Building Details

Building Size 3,484 SF

Year Built 1973

Year Renovated 2016

Stories 1

Listing Agency: RE/MAX Connection h***@aol.com Show Phone

Listed By: DeLena Ciamacco · License #367326 Show Phone

Source: Douglaskeycresolutions

Added: Mar 30, 2021 Changed: Oct 23 Last Checked: Oct 23 at 4:48PM

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Investment Insights

Based on property information with market context.

Built in 1973, the diner contains 3,484 square feet and accommodates about 180 guests across two dining areas, a banquet room, and bar seating. The interior was renovated in 2016. A walk-up basement provides storage and delivery access, and a drive-through window is located at the rear of the building.

The property occupies more than 1 acre at 1565 Marion Waldo Road in Marion, Ohio, along a high-traffic road. An expansive parking area provides approximately 50 spaces.

Key Highlights

• 3,484‑square‑foot diner on more than 1 acre
• Seating for approximately 180 across two dining rooms, a banquet room, and bar area
• Approximately 50 parking spaces

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$14,512

Cap Rate

3.23%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$290,240 $290.2K

Cap Rate 7%

$207,314 $207.3K

Cap Rate 9%

$161,244 $161.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,484 SF

Gross rent

$20.1K $5.76/SF

− Vacancy

−$718 −$0.21/SF

EGI

$19.3K $5.55/SF

− OpEx

−$4.8K −$1.39/SF

NOI

$14.5K $4.17/SF

Area

Marion 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 Rate 5%

$290,240

Cap Rate 7%

$207,314

Cap Rate 9%

$161,244

Alternative Uses

Best Use

Specialty Retail

$207.3K

$181.4K – $241.9K (±1% cap)

NOI $14,512 @ 7.0% cap · market cap 3.23%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$703.3K

$615.4K – $820.5K (±1% cap)

NOI $49,230 @ 7.0% cap · market cap 10.94%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Breakfast & diners

Suggested Use

Top Pick Building Supply Real Estate Agency Law Firm Hair Salon Restaurant Auto Repair Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

355

Businesses Nearby

198k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 45% Shops & Services 24% Groceries 24% Home Improvements & Furnishings 5%

Kroger Groceries

47,051 visits/mo 0.2 miles

McDonald's Dining

30,855 visits/mo 0.2 miles

Speedway Shops & Services

19,332 visits/mo 0.3 miles

Wendy's Dining

15,694 visits/mo 0.4 miles

Kroger Fuel Center Shops & Services

13,228 visits/mo 0.2 miles

Demographics for 43302, OH

54,094

Population

22,483

Households

2.4

Avg Household Size

41

Median Age

13%

College-Educated

88%

High-School Grad

195.0 sq mi

ZIP Area

277

Density / Sq Mi

$53,833

Median Household Income

$36,816

Median Earnings

$853

Median Rent

$139,700

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

Breakfast & diner - Guest areas include two dining rooms, a banquet room, and bar seating.

Where is this breakfast & diner located?

The property is located at 1565 Marion Waldo Road Marion, OH.

What is the asking price?

The asking price for this property is $449,900.

What are key features of this property?

This property features: 3,484‑square‑foot diner on more than 1 acre; Seating for approximately 180 across two dining rooms, a banquet room, and bar area; Approximately 50 parking spaces