Established Pizza Restaurant with Real
For Sale
$234,900
13034 King Road NE, Thornville, OH 43076
Operating business includes equipment, recipes, website, social media accounts, and two parcels near Buckeye Lake.
Property Size858 SF
Lot Size0.28 Acres
Days on Market39
Property Features for 13034 King Road NE
General Information
Standard status
Active
Size
858 SF
Lot size
0.28 Acres
Property subtype
Commercial
Additional Details
Business Included
Yes
Equipment Included
Yes
Taxes and HOA fees
Annual Taxes
$2,483
Building Details
Building Size
858 SF
Year Built
1950
Listing Agency:
Howard HannaRealEstateServices
(740) 862-4700
Listed By:
Sherry L Looney · License #373901
Source:
Honnerlawrealestate
Added: Jul 23
Changed: Aug 29
Last Checked: Aug 25 at 9:18AM
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 Howard HannaRealEstateServices
Investment Insights
Based on property information with market context.
This established pizza restaurant is offered with its operating business and real estate at 13034 NE King Road, Thornville, OH 43076. The sale includes restaurant equipment, branding, operating systems, the menu, recipes, website, social media account(s), and customer base. A brand new freezer, new refrigerator, and air fryer have been added, and the sellers are willing to provide training to the next operator.
The property consists of two parcels totaling approximately 0.275 acres in the Fairfield Beach/Buckeye Lake area. Its setting near Buckeye Lake places the restaurant within a recreational area associated with boating, dining, and tourism. The site also offers potential flexibility for expanding the current business or building a home, subject to a minimum 1300 sqft home requirement and other restrictions.
The property consists of two parcels totaling approximately 0.275 acres in the Fairfield Beach/Buckeye Lake area. Its setting near Buckeye Lake places the restaurant within a recreational area associated with boating, dining, and tourism. The site also offers potential flexibility for expanding the current business or building a home, subject to a minimum 1300 sqft home requirement and other restrictions.
Key Highlights
- Established restaurant business and real estate at 13034 NE King Road, Thornville, OH 43076
- Operating pizza restaurant with equipment, branding, systems, menu, recipes, website, and social media account(s)
- Two parcels totaling approximately 0.275 acres
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
$10,681
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
4.55%
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%
$213,620
$213.6K
Cap Rate 7%
$152,586
$152.6K
Cap Rate 9%
$118,678
$118.7K
Market Conditions
NOI Build-Up for 858 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
$18.7K $21.84/SF
− Vacancy
−$4.5K −$5.24/SF
EGI
$14.2K $16.60/SF
− OpEx
−$3.6K −$4.15/SF
NOI
$10.7K $12.45/SF
Area
Perry County, OH
Vacancy
24.00%
Lease Rate
$21.84 /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%
$213,620
Cap Rate 7%
$152,586
Cap Rate 9%
$118,678
Alternative Uses
Best Use
Specialty Retail
$152.6K
$133.5K – $178.0K
NOI $10,681 @ 7.0% cap · market cap 4.55%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$172.9K
$151.3K – $201.8K
NOI $12,105 @ 7.0% cap · market cap 5.15%
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
60
Businesses Nearby
3k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Marathon Petroleum
Shops & Services
2,905 visits/mo
0.4 miles
Demographics for 43076, OH
9,145
Population
4,078
Households
2.2
Avg Household Size
46
Median Age
28%
College-Educated
93%
High-School Grad
65.2 sq mi
ZIP Area
140
Density / Sq Mi
$84,051
Median Household Income
$53,624
Median Earnings
$892
Median Rent
$274,700
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Operating business includes equipment, recipes, website, social media accounts, and two parcels near Buckeye Lake.
Where is this conventional restaurant located?
The property is located at 13034 King Road NE Thornville, OH.
What is the asking price?
The asking price for this property is $234,900.
What are key features of this property?
This property features: Established restaurant business and real estate at 13034 NE King Road, Thornville, OH 43076; Operating pizza restaurant with equipment, branding, systems, menu, recipes, website, and social media account(s); Two parcels totaling approximately 0.275 acres
