Building Details

Building Size 1,888 SF

Year Built 1981

Stories 1

Listing Agency: Show Phone

Listed By: Penny Ray Show Phone

Source: Movenowohio

Added: Jul 6 Changed: Aug 8 Last Checked: Aug 9 at 5:00AM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Penny Ray

Investment Insights

Based on property information with market context.

The offering includes a turnkey restaurant opportunity with a drive-thru and carryout operation at the Glenford location. The package includes a 1,880+ square foot commercial/mixed-use building on 0.72 acres, with room for expansion or alternative use as described in the remarks.

In addition to the Glenford real estate, the sale also includes the business operations for both the Glenford and Somerset locations. The Somerset location is described as business only, with the real estate not included.

The sale is stated to include the Glenford real estate, both businesses, goodwill, recipes, and associated online and social media presence, supporting immediate continuity of operations for an owner-operator or investor as described.

Key Highlights

• Own both Montell's Pizza locations: Glenford (includes real estate) and Somerset (business only; leased space).
• Glenford location includes a 1,880+ SF commercial/mixed‑use building on 0.72 acres.
• Glenford offers a successful drive‑thru and carryout operation.

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

$23,503

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

4.09%

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%

$470,060 $470.1K

Cap Rate 7%

$335,757 $335.8K

Cap Rate 9%

$261,144 $261.1K

Market Conditions

NOI Build-Up for 1,888 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

$41.2K $21.84/SF

− Vacancy

−$9.9K −$5.24/SF

EGI

$31.3K $16.60/SF

− OpEx

−$7.8K −$4.15/SF

NOI

$23.5K $12.45/SF

Area

Perry 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%

$470,060

Cap Rate 7%

$335,757

Cap Rate 9%

$261,144

Alternative Uses

Best Use

Specialty Retail

$335.8K

$293.8K – $391.7K (±1% cap)

NOI $23,503 @ 7.0% cap · market cap 4.09%

Second Best

—

—

no second resolved use

Theoretical Best

Warehouse

$380.5K

$333.0K – $444.0K (±1% cap)

NOI $26,637 @ 7.0% cap · market cap 4.63%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Montells Pizza & Drive ... Restaurant

Suggested Use

Top Pick Auto Repair Shop Grocery & Convenience Store Hair Salon Nail Salon Gym & Fitness Center Spa & Massage Center

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

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

26

Businesses Nearby

Explore this area Business Placement

Demographics for 43739, OH

2,380

Population

918

Households

2.6

Avg Household Size

39

Median Age

17%

College-Educated

91%

High-School Grad

34.8 sq mi

ZIP Area

68

Density / Sq Mi

$100,189

Median Household Income

$44,792

Median Earnings

$1,094

Median Rent

$287,900

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

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Frequently Asked Questions

What type of property is this?

Drive through restaurant - Turnkey restaurant offering includes a drive-thru and carryout operation plus a commercial building on 0.72 acres.

Where is this drive through restaurant located?

The property is located at 103 S Main Street Glenford Glenford, OH.

What is the asking price?

The asking price for this property is $574,900.

What are key features of this property?

This property features: Own both Montell's Pizza locations: Glenford (includes real estate) and Somerset (business only; leased space).; Glenford location includes a 1,880+ SF commercial/mixed‑use building on 0.72 acres.; Glenford offers a successful drive‑thru and carryout operation.