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Building Details

Building Size 2,100 SF

Year Built 1991

Buildings 1

Tenancy Multi

Listing Agency: SHAI-Hess Commercial Real Estate

Listed By: Brandon Hess Show Phone

Source: Shai-hess

Added: Aug 26 Changed: Oct 2 Last Checked: Oct 14 at 9:27PM

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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 SHAI-Hess Commercial Real Estate

Investment Insights

Based on property information with market context.

This 2,100 SF freestanding building was constructed in 1991 and is arranged as two restaurant suites. The property includes a drive-through, building and road signage, and separate entrances and exits connecting to SR-79, also known as Hebron Road. One suite is expected to become available soon, while the current owner-operator may either lease back its space or vacate, creating flexibility for future occupancy planning. Zoned B-3, the building offers an established restaurant configuration with independent suite layouts and dedicated vehicle circulation. The property is located at 1134 Hebron Rd in Heath, Ohio.

Key Highlights

• 2,100 SF freestanding restaurant building constructed in 1991
• Two‑suite restaurant configuration with one suite expected to become available soon
• Drive‑through service and separate entrances and exits to SR‑79

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$38,269

Cap Rate

5.28%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$765,380 $765.4K

Cap Rate 7%

$546,700 $546.7K

Cap Rate 9%

$425,211 $425.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,100 SF

Gross rent

$56.7K $27.00/SF

− Vacancy

−$2.0K −$0.97/SF

EGI

$54.7K $26.03/SF

− OpEx

−$16.4K −$7.81/SF

NOI

$38.3K $18.22/SF

Area

Licking County, OH

Vacancy

3.58%

Lease Rate

$27.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$765,380

Cap Rate 7%

$546,700

Cap Rate 9%

$425,211

Alternative Uses

Best Use

Retail

$546.7K

$478.4K – $637.8K (±1% cap)

NOI $38,269 @ 7.0% cap · market cap 5.28%

Second Best

Specialty Retail

$125.0K

$109.3K – $145.8K (±1% cap)

NOI $8,747 @ 7.0% cap · market cap 1.21%

Theoretical Best

Flex RnD

$1.69M

$1.48M – $1.97M (±1% cap)

NOI $118,059 @ 7.0% cap · market cap 16.28%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Conventional restaurants

Suggested Use

Top Pick Real Estate Agency Electrical Service Skin Care Clinic Barber Shop Daycare Center Gym & Fitness 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

Multi-tenant

Tenancy

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

297

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 43056, OH

17,479

Population

7,154

Households

2.4

Avg Household Size

44

Median Age

26%

College-Educated

93%

High-School Grad

87.0 sq mi

ZIP Area

201

Density / Sq Mi

$76,833

Median Household Income

$50,737

Median Earnings

$1,109

Median Rent

$229,900

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?

Conventional restaurant - The property includes B-3 zoning, drive-through service, signage, and separate entry and exit points.

Where is this conventional restaurant located?

The property is located at 1134 Hebron Rd Heath, OH.

What is the asking price?

The asking price for this property is $725,000.

What are key features of this property?

This property features: 2,100 SF freestanding restaurant building constructed in 1991; Two‑suite restaurant configuration with one suite expected to become available soon; Drive‑through service and separate entrances and exits to SR‑79