Restaurant-Ready Commercial
For Sale
$299,000
606 W Church Street Newark, Newark, OH 43055
Second-generation restaurant space with an existing kitchen, open layout, and two restrooms for flexible food-service concepts.
Property Size3,102 SF
Price / SF$96.39
Days on Market46
Property Features for 606 W Church Street Newark
General Information
Standard status
Active
Size
3,102 SF
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$4,628
Amenities
No
Public
0.51
3102.0
Building Details
Building Size
3,102 SF
Year Built
1968
Stories
1
Listing Agency:
(614) 660-5959
Listed By:
Bernice Banquaio
(614) 660-5959
Source:
Movenowohio
Added: Jul 7
Changed: Aug 14
Last Checked: Aug 21 at 4:11AM
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 Bernice Banquaio
Investment Insights
Based on property information with market context.
This commercial building at 606 W Church Street offers a second-generation restaurant setup designed for food and beverage operations. The space includes an existing kitchen, an open layout, and two restrooms, which can reduce buildout requirements compared with a non-equipped shell. The overall configuration is flexible, supporting a range of commercial uses beyond traditional dining.
The property is positioned in a high-visibility corridor near downtown Newark, Ohio, with convenient access for patrons and visitors. It also offers views of Raccoon Creek, adding a distinctive backdrop that may be appealing for customer-facing concepts.
For buyers, operators, or tenants evaluating a restaurant for sale or a commercial space with kitchen infrastructure, the existing amenities provide a practical starting point. The open layout and restroom capacity can support a restaurant, bar, or other food-service concept, while the flexible configuration also aligns with alternative uses such as retail, boutique fitness, office, event space, or a church/community gathering setting.
The property is positioned in a high-visibility corridor near downtown Newark, Ohio, with convenient access for patrons and visitors. It also offers views of Raccoon Creek, adding a distinctive backdrop that may be appealing for customer-facing concepts.
For buyers, operators, or tenants evaluating a restaurant for sale or a commercial space with kitchen infrastructure, the existing amenities provide a practical starting point. The open layout and restroom capacity can support a restaurant, bar, or other food-service concept, while the flexible configuration also aligns with alternative uses such as retail, boutique fitness, office, event space, or a church/community gathering setting.
Key Highlights
- 3,102 SF commercial building built in 1968 on a 0.51‑acre lot
- Second‑generation restaurant space with an existing kitchen
- Open layout plus 2 restrooms, supporting multiple food‑service configurations
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
$12,921
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
4.32%
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%
$258,420
$258.4K
Cap Rate 7%
$184,586
$184.6K
Cap Rate 9%
$143,567
$143.6K
Market Conditions
NOI Build-Up for 3,102 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
$17.9K $5.76/SF
− Vacancy
−$640 −$0.21/SF
EGI
$17.2K $5.55/SF
− OpEx
−$4.3K −$1.39/SF
NOI
$12.9K $4.17/SF
Area
Licking County, OH
Vacancy
3.58%
Lease Rate
$5.76 /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%
$258,420
Cap Rate 7%
$184,586
Cap Rate 9%
$143,567
Alternative Uses
Best Use
Specialty Retail
$184.6K
$161.5K – $215.4K
NOI $12,921 @ 7.0% cap · market cap 4.32%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$2.49M
$2.18M – $2.91M
NOI $174,390 @ 7.0% cap · market cap 58.32%
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
263
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43055, OH
62,590
Population
27,046
Households
2.3
Avg Household Size
40
Median Age
23%
College-Educated
92%
High-School Grad
112.7 sq mi
ZIP Area
555
Density / Sq Mi
$61,807
Median Household Income
$39,412
Median Earnings
$920
Median Rent
$185,300
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?
Conventional restaurant - Second-generation restaurant space with an existing kitchen, open layout, and two restrooms for flexible food-service concepts.
Where is this conventional restaurant located?
The property is located at 606 W Church Street Newark Newark, OH.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 3,102 SF commercial building built in 1968 on a 0.51‑acre lot; Second‑generation restaurant space with an existing kitchen; Open layout plus 2 restrooms, supporting multiple food‑service configurations
