321.9K
Cap Rate 9%
$250,389
$250.4K
Market Conditions
NOI Build-Up for 2,835 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
$31.3K $11.04/SF
− Vacancy
−$1.3K −$0.44/SF
EGI
$30.0K $10.60/SF
− OpEx
−$7.5K −$2.65/SF
NOI
$22.5K $7.95/SF
Area
Tuscarawas County, OH
Vacancy
4.00%
Lease Rate
$11.04 /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%
$450,700
Cap Rate 7%
$321,929
Cap Rate 9%
$250,389
Alternative Uses
Best Use
Specialty Retail
$321.9K
$281.7K – $375.6K
NOI $22,535 @ 7.0% cap · market cap 2.82%
Second Best
Industrial
$132.9K
$116.3K – $155.0K
NOI $9,302 @ 7.0% cap · market cap 1.16%
Theoretical Best
Office A
$528.3K
$462.3K – $616.4K
NOI $36,981 @ 7.0% cap · market cap 4.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
765
Businesses Nearby
54k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 98%
Home Improvements & Furnishings 2%
Speedway
Shops & Services
20,780 visits/mo
0.2 miles
Speedway
Shops & Services
13,826 visits/mo
0.2 miles
Huntington Bank
Shops & Services
8,347 visits/mo
0.1 miles
Chase Bank
Shops & Services
5,013 visits/mo
0.1 miles
PNC Bank
Shops & Services
3,243 visits/mo
0.2 miles
Demographics for 44663, OH
25,601
Population
11,702
Households
2.2
Avg Household Size
43
Median Age
21%
College-Educated
91%
High-School Grad
96.2 sq mi
ZIP Area
266
Density / Sq Mi
$62,383
Median Household Income
$36,495
Median Earnings
$859
Median Rent
$177,100
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Established restaurant property with a full-service kitchen, dining room, banquet area, separate bar, and rear parking.
Where is this conventional restaurant located?
The property is located at 110 S Broadway Street New Philadelphia, OH.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: 2,835 SF restaurant building with kitchen, dining area, office, banquet room, stage, and separate bar; D‑1 liquor license included; Oak hardwood floors installed in 2024
