Remodeled Restaurant
1315 Cleveland Avenue Ashland, OH 44805
For Sale
$395,000
COMMERCIAL - Ashland, OH
Property Size1,478 SF
Lot Size0.41 Acres
Price / SF$267.25
Days on Market90
Property Features for 1315 Cleveland Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Standard status
- Active
- APN
- P43-025-0-0086-01
- Lot size
- 0.41 Acres
Taxes and HOA fees
- Tax Description
- 1315 CLEVELAND AVER= 25 P
- Tax Annual Amount
- 1608
Utilities
- Heating system
- Forced Air, Natural Gas
Building Details
- Year built
- 1976
- Roof type
- Metal
Listing Agency:
Howard Hanna Real Estate Services- Mohican Office
(419) 920-4100
Listed By:
Tracy Kauffman
(330) 231-4044
Added: Apr 25
Changed: Jul 23
Last Checked: Jul 23 at 11:06PM
MLS# 10231004
Copyright © 2026 Mansfield Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This fully remodeled former restaurant property offers a turnkey foundation for foodservice concepts, with restaurant-grade equipment and existing dining area and seating remaining in place. The commercial kitchen layout, prep areas, and related infrastructure are included, along with updates such as newer HVAC, flooring, paint, and interior improvements.
The property is located at 1315 Cleveland Avenue in Ashland, OH (44805). The seller is offering both real estate and business assets together, with the option that the seller may separate the real estate and business assets.
The building is sized at 1,478 square feet and was previously operated as Holy Pepperoni A'Pizza Joint. While it is not currently operational, the improvements and built-in kitchen configuration are intended to support a range of food-focused commercial uses.
The property is located at 1315 Cleveland Avenue in Ashland, OH (44805). The seller is offering both real estate and business assets together, with the option that the seller may separate the real estate and business assets.
The building is sized at 1,478 square feet and was previously operated as Holy Pepperoni A'Pizza Joint. While it is not currently operational, the improvements and built-in kitchen configuration are intended to support a range of food-focused commercial uses.
Key Highlights
- 1,478 sq ft former restaurant building (Holy Pepperoni A'Pizza Joint) with restaurant‑grade equipment and business assets included
- Fully remodeled interior with newer HVAC plus updated flooring and paint
- Metal roof and natural gas forced‑air heating
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $22.2k | $15.00 |
| − Vacancy | −$931 | −$0.63 |
| EGI | $21.2k | $14.37 |
| − OpEx | −$5.3k | −$3.59 |
| NOI | $15.9k | $10.78 |
1,478 SF · lease $15.00/SF/yr · vacancy 4.20% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$227.6K
$199.1K – $265.5K
NOI $15,929 @ 7.0% cap · market cap 4.03%
Second Best
Industrial
$86.8K
$75.9K – $101.2K
NOI $6,073 @ 7.0% cap · market cap 1.54%
Theoretical Best
Office A
$278.9K
$244.1K – $325.4K
NOI $19,524 @ 7.0% cap · market cap 4.94%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Conventional restaurants
Similar Off Market Nearby
- Fiesta Charra — 1202 E Main St, Ashland, OH 44805
FAQs
What type of property is this?
Conventional restaurant - Former restaurant building includes a commercial kitchen layout, seating, and restaurant-grade equipment, plus newer building updates.
Where is this conventional restaurant located?
The property is located at 1315 Cleveland Avenue Ashland, OH.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 1,478 sq ft former restaurant building (Holy Pepperoni A'Pizza Joint) with restaurant‑grade equipment and business assets included; Fully remodeled interior with newer HVAC plus updated flooring and paint; Metal roof and natural gas forced‑air heating
