Drive-In Convenience Store
For Sale
$365,000
132 N Ohio Avenue, Sidney, OH 45365
COMMERCIAL - Sidney, OH
Property Size1,350 SF
Price / SF$270.37
Days on Market57
Property Features for 132 N Ohio Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Directions
North on Main St., left on E. North St then left on N. Ohio Ave.
Subdivision
601 Sidney
Standard status
Active
APN
011836208001
Size
1,350 SF
Taxes and HOA fees
Tax Year
2025
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Building Details
Year built
1974
Building materials
Brick
Additional Structures
Storage
Listing Agency:
Gay Smith/Associates · RE/MAX International
(937) 497-7961
Listed By:
Gay E. Smith
(937) 497-7961
Added: Jun 26
Changed: Aug 5
Last Checked: Aug 21 at 11:06AM
MLS# 1046703
Copyright © 2026 Western Regional Information System & Technology, Inc. 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 for-sale convenience store carryout at 132 N Ohio Avenue is operated as a drive-in and walk-in business. The property includes a retail storefront configuration designed for quick convenience purchases, with an existing product mix that includes tobacco products, pop, beers and wine, and snacks. The current operating model supports year-round service, including licensed items and Sunday sales, with the business open seven days a week and most holidays. The offering is positioned as an ownership opportunity for an operator looking to continue the established service while exploring additional food options such as lunch sandwiches.
The location is described as downtown Sidney, Ohio, and the property is across the street from the post office with parking available. The remarks also reference its status as a well-known local landmark and include the store’s longstanding presence in the community.
For the right owner-operator or small retail buyer, this property provides a turn-key convenience retail format centered on grab-and-go items for both drive-in and walking customers. Because the business already handles licensed product categories and operates daily, it may appeal to a buyer seeking continuity in operations rather than starting from scratch. Interested parties should confirm all licensing and expansion possibilities directly with the seller and appropriate local authorities.
The location is described as downtown Sidney, Ohio, and the property is across the street from the post office with parking available. The remarks also reference its status as a well-known local landmark and include the store’s longstanding presence in the community.
For the right owner-operator or small retail buyer, this property provides a turn-key convenience retail format centered on grab-and-go items for both drive-in and walking customers. Because the business already handles licensed product categories and operates daily, it may appeal to a buyer seeking continuity in operations rather than starting from scratch. Interested parties should confirm all licensing and expansion possibilities directly with the seller and appropriate local authorities.
Key Highlights
- Brick building with central air and natural gas heating
- Built in 1974; public sewer connected
- Business at 132 N. Ohio Ave across the street from the post office with parking available
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
$26,359
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
7.22%
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%
$527,180
$527.2K
Cap Rate 7%
$376,557
$376.6K
Cap Rate 9%
$292,878
$292.9K
Market Conditions
NOI Build-Up for 1,350 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
$36.5K $27.00/SF
− Vacancy
−$1.3K −$0.97/SF
EGI
$35.1K $26.03/SF
− OpEx
−$8.8K −$6.51/SF
NOI
$26.4K $19.53/SF
Area
Shelby County, OH
Vacancy
3.58%
Lease Rate
$27.00 /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%
$527,180
Cap Rate 7%
$376,557
Cap Rate 9%
$292,878
Alternative Uses
Best Use
Specialty Retail
$376.6K
$329.5K – $439.3K
NOI $26,359 @ 7.0% cap · market cap 7.22%
Second Best
Retail
$143.1K
$125.2K – $166.9K
NOI $10,015 @ 7.0% cap · market cap 2.74%
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
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
577
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 45365, OH
29,277
Population
12,610
Households
2.3
Avg Household Size
41
Median Age
19%
College-Educated
89%
High-School Grad
155.7 sq mi
ZIP Area
188
Density / Sq Mi
$66,044
Median Household Income
$40,836
Median Earnings
$899
Median Rent
$173,000
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?
Grocery and convenience store - Established carryout store with drive-in and walk-in traffic, offering licensed items and all-week operating hours.
Where is this grocery and convenience store located?
The property is located at 132 N Ohio Avenue Sidney, OH.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Brick building with central air and natural gas heating; Built in 1974; public sewer connected; Business at 132 N. Ohio Ave across the street from the post office with parking available
