For Sale
Contact for pricing
14675 Zion Road, Thornville, OH 43076
Conventional restaurants
Property Size5,784 SF
Price / SF$309.04
Days on Market170
Property Features for 14675 Zion Road
General Information
Standard status
Active
Size
5,784 SF
Total Parking Spaces
33
Property subtype
Retail
Building Details
Year Built
2020
Stories
2
Listing Agency:
E-Merge Real Estate
(614) 419-0478
Listed By:
Marnita Swickard · License #411426
Source:
Crexi
Added: Feb 22
Changed: Aug 11
Last Checked: Aug 9 at 8:44AM
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 E-Merge Real Estate
Investment Insights
Based on property information with market context.
Key Highlights
- Turnkey waterfront bar and restaurant in a prime location on Buckeye Lake with high visibility and easy I‑70 access.
- Custom‑built in 2020 with high‑end architectural design and quality craftsmanship throughout.
- Established, high‑performance business with diverse revenue streams (dining, bar, coffee shop, merchandise).
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
$72,004
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
4.03%
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%
$1,440,080
$1.4M
Cap Rate 7%
$1,028,629
$1.0M
Cap Rate 9%
$800,044
$800.0K
Market Conditions
NOI Build-Up for 5,784 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
$126.3K $21.84/SF
− Vacancy
−$30.3K −$5.24/SF
EGI
$96.0K $16.60/SF
− OpEx
−$24.0K −$4.15/SF
NOI
$72.0K $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%
$1,440,080
Cap Rate 7%
$1,028,629
Cap Rate 9%
$800,044
Alternative Uses
Best Use
Specialty Retail
$1.03M
$900.1K – $1.20M
NOI $72,004 @ 7.0% cap · market cap 4.03%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.17M
$1.02M – $1.36M
NOI $81,604 @ 7.0% cap · market cap 4.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
31
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
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
Where is this conventional restaurant located?
The property is located at 14675 Zion Road Thornville, OH.
What is the asking price?
The asking price for this property is $1,787,500.
What are key features of this property?
This property features: Turnkey waterfront bar and restaurant in a prime location on Buckeye Lake with high visibility and easy I‑70 access.; Custom‑built in 2020 with **high‑end architectural design and quality craftsmanship throughout.**; Established, high‑performance business with diverse revenue streams (dining, bar, coffee shop, merchandise).
