Renovated Conventional
For Sale
$1,490,000
153 Main Street, Loudonville, OH 44842
COMMERCIAL - Loudonville, OH
Property Size4,532 SF
Lot Size0.09 Acres
Price / SF$328.77
Days on Market113
Property Features for 153 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
City/Village
Directions
Located downtown at the corner of Water St and Main St.
Subdivision
Ashland
Standard status
Active
APN
C09-025-0-0062-00
Lot size
0.09 Acres
Taxes and HOA fees
Tax Description
153 W MAIN ST R=25 LOT 425
Tax Annual Amount
1452
Legal Description
153 W MAIN ST R=25 LOT 425
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Building Details
Year built
1900
Listing Agency:
Howard Hanna Real Estate Services- Mohican Office
(419) 920-4100
Listed By:
Tracy Kauffman · License #2002002519
(330) 231-4044
Added: Apr 19
Changed: Aug 7
Last Checked: Aug 9 at 1:06PM
MLS# 9073059
Copyright © 2026 Mansfield Association of Realtors. 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 conventional restaurant property combines an operating food-service business with a renovated historic building in Loudonville. Constructed in 1900, the 4,532-square-foot facility includes updated electrical service, HVAC, kitchen equipment, and interior improvements. The sale includes furniture, fixtures, and equipment, along with a liquor license and trained staff.
The property occupies 0.09 acres and provides 1,600 square feet of paved parking. Natural gas heating and public sewer serve the building, which is designated City/Village zoning. The restaurant is located on Main Street in Loudonville, Ohio, within the area identified as a gateway to the Mohican tourism region.
The property occupies 0.09 acres and provides 1,600 square feet of paved parking. Natural gas heating and public sewer serve the building, which is designated City/Village zoning. The restaurant is located on Main Street in Loudonville, Ohio, within the area identified as a gateway to the Mohican tourism region.
Key Highlights
- 4,532 SF fully renovated restaurant building
- 1,600 SF paved parking area
- Updated electrical, HVAC, kitchen equipment, and interior finishes
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
$48,844
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
3.28%
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%
$976,880
$976.9K
Cap Rate 7%
$697,771
$697.8K
Cap Rate 9%
$542,711
$542.7K
Market Conditions
NOI Build-Up for 4,532 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
$68.0K $15.00/SF
− Vacancy
−$2.9K −$0.63/SF
EGI
$65.1K $14.37/SF
− OpEx
−$16.3K −$3.59/SF
NOI
$48.8K $10.78/SF
Area
Ashland County, OH
Vacancy
4.20%
Lease Rate
$15.00 /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%
$976,880
Cap Rate 7%
$697,771
Cap Rate 9%
$542,711
Alternative Uses
Best Use
Specialty Retail
$697.8K
$610.6K – $814.1K
NOI $48,844 @ 7.0% cap · market cap 3.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$855.2K
$748.3K – $997.8K
NOI $59,866 @ 7.0% cap · market cap 4.02%
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
275
Businesses Nearby
46k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 58%
Shops & Services 42%
McDonald's
Dining
15,920 visits/mo
0.4 miles
BP
Shops & Services
7,979 visits/mo
0.2 miles
Taco Bell
Dining
7,343 visits/mo
0.1 miles
Marathon Petroleum
Shops & Services
5,072 visits/mo
0.5 miles
Park National Bank
Shops & Services
3,907 visits/mo
0.1 miles
Demographics for 44842, OH
5,643
Population
2,480
Households
2.3
Avg Household Size
43
Median Age
20%
College-Educated
92%
High-School Grad
72.8 sq mi
ZIP Area
78
Density / Sq Mi
$71,524
Median Household Income
$39,444
Median Earnings
$665
Median Rent
$186,600
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 restaurant property with updated building systems, kitchen equipment, interior finishes, and paved parking.
Where is this conventional restaurant located?
The property is located at 153 Main Street Loudonville, OH.
What is the asking price?
The asking price for this property is $1,490,000.
What are key features of this property?
This property features: 4,532 SF fully renovated restaurant building; 1,600 SF paved parking area; Updated electrical, HVAC, kitchen equipment, and interior finishes
