Freestanding Restaurant with
For Sale
$165,000
1485 S Champion Avenue, Columbus, OH 43207
Operating restaurant with rear storage, supplemental parking, and a pull-through window for customer access.
Property Size999 SF
Lot Size0.26 Acres
Price / SF$165.17
Days on Market11
Property Features for 1485 S Champion Avenue
General Information
Standard status
Active
Size
999 SF
Lot size
0.26 Acres
Property subtype
Restaurant
Site & Location
Drive-Thru
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$1,968
Amenities
storage area
Building Details
Building Size
999 SF
Year Built
1956
Listing Agency:
Best Corporate Real Estate
(845) 741-4893
Listed By:
Justin Boehlke · License #2026000007
(845) 741-4893
Source:
Camtaylor
Added: Aug 20
Changed: Aug 28
Last Checked: Aug 29 at 3:23PM
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 Best Corporate Real Estate
Investment Insights
Based on property information with market context.
This freestanding restaurant contains approximately 999 square feet on a 0.263-acre lot and was built in 1956. The property is currently operating as a Caribbean and soul food restaurant, with a pull-through window that supports quick customer access.
Parking is provided on the side of the building, with additional parking and storage space at the rear. The lot also includes a circulation layout that allows vehicles to pull around the building. Located at 1485 S Champion Avenue in Columbus, the property offers access and visibility from S Champion Avenue, with local amenities and retail nearby.
Parking is provided on the side of the building, with additional parking and storage space at the rear. The lot also includes a circulation layout that allows vehicles to pull around the building. Located at 1485 S Champion Avenue in Columbus, the property offers access and visibility from S Champion Avenue, with local amenities and retail nearby.
Key Highlights
- Approximately 999 square feet on a 0.263‑acre lot
- Currently operating as a Caribbean and soul food restaurant
- Pull‑through window available for customer access
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
$12,436
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
7.54%
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%
$248,720
$248.7K
Cap Rate 7%
$177,657
$177.7K
Cap Rate 9%
$138,178
$138.2K
Market Conditions
NOI Build-Up for 999 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
$21.8K $21.84/SF
− Vacancy
−$5.2K −$5.24/SF
EGI
$16.6K $16.60/SF
− OpEx
−$4.1K −$4.15/SF
NOI
$12.4K $12.45/SF
Area
ZIP 43207
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%
$248,720
Cap Rate 7%
$177,657
Cap Rate 9%
$138,178
Alternative Uses
Best Use
Specialty Retail
$177.7K
$155.5K – $207.3K
NOI $12,436 @ 7.0% cap · market cap 7.54%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$201.4K
$176.2K – $234.9K
NOI $14,095 @ 7.0% cap · market cap 8.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
478
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43207, OH
46,853
Population
21,242
Households
2.2
Avg Household Size
38
Median Age
16%
College-Educated
85%
High-School Grad
23.1 sq mi
ZIP Area
2,028
Density / Sq Mi
$61,307
Median Household Income
$40,037
Median Earnings
$1,115
Median Rent
$156,200
Median Home Value
Market
Vacancy Rate% for Retail in Columbus, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Operating restaurant with rear storage, supplemental parking, and a pull-through window for customer access.
Where is this conventional restaurant located?
The property is located at 1485 S Champion Avenue Columbus, OH.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: Approximately 999 square feet on a 0.263‑acre lot; Currently operating as a Caribbean and soul food restaurant; Pull‑through window available for customer access
