Corner-Lot Restaurant with
For Sale
$319,500
12550 Airport Highway, Swanton, OH 43558
Commercially zoned restaurant sale including FF&E and a D-6 liquor license.
Property Size2,919 SF
Days on Market67
Property Features for 12550 Airport Highway
General Information
Standard status
Active
Size
2,919 SF
Property subtype
Retail
Site & Location
Highway Access
Yes
Road Access
Yes
Restaurant
Equipment Included
Yes
Liquor License
Yes
Additional Details
Furnished
Yes
Business Included
Yes
Land Use
commercial
Building Details
Building Size
2,919 SF
Year Built
1940
Listing Agency:
Miller Diversified
(419) 392-6835
Listed By:
Jerry Miller, CCIM · License #0000324835
Source:
Millerdiversified
Added: Jun 25
Changed: Aug 29
Last Checked: Aug 29 at 4:24PM
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 Miller Diversified
Investment Insights
Based on property information with market context.
The Haven Lounge is a restaurant property on a corner lot along Airport Highway in Swanton, Ohio. The sale includes furniture, fixtures, and equipment, together with a D-6 liquor license. The building dates to 1940 and is commercially zoned.
The property is positioned near Toledo Express Airport and the Ohio Turnpike interchange, providing access to both destinations. Its Airport Highway location places the restaurant along a regional travel corridor. The site is described as large and includes the existing restaurant improvements, with redevelopment identified as a potential consideration in addition to continued restaurant use.
The property is positioned near Toledo Express Airport and the Ohio Turnpike interchange, providing access to both destinations. Its Airport Highway location places the restaurant along a regional travel corridor. The site is described as large and includes the existing restaurant improvements, with redevelopment identified as a potential consideration in addition to continued restaurant use.
Key Highlights
- Restaurant property at 12550 Airport Highway, Swanton, OH 43558
- Corner‑lot location along Airport Highway
- Furniture, fixtures, and equipment included
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
$22,225
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
6.96%
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%
$444,500
$444.5K
Cap Rate 7%
$317,500
$317.5K
Cap Rate 9%
$246,944
$246.9K
Market Conditions
NOI Build-Up for 2,919 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
$31.5K $10.80/SF
− Vacancy
−$1.9K −$0.65/SF
EGI
$29.6K $10.15/SF
− OpEx
−$7.4K −$2.54/SF
NOI
$22.2K $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%
$444,500
Cap Rate 7%
$317,500
Cap Rate 9%
$246,944
Alternative Uses
Best Use
Specialty Retail
$317.5K
$277.8K – $370.4K
NOI $22,225 @ 7.0% cap · market cap 6.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$485.8K
$425.1K – $566.8K
NOI $34,005 @ 7.0% cap · market cap 10.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
18
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43558, OH
13,088
Population
5,703
Households
2.3
Avg Household Size
46
Median Age
19%
College-Educated
91%
High-School Grad
83.3 sq mi
ZIP Area
157
Density / Sq Mi
$74,612
Median Household Income
$40,661
Median Earnings
$925
Median Rent
$185,900
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 - Commercially zoned restaurant sale including FF&E and a D-6 liquor license.
Where is this conventional restaurant located?
The property is located at 12550 Airport Highway Swanton, OH.
What is the asking price?
The asking price for this property is $319,500.
What are key features of this property?
This property features: Restaurant property at 12550 Airport Highway, Swanton, OH 43558; Corner‑lot location along Airport Highway; Furniture, fixtures, and equipment included
