Waterfront Restaurant with
For Sale
$440,000
5795 N County Road 25a, Piqua, OH 45356
Commercial Sale, Piqua, OH
Property Size3,412 SF
Lot Size0.81 Acres
Price / SF$128.96
Days on Market48
Property Features for 5795 N County Road 25a
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Rooms
Dining Room
Parking
30
Patio and Porch features
Patio
Interior features
Wet Bar
Fireplace
1
Basement
Block
Appliances
Dishwasher, Gas Water Heater, Microwave, Refrigerator
Directions
Main St Piqua towards Troy to 5795
Subdivision
703 Piqua
Standard status
Active
APN
M40042870
Size
3,412 SF
Lot size
0.81 Acres
Taxes and HOA fees
Tax Year
2025
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water front features
Waterfront
Water front
1
Building Details
Year built
1922
Building materials
Block
Listing Agency:
Coldwell Banker Heritage Realtors
Listed By:
Sue Wray
(937) 665-1800
Added: Jul 23
Changed: Sep 2
Last Checked: Sep 8 at 4:06AM
MLS# 1047277
Copyright © 2026 Western Regional Information System & Technology, Inc. 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 conventional restaurant occupies 3,412 square feet on a 0.81-acre parcel and was built in 1922. The building has been remodeled with updated systems and includes a dining room, wet bar, commercial kitchen appliances, private areas for gatherings, and a fireplace. Inventory is included, excluding select personal items.
Located at 5795 N County Road 25a in Piqua, the property fronts the Great Miami River and provides views of the surrounding natural setting. A large patio extends the dining area outdoors, while public sewer, central air, and natural-gas forced-air heating support ongoing operations. The property also includes a gas water heater, dishwasher, microwave, and refrigerator.
Located at 5795 N County Road 25a in Piqua, the property fronts the Great Miami River and provides views of the surrounding natural setting. A large patio extends the dining area outdoors, while public sewer, central air, and natural-gas forced-air heating support ongoing operations. The property also includes a gas water heater, dishwasher, microwave, and refrigerator.
Key Highlights
- 3,412‑square‑foot restaurant on 0.81 acres
- Waterfront setting along the Great Miami River
- Large outdoor patio with river and nature views
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
$38,204
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
8.68%
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%
$764,080
$764.1K
Cap Rate 7%
$545,771
$545.8K
Cap Rate 9%
$424,489
$424.5K
Market Conditions
NOI Build-Up for 3,412 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
$53.2K $15.60/SF
− Vacancy
−$2.3K −$0.67/SF
EGI
$50.9K $14.93/SF
− OpEx
−$12.7K −$3.73/SF
NOI
$38.2K $11.20/SF
Area
Miami County, OH
Vacancy
4.30%
Lease Rate
$15.60 /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%
$764,080
Cap Rate 7%
$545,771
Cap Rate 9%
$424,489
Alternative Uses
Best Use
Specialty Retail
$545.8K
$477.6K – $636.7K
NOI $38,204 @ 7.0% cap · market cap 8.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$695.4K
$608.5K – $811.3K
NOI $48,678 @ 7.0% cap · market cap 11.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
59
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 45356, OH
25,106
Population
11,353
Households
2.2
Avg Household Size
41
Median Age
15%
College-Educated
89%
High-School Grad
75.5 sq mi
ZIP Area
333
Density / Sq Mi
$66,134
Median Household Income
$38,323
Median Earnings
$900
Median Rent
$144,500
Median Home Value
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 - Remodeled dining facility with private gathering areas, updated systems, and a fireplace.
Where is this conventional restaurant located?
The property is located at 5795 N County Road 25a Piqua, OH.
What is the asking price?
The asking price for this property is $440,000.
What are key features of this property?
This property features: 3,412‑square‑foot restaurant on 0.81 acres; Waterfront setting along the Great Miami River; Large outdoor patio with river and nature views
