Updated Restaurant Building with
For Sale
$500,000
10804 Wilkshire Boulevard NE, Bolivar, OH 44612
Flexible restaurant layout with indoor and outdoor dining, restrooms, and a natural gas firepit.
Property Size3,966 SF
Lot Size1.26 Acres
Price / SF$126.07
Days on Market49
Property Features for 10804 Wilkshire Boulevard NE
General Information
Standard status
Active
Size
3,966 SF
Total Parking Spaces
24
Lot size
1.26 Acres
Additional Details
Highway Access
Yes
Patio
Yes
Amenities
fireplace
firepit
Building Details
Year Built
1972
Buildings
1
Building Size
3,966 SF
Listing Agency:
McInturf Realty
(330) 343-7603
Listed By:
Jan A McInturf · License #314352
Source:
Theacclaimedrealty
Added: Jul 13
Changed: Aug 29
Last Checked: Aug 25 at 5:36AM
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 McInturf Realty
Investment Insights
Based on property information with market context.
Built in 1972, this 3,966-square-foot restaurant property occupies a level 1.26+/- acre parcel. The interior features recently refreshed finishes, wood laminate flooring, a fireplace, cathedral wood-beamed ceilings, and floor-to-ceiling windows. Its prior winery configuration included indoor and outdoor dining areas, restrooms, and a renovated patio with a natural gas firepit.
Building systems include 5 gas furnaces, 4 central air units, and 1200-amp electric service. A paved on-site parking lot provides 24+/- spaces. The property has views toward and adjoins Wilkshire Hills Golf Course, with access to State Route 212 and I-77.
Building systems include 5 gas furnaces, 4 central air units, and 1200-amp electric service. A paved on-site parking lot provides 24+/- spaces. The property has views toward and adjoins Wilkshire Hills Golf Course, with access to State Route 212 and I-77.
Key Highlights
- 3,966 square feet on a 1.26+/- acre level lot
- Prior winery layout with indoor and outdoor dining areas and restrooms
- Renovated outdoor patio with natural gas firepit
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
$37,978
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
7.60%
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%
$759,560
$759.6K
Cap Rate 7%
$542,543
$542.5K
Cap Rate 9%
$421,978
$422.0K
Market Conditions
NOI Build-Up for 3,966 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
$63.3K $15.96/SF
− Vacancy
−$12.7K −$3.19/SF
EGI
$50.6K $12.77/SF
− OpEx
−$12.7K −$3.19/SF
NOI
$38.0K $9.58/SF
Area
Tuscarawas County, OH
Vacancy
20.00%
Lease Rate
$15.96 /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%
$759,560
Cap Rate 7%
$542,543
Cap Rate 9%
$421,978
Alternative Uses
Best Use
Office B
$542.5K
$474.7K – $633.0K
NOI $37,978 @ 7.0% cap · market cap 7.60%
Second Best
Specialty Retail
$450.4K
$394.1K – $525.4K
NOI $31,525 @ 7.0% cap · market cap 6.31%
Theoretical Best
Office A
$739.1K
$646.7K – $862.2K
NOI $51,734 @ 7.0% cap · market cap 10.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
137
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44612, OH
5,443
Population
2,296
Households
2.4
Avg Household Size
44
Median Age
31%
College-Educated
95%
High-School Grad
26.5 sq mi
ZIP Area
205
Density / Sq Mi
$84,632
Median Household Income
$43,817
Median Earnings
$792
Median Rent
$244,200
Median Home Value
Market
Vacancy Rate% for Office 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 - Flexible restaurant layout with indoor and outdoor dining, restrooms, and a natural gas firepit.
Where is this conventional restaurant located?
The property is located at 10804 Wilkshire Boulevard NE Bolivar, OH.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 3,966 square feet on a 1.26+/- acre level lot; Prior winery layout with indoor and outdoor dining areas and restrooms; Renovated outdoor patio with natural gas firepit
