Building Details

Building Size 1,040 SF

Year Built 1890

Listing Agency: Miller Diversified Brokerage c***@millerdiversified.com Show Phone

Listed By: Chris Murphy · License #SAL.2022006382 Show Phone

Source: Thebrokerlist

Added: Jun 11 Changed: Aug 8 Last Checked: Aug 9 at 4:28AM

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Investment Insights

Based on property information with market context.

This turn-key restaurant is offered with all furniture, fixtures, and equipment included in the sale, including an asserted $15,000+ FF&E value. The kitchen is equipped with a suppressed hood system with an Ansul fire suppression feature. The property sits on a corner lot and includes a deck, supporting both dine-in service and outdoor seating.

The restaurant is located in downtown Lyons with proximity to the commercial corridor. It also benefits from placement along a heavily traveled route serving popular Irish Hills Lake and surrounding lake communities, including Devils Lake, Wamplers Lake, and Lake Hudson, which can support steady visibility to passing traffic.

For buyers seeking a ready-to-operate foodservice concept, the combination of included FF&E and the installed suppressed hood/Ansul system can reduce near-term setup and equipment sourcing. The corner-lot positioning and deck provide practical flexibility for front-of-house presentation, making it well suited to operators looking to open or expand without rebuilding core restaurant infrastructure.

Key Highlights

• Turn‑key downtown restaurant with all FF&E included in the sale ($15,000+ value)
• Suppressed hood system (Ansul) included
• Corner lot with deck

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

$7,919

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

5.11%

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%

$158,380 $158.4K

Cap Rate 7%

$113,129 $113.1K

Cap Rate 9%

$87,989 $88.0K

Market Conditions

NOI Build-Up for 1,040 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

$11.2K $10.80/SF

− Vacancy

−$674 −$0.65/SF

EGI

$10.6K $10.15/SF

− OpEx

−$2.6K −$2.54/SF

NOI

$7.9K $7.61/SF

Area

Fulton County, OH

Vacancy

6.00%

Lease Rate

$10.80 /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%

$158,380

Cap Rate 7%

$113,129

Cap Rate 9%

$87,989

Alternative Uses

Best Use

Specialty Retail

$113.1K

$99.0K – $132.0K (±1% cap)

NOI $7,919 @ 7.0% cap · market cap 5.11%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$173.1K

$151.5K – $201.9K (±1% cap)

NOI $12,116 @ 7.0% cap · market cap 7.82%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Conventional restaurants

Suggested Use

Top Pick Electrical Service Furniture & Home Goods Grocery & Convenience Store Auto Repair Shop Hair Salon Nail Salon

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

Turnkey business

Opportunity

Yes

Commercial hood

Location Intelligence

Trade Area within ½ mile

48

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 43533, OH

1,509

Population

675

Households

2.2

Avg Household Size

42

Median Age

13%

College-Educated

98%

High-School Grad

23.3 sq mi

ZIP Area

65

Density / Sq Mi

$63,333

Median Household Income

$41,602

Median Earnings

$900

Median Rent

$169,800

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

Questions? Ask Rey

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What type of property is this? Where is this conventional restaurants located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Conventional restaurant - Turn-key downtown restaurant with included FF&E and a suppressed hood system for streamlined operations.

Where is this conventional restaurant located?

The property is located at 125 N Adrian St Lyons, OH.

What is the asking price?

The asking price for this property is $155,000.

What are key features of this property?

This property features: Turn‑key downtown restaurant with all FF&E included in the sale ($15,000+ value); Suppressed hood system (Ansul) included; Corner lot with deck