Freestanding Restaurant
New
For Sale
$725,000
1134 Hebron Rd, Heath, OH 43056
The property includes B-3 zoning, drive-through service, signage, and separate entry and exit points.
Property Size2,100 SF
Price / SF$345.24
Days on Market6
Property Features for 1134 Hebron Rd
General Information
Standard status
Active
Size
2,100 SF
Property subtype
Retail
Zoning
B-3
Site & Location
Drive-Thru
Yes
Highway Access
Yes
Road Access
Yes
Amenities
building and road signage
Building Details
Building Size
2,100 SF
Year Built
1991
Buildings
1
Tenancy
Multi
Listing Agency:
Shai-Hess Commercial Real Estate
(740) 819-2673
Listed By:
Brandon Hess
(740) 819-2673
Source:
Shai-hess
Added: Aug 26
Changed: Aug 30
Last Checked: Aug 30 at 11:38PM
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 = 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
$38,269
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
5.28%
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%
$765,380
$765.4K
Cap Rate 7%
$546,700
$546.7K
Cap Rate 9%
$425,211
$425.2K
Market Conditions
NOI Build-Up for 2,100 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
$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 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%
$765,380
Cap Rate 7%
$546,700
Cap Rate 9%
$425,211
Alternative Uses
Best Use
Retail
$546.7K
$478.4K – $637.8K
NOI $38,269 @ 7.0% cap · market cap 5.28%
Second Best
Specialty Retail
$125.0K
$109.3K – $145.8K
NOI $8,747 @ 7.0% cap · market cap 1.21%
Theoretical Best
Flex RnD
$1.69M
$1.48M – $1.97M
NOI $118,059 @ 7.0% cap · market cap 16.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
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 - 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
