2nd Gen Restaurant with
For Sale
Contact for pricing
1616 Claremont Ave, Ashland, OH 44805
Restaurant space features existing kitchen infrastructure and included equipment and FF&E, offering a redevelopment opportunity on 2.1 acres.
Property Size5,467 SF
Lot Size2.10 Acres
Price / SF$128.04
Days on Market138
Property Features for 1616 Claremont Ave
General Information
Standard status
Active
Size
5,467 SF
Lot size
2.10 Acres
Property subtype
RETAIL
Additional Details
Furnished
Yes
Listing Agency:
Passov Real Estate Group
(216) 831-8100
Listed By:
Ronnie Romanini III
(440) 591-4805
Source:
Moodyscre
Added: Jun 12
Changed: Oct 25
Last Checked: Oct 26 at 5:10PM
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 Passov Real Estate Group
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2nd generation restaurant includes kitchen infrastructure, along with equipment and FF&E included with the sale, supporting an operator’s ability to continue restaurant use or transition within a new layout. The property is presented as a development opportunity totaling 2.1 acres.
The site is directly across the street from Discount Drug Mart, providing convenient adjacency to an established retail destination.
With approximately 5,467 square feet of space, the offering is positioned for buyers seeking a restaurant-ready facility with built-in improvements, as well as land to plan future development under the property’s redevelopment concept.
The site is directly across the street from Discount Drug Mart, providing convenient adjacency to an established retail destination.
With approximately 5,467 square feet of space, the offering is positioned for buyers seeking a restaurant-ready facility with built-in improvements, as well as land to plan future development under the property’s redevelopment concept.
Key Highlights
- 2.1‑acre development opportunity with existing 2nd gen restaurant space
- Kitchen infrastructure in place, with restaurant equipment and FF&E included
- Located directly across the street from Discount Drug Mart
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,921
Cap Rate
8.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,178,420
$1.2M
Cap Rate 7%
$841,729
$841.7K
Cap Rate 9%
$654,678
$654.7K
Market Conditions
NOI Build-Up for 5,467 SF
Gross rent
$82.0K $15.00/SF
− Vacancy
−$3.4K −$0.63/SF
EGI
$78.6K $14.37/SF
− OpEx
−$19.6K −$3.59/SF
NOI
$58.9K $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 Rate 5%
$1,178,420
Cap Rate 7%
$841,729
Cap Rate 9%
$654,678
Alternative Uses
Best Use
Specialty Retail
$841.7K
$736.5K – $982.0K
NOI $58,921 @ 7.0% cap · market cap 8.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.03M
$902.7K – $1.20M
NOI $72,217 @ 7.0% cap · market cap 10.32%
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
Location Intelligence
Trade Area within ½ mile
289
Businesses Nearby
67k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 47%
Dining 46%
Apparel 5%
Electronics 2%
McDonald's
Dining
22,266 visits/mo
0.1 miles
Circle K
Shops & Services
16,678 visits/mo
0.4 miles
Dollar General
Shops & Services
6,797 visits/mo
0.2 miles
Chase Bank
Shops & Services
4,746 visits/mo
0.1 miles
Pizza Hut
Dining
4,089 visits/mo
0.3 miles
Demographics for 44805, OH
31,238
Population
13,248
Households
2.4
Avg Household Size
41
Median Age
25%
College-Educated
92%
High-School Grad
151.1 sq mi
ZIP Area
207
Density / Sq Mi
$62,058
Median Household Income
$35,122
Median Earnings
$835
Median Rent
$165,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant space features existing kitchen infrastructure and included equipment and FF&E, offering a redevelopment opportunity on 2.1 acres.
Where is this conventional restaurant located?
The property is located at 1616 Claremont Ave Ashland, OH.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 2.1‑acre development opportunity with existing 2nd gen restaurant space; Kitchen infrastructure in place, with restaurant equipment and FF&E included; Located directly across the street from Discount Drug Mart
