Drive-Through Restaurant
For Sale
$220,000
Pending
4825 E Main Street Columbus, Columbus, OH 43213
Standalone restaurant building with a drive-thru history on a high-traffic lot.
Property Size900 SF
Lot Size0.65 Acres
Days on Market46
Property Features for 4825 E Main Street Columbus
General Information
Standard status
Pending
Size
900 SF
Lot size
0.65 Acres
Taxes and HOA fees
Annual Taxes
$7,190
Amenities
No
0.65
900.0
Building Details
Building Size
900 SF
Year Built
1964
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 21 at 4:01AM
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 a 900 SF building located on a 105' x 270' lot and offered “AS IS” at an online public auction. The property was previously operated as a small restaurant with drive-thru business, and prior to that it was a used car lot, leaving room for a variety of commercial re-use scenarios. Showings are set to begin once the locks are changed, with additional open house dates posted as available.
The site is described as being in a high traffic area, supporting visibility and customer-oriented activity. The property’s configuration includes the standalone structure on the large lot footprint, which may be useful for drive-thru or other site-based concepts, subject to applicable approvals.
For buyers and operators seeking a flexible site with restaurant-drive experience, this property offers a straightforward starting point: a modest building and substantial lot size suitable for redevelopment planning. The listing is being sold by court order under Case No. 25 CV 8559 in Franklin County, OH, and the auction terms indicate the property is conveyed “AS IS,” so due diligence is encouraged prior to bidding.
The site is described as being in a high traffic area, supporting visibility and customer-oriented activity. The property’s configuration includes the standalone structure on the large lot footprint, which may be useful for drive-thru or other site-based concepts, subject to applicable approvals.
For buyers and operators seeking a flexible site with restaurant-drive experience, this property offers a straightforward starting point: a modest building and substantial lot size suitable for redevelopment planning. The listing is being sold by court order under Case No. 25 CV 8559 in Franklin County, OH, and the auction terms indicate the property is conveyed “AS IS,” so due diligence is encouraged prior to bidding.
Key Highlights
- As‑is standalone 900 SF building built in 1964
- 105' x 270' lot (0.65 acres) in a high‑traffic area
- Previously used as a small restaurant with drive‑thru business
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
$12,053
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
5.48%
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%
$241,060
$241.1K
Cap Rate 7%
$172,186
$172.2K
Cap Rate 9%
$133,922
$133.9K
Market Conditions
NOI Build-Up for 900 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
$17.3K $19.20/SF
− Vacancy
−$1.2K −$1.34/SF
EGI
$16.1K $17.86/SF
− OpEx
−$4.0K −$4.46/SF
NOI
$12.1K $13.39/SF
Area
Columbus, OH
Vacancy
7.00%
Lease Rate
$19.20 /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%
$241,060
Cap Rate 7%
$172,186
Cap Rate 9%
$133,922
Alternative Uses
Best Use
Specialty Retail
$172.2K
$150.7K – $200.9K
NOI $12,053 @ 7.0% cap · market cap 5.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$187.6K
$164.1K – $218.8K
NOI $13,130 @ 7.0% cap · market cap 5.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
827
Businesses Nearby
Explore this area
Business Placement
Demographics for 43213, OH
35,105
Population
17,069
Households
2.1
Avg Household Size
37
Median Age
23%
College-Educated
90%
High-School Grad
10.3 sq mi
ZIP Area
3,408
Density / Sq Mi
$53,908
Median Household Income
$37,753
Median Earnings
$1,107
Median Rent
$197,700
Median Home Value
Market
Vacancy Rate% for Retail in Columbus, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - Standalone restaurant building with a drive-thru history on a high-traffic lot.
Where is this drive through restaurant located?
The property is located at 4825 E Main Street Columbus Columbus, OH.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: As‑is standalone 900 SF building built in 1964; 105' x 270' lot (0.65 acres) in a high‑traffic area; Previously used as a small restaurant with drive‑thru business
