Building Details

Building Size 2,376 SF

Buildings 1

Listing Agency: Home Equity Realty Group a***@heqrealty.com Show Phone

Listed By: Alexandria Heacock Show Phone

Source: Carolgoffrealestate

Added: Aug 22, 2025 Changed: Aug 29 Last Checked: Aug 29 at 8:47PM

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Investment Insights

Based on property information with market context.

This conventional restaurant property includes a 2,376 SF building on .44 acres spanning two parcels. The improvements contain a commercial kitchen with a CaptiveAire hood system, grease trap, walk-in cooler, prep stations, commercial refrigeration, freezers, grill, deep fryers, shelving, and an electro freeze ice cream machine. Existing equipment and the real estate are included in the sale.

The property is positioned at a signalized intersection along a State Route in Edison, OH, serving the surrounding Edison, Mount Gilead, and Marion communities. Liquor licenses covering C1, C2, and D6 classifications, with Sunday sales privileges, are included. Recent interior and exterior updates provide additional improvements to the building.

Key Highlights

• 2,376 SF building on .44 acres across two parcels
• C1, C2, and D6 liquor licenses with Sunday sales privileges
• Fully equipped commercial kitchen with CaptiveAire hood system and grease trap

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

$29,578

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

7.79%

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%

$591,560 $591.6K

Cap Rate 7%

$422,543 $422.5K

Cap Rate 9%

$328,644 $328.6K

Market Conditions

NOI Build-Up for 2,376 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

$51.9K $21.84/SF

− Vacancy

−$12.5K −$5.24/SF

EGI

$39.4K $16.60/SF

− OpEx

−$9.9K −$4.15/SF

NOI

$29.6K $12.45/SF

Area

Morrow County, OH

Vacancy

24.00%

Lease Rate

$21.84 /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%

$591,560

Cap Rate 7%

$422,543

Cap Rate 9%

$328,644

Alternative Uses

Best Use

Specialty Retail

$422.5K

$369.7K – $493.0K (±1% cap)

NOI $29,578 @ 7.0% cap · market cap 7.79%

Second Best

Industrial

$394.4K

$345.1K – $460.1K (±1% cap)

NOI $27,606 @ 7.0% cap · market cap 7.27%

Theoretical Best

Warehouse

$478.9K

$419.0K – $558.7K (±1% cap)

NOI $33,522 @ 7.0% cap · market cap 8.82%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

American Grub at the Edison ... Restaurant

Suggested Use

Top Pick Dental Office Plumbing Service (Bike/Boat/Book/etc) Store Big Box & Wholesale Store Bakery Pharmacy

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Paved road access

Yes

Commercial hood

Yes

Grease trap

Yes

Liquor license

Location Intelligence

Trade Area within ½ mile

68

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 43320, OH

1,440

Population

674

Households

2.1

Avg Household Size

45

Median Age

11%

College-Educated

96%

High-School Grad

31.6 sq mi

ZIP Area

46

Density / Sq Mi

$49,198

Median Household Income

$35,375

Median Earnings

$767

Median Rent

$133,300

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this conventional restaurants located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Conventional restaurant - Signalized State Route setting with liquor licenses and installed food-service equipment.

Where is this conventional restaurant located?

The property is located at 102 W High Street Edison, OH.

What is the asking price?

The asking price for this property is $379,900.

What are key features of this property?

This property features: 2,376 SF building on .44 acres across two parcels; C1, C2, and D6 liquor licenses with Sunday sales privileges; Fully equipped commercial kitchen with CaptiveAire hood system and grease trap