Updated Restaurant Building with
For Sale
$500,000
10804 Wilkshire Boulevard NE, Bolivar, OH 44612
CommercialSale, Bolivar, OH
Property Size3,966 SF
Lot Size1.26 Acres
Price / SF$126.07
Days on Market195
Property Features for 10804 Wilkshire Boulevard NE
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Parking
24
Subdivision
Wilkshire Hills
Elementary school district
Tuscarawas Valley LS - 7908
Middle school district
Tuscarawas Valley LS - 7908
High school district
Tuscarawas Valley LS - 7908
Directions
Route 212 NE to Wilkshire Blvd. Property is on the right.
Standard status
Active
APN
3403327000
Lot size
1.26 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
2 10 1 1.2587A
Tax Annual Amount
5435
Legal Description
2 10 1 1.2587A
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
fireplace
cathedral wood beamed ceiling
floor to ceiling windows
indoor dining area
outdoor dining area
outdoor patio with firepit
Building Details
Year built
1972
Listing Agency:
McInturf Realty
(330) 364-6648
Listed By:
Jan A McInturf · License #314352
(330) 343-7603
Added: Feb 9
Changed: Aug 20
Last Checked: Aug 23 at 9:06PM
MLS# 5189437
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 3,966-square-foot restaurant property occupies a level 1.26-acre site and includes spacious interior rooms, dining areas, restrooms, and a finished outdoor patio with a natural gas firepit. Interior improvements include fresh paint, newer wood laminate flooring, a fireplace, cathedral wood-beamed ceilings, and floor-to-ceiling windows. Five gas furnaces, four central air units, and 1,200-amp electric service support the building.
The property includes a paved parking lot with 24+/- spaces and sits adjacent to Wilkshire Hills Golf Course. Access is available to State Route 212 and I-77. Public water and public sewer serve the site. Built in 1972, the building was previously configured for winery operations and indoor and outdoor dining.
The property includes a paved parking lot with 24+/- spaces and sits adjacent to Wilkshire Hills Golf Course. Access is available to State Route 212 and I-77. Public water and public sewer serve the site. Built in 1972, the building was previously configured for winery operations and indoor and outdoor dining.
Key Highlights
- 3,966‑square‑foot restaurant building on a 1.26+/- acre level lot
- Indoor and outdoor dining areas with restrooms and a finished patio
- Natural gas firepit, fireplace, cathedral wood‑beamed ceilings, and floor‑to‑ceiling windows
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
$31,525
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
6.31%
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%
$630,500
$630.5K
Cap Rate 7%
$450,357
$450.4K
Cap Rate 9%
$350,278
$350.3K
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
$43.8K $11.04/SF
− Vacancy
−$1.8K −$0.44/SF
EGI
$42.0K $10.60/SF
− OpEx
−$10.5K −$2.65/SF
NOI
$31.5K $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%
$630,500
Cap Rate 7%
$450,357
Cap Rate 9%
$350,278
Alternative Uses
Best Use
Specialty Retail
$450.4K
$394.1K – $525.4K
NOI $31,525 @ 7.0% cap · market cap 6.31%
Second Best
—
—
no second resolved use
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
Yes
Utilities to site
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 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 - Restaurant-ready building with dining areas, restrooms, patio, and paved on-site parking.
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‑foot restaurant building on a 1.26+/- acre level lot; Indoor and outdoor dining areas with restrooms and a finished patio; Natural gas firepit, fireplace, cathedral wood‑beamed ceilings, and floor‑to‑ceiling windows
