Building Details

Year Renovated 2021

Buildings 1

Stories 1

Listing Agency: Roth Real Estate Group

Listed By: William Roth · License #OH 2001005010

Source: Crexi

Added: Mar 31 Changed: Oct 13 Last Checked: Oct 12 at 5:54PM

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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 Roth Real Estate Group

Investment Insights

Based on property information with market context.

This freestanding restaurant facility at 1256 Columbus Road includes 2,898 SF on a 0.85-acre site. The building was renovated in 2021 and contains a commercial kitchen, restaurant improvements, 50 dedicated parking spaces, and an existing drive-through lane.

The property is in Granville, Ohio, with proximity to Downtown Granville and Denison University, which has more than 2,000 students. Nearby retail and food-service operators include Kroger, CVS, McDonald’s, Taco Bell, Speedway, and Whit’s Frozen Custard. The site’s existing restaurant configuration, parking, and drive-through infrastructure support continued restaurant use without the need to develop a new building.

Key Highlights

• 2,898 SF freestanding restaurant building
• 0.85‑acre site on Columbus Road
• Existing drive‑through lane

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$33,672

Cap Rate

4.21%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$673,440 $673.4K

Cap Rate 7%

$481,029 $481.0K

Cap Rate 9%

$374,133 $374.1K

Market Conditions

NOI Build-Up for 2,898 SF

Gross rent

$63.3K $21.84/SF

− Vacancy

−$15.2K −$5.24/SF

EGI

$48.1K $16.60/SF

− OpEx

−$14.4K −$4.98/SF

NOI

$33.7K $11.62/SF

Area

Licking County, OH

Vacancy

24.00%

Lease Rate

$21.84 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$673,440

Cap Rate 7%

$481,029

Cap Rate 9%

$374,133

Alternative Uses

Best Use

Industrial

$481.0K

$420.9K – $561.2K (±1% cap)

NOI $33,672 @ 7.0% cap · market cap 4.21%

Second Best

Specialty Retail

$172.4K

$150.9K – $201.2K (±1% cap)

NOI $12,071 @ 7.0% cap · market cap 1.51%

Theoretical Best

Flex RnD

$2.33M

$2.04M – $2.72M (±1% cap)

NOI $162,921 @ 7.0% cap · market cap 20.37%

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

Property Analytics

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Open Analytics

Current Use

Ray Ray's Hog ... Restaurant Ray Ray's Supper ... Restaurant

Suggested Use

Top Pick Big Box & Wholesale Store Building Supply Auto Repair Shop HVAC Service Pharmacy Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

526

Businesses Nearby

35k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Groceries 54% Shops & Services 46%

Ross' Granville Market Groceries

18,948 visits/mo 0.5 miles

Marathon Petroleum Shops & Services

11,863 visits/mo 0.4 miles

Park National Bank Shops & Services

4,469 visits/mo 0.5 miles

Demographics for 43023, OH

14,462

Population

5,344

Households

2.7

Avg Household Size

36

Median Age

55%

College-Educated

98%

High-School Grad

49.9 sq mi

ZIP Area

290

Density / Sq Mi

$136,127

Median Household Income

$48,318

Median Earnings

$1,094

Median Rent

$428,900

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

Questions? Ask Rey

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What type of property is this? Where is this drive through 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?

Drive through restaurant - Renovated freestanding facility with commercial kitchen, dedicated parking, and an existing drive-through lane.

Where is this drive through restaurant located?

The property is located at 1256 Columbus Rd Granville, OH.

What is the asking price?

The asking price for this property is $800,000.

What are key features of this property?

This property features: 2,898 SF freestanding restaurant building; 0.85‑acre site on Columbus Road; Existing drive‑through lane