Operating Drive-Through
For Sale
$1,185,000
6999 E Main Street Reynoldsburg, Reynoldsburg, OH 43068
An operating drive-thru restaurant with indoor seating and an outdoor patio for added guest capacity.
Property Size3,679 SF
Price / SF$322.10
Days on Market46
Property Features for 6999 E Main Street Reynoldsburg
General Information
Standard status
Active
Size
3,679 SF
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$25,428
Amenities
No
Public
1.02
3679.0
Building Details
Building Size
3,679 SF
Year Built
1974
Stories
1
Listing Agency:
(614) 660-5959
Listed By:
Penny Ray
(614) 660-5959
Source:
Movenowohio
Added: Jul 7
Changed: Aug 8
Last Checked: Aug 8 at 8:12AM
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 Penny Ray
Investment Insights
Based on property information with market context.
This sale includes the real estate, building, and improvements for an operating restaurant with drive-through service. The property offers seating for about 100 guests, along with an outside patio area that can seat approximately 40 additional patrons. A basement level of about 1,840 square feet provides extra space within the existing building.
The drive-thru is currently operational, and the restaurant is still operating at the time of listing. Buyers should plan accordingly for showings while the business remains in operation.
For a restaurant operator, the combination of drive-through functionality and flexible guest seating can support both quick-service traffic and dine-in demand. The on-site basement area may be useful for back-of-house and storage needs, depending on how the operator plans to run the space. This is a for-sale opportunity for an incoming owner looking to acquire a working drive-thru restaurant facility and its associated improvements.
The drive-thru is currently operational, and the restaurant is still operating at the time of listing. Buyers should plan accordingly for showings while the business remains in operation.
For a restaurant operator, the combination of drive-through functionality and flexible guest seating can support both quick-service traffic and dine-in demand. The on-site basement area may be useful for back-of-house and storage needs, depending on how the operator plans to run the space. This is a for-sale opportunity for an incoming owner looking to acquire a working drive-thru restaurant facility and its associated improvements.
Key Highlights
- Operating drive‑thru restaurant with seating and an outdoor patio
- Seating for about 100 guests inside, plus outdoor patio seating for about 40
- Total building area: 3,679 SF; includes 1,840 SF basement
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
$52,503
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
4.43%
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%
$1,050,060
$1.1M
Cap Rate 7%
$750,043
$750.0K
Cap Rate 9%
$583,367
$583.4K
Market Conditions
NOI Build-Up for 3,679 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
$72.0K $19.56/SF
− Vacancy
−$2.0K −$0.53/SF
EGI
$70.0K $19.03/SF
− OpEx
−$17.5K −$4.76/SF
NOI
$52.5K $14.27/SF
Area
Franklin County, OH
Vacancy
2.72%
Lease Rate
$19.56 /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%
$1,050,060
Cap Rate 7%
$750,043
Cap Rate 9%
$583,367
Alternative Uses
Best Use
Specialty Retail
$750.0K
$656.3K – $875.1K
NOI $52,503 @ 7.0% cap · market cap 4.43%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
618
Businesses Nearby
Explore this area
Business Placement
Demographics for 43068, OH
59,585
Population
25,294
Households
2.4
Avg Household Size
36
Median Age
30%
College-Educated
91%
High-School Grad
19.6 sq mi
ZIP Area
3,040
Density / Sq Mi
$70,451
Median Household Income
$42,327
Median Earnings
$1,214
Median Rent
$225,500
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - An operating drive-thru restaurant with indoor seating and an outdoor patio for added guest capacity.
Where is this drive through restaurant located?
The property is located at 6999 E Main Street Reynoldsburg Reynoldsburg, OH.
What is the asking price?
The asking price for this property is $1,185,000.
What are key features of this property?
This property features: Operating drive‑thru restaurant with seating and an outdoor patio; Seating for about 100 guests inside, plus outdoor patio seating for about 40; Total building area: 3,679 SF; includes 1,840 SF basement
