Add Listing
    For Lease
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    202-204 S State St Harrison, OH

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Restaurant, laundromat, and retail spaces available for lease.

    Type:RETAIL
    Property size:
    2,828 SF
    Lot size:
    0.41 Acres
    Added:
    Jun 4, 2024
    Days on Market:
    696
    Last Refresh:
    Apr 5 at 11:02 pm

    Property Features for 202-204 S State St

    General Information

    Standard status
    Active
    Size
    2,828 SF
    Lot size
    0.41 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 202-204 S State St Contact us

    We can help!

    Listing Contact
    Rick Louallen
    Rick Louallen

    Listing agent Rick Louallen License #0000365995

    Listing office Coldwell Banker Realty | Ohio Indiana West Regional

    Listing date Jun 4, 2024

    Source Moodyscre

    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 Coldwell Banker Realty | Ohio Indiana West Regional

    Overview

    Turnkey Restaurant and Retail Space

    This property features a 1,357 square foot restaurant space equipped with a full stainless hood and ventilation system, ready for immediate operation. Additionally, there is a fully equipped laundromat ready to open for business, with an extra room available for potential expansion. The owner is also offering an adjacent 2,838 square foot space that was formerly a large bar with pool tables for lease. Located in the Dora District downtown, the property offers various leasing options. The owner/landlord has a drive-thru connected to the building.
    Location Intelligence

    Current Use by Public Records

    Turn key restaurants

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Harrison
    County
    Huron
    State
    Ohio
    Longitude
    -84.8197
    Latitude
    39.2607

    Nearby Similar for Lease

    • $12 SF/Yr

      New Construction Warehouse with Storage

      New industrial construction with outdoor storage, near major highways.
      7128 New Haven Rd, Harrison, OH
      View Details
    • $10 SF/Yr

      Warehouse with Office Space

      3,960 SF warehouse with office, dock, and drive-in access.
      707 Enterprise Dr, Harrison, OH
      View Details
    • $8,500/Mo

      Whitewater Township Warehouse with Docks

      Warehouse with docks and drive-in, outdoor storage available.
      6720 Kilby Rd, Harrison, OH
      View Details
    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease in Harrison, Ohio.
      10459 Harrison Ave, Harrison, OH 45030
      View Details
    • $2,750/Mo

      Harrison Flex Space with Showroom

      Flex space featuring showroom, warehouse, and fenced outdoor storage.
      10051-10053 Simonson Rd, Harrison, OH
      View Details
    • Contact for pricing

      Harrison Flex Space with Showroom

      Flex space featuring showroom, warehouse, and outdoor storage.
      10051 Simonson Rd, Harrison, OH 45030
      View Details
    • Contact for pricing

      Retail Space with High Visibility

      Retail space with ample parking and high traffic counts.
      10560 Harrison Ave, Harrison, OH 45030
      View Details

    FAQs

    What type of property is this?
    Turn key restaurant - Restaurant, laundromat, and retail spaces available for lease.
    Where is this turn key restaurant located?
    The property is located at 202-204 S State St Harrison, OH.
    What is the lease rate?
    The lease rate is $1,000 /Mo.
    What are key features of this property?
    This property features: Drive‑thru access connected to the building.; Fully equipped, ready‑to‑open laundromat with expansion room.; **1,357 sq. ft. restaurant space with full stainless hood and ventilation.**
    (513) 237-1824 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Rick Louallen
    Rick Louallen
    Real Estate License ID: 0000365995
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!