NNN Restaurant With
17-19 S High Street, Canal Winchester, OH 43110
For Sale
$1,580,000
Pending
Established restaurant property with a full-service bar, private dining area, and additional residential space.
Property Size11,088 SF
Days on Market53
Property Features for 17-19 S High Street
General Information
Standard status
Size
Property subtype
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Sorrell & Company, Inc.
Listed By:
William C Sorrell · License #2020006028
(614) 738-2934
Source:
Camtaylor
Added: Sep 16
Changed: Nov 2
Last Checked: Nov 6 at 3:14PM
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 Sorrell & Company, Inc.
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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.
Built in 1975, this 11,088 SF commercial property includes approximately 6,521 SF of restaurant space occupied by Shade on the Canal. The operating restaurant has a full-service bar, banquet and private dining area known as The Pine Room, multiple TVs, and built-out areas for dining, entertainment, sporting events, and gatherings. A second-floor apartment adds three bedrooms, two full bathrooms, hardwood floors, and appliances.
The property is subject to a NNN lease extending through February 2034. Capital work includes replacement of the rear shingle roof within the last two years, replacement of the front flat roof within the last four years, recent exterior painting, and door reconditioning within the past year. A village-owned and maintained parking lot serves the property in Canal Winchester’s historic commercial area.
The property is subject to a NNN lease extending through February 2034. Capital work includes replacement of the rear shingle roof within the last two years, replacement of the front flat roof within the last four years, recent exterior painting, and door reconditioning within the past year. A village-owned and maintained parking lot serves the property in Canal Winchester’s historic commercial area.
Key Highlights
- Approximately 6,521 SF of restaurant space within an 11,088 SF property
- NNN lease in place through February 2034
- Full‑service bar, banquet area, and private dining room called The Pine Room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$112,266
Cap Rate
7.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,245,320
$2.2M
Cap Rate 7%
$1,603,800
$1.6M
Cap Rate 9%
$1,247,400
$1.2M
Market Conditions
NOI Build-Up for 11,088 SF
Gross rent
$199.6K $18.00/SF
− Vacancy
−$20.0K −$1.80/SF
EGI
$179.6K $16.20/SF
− OpEx
−$67.4K −$6.07/SF
NOI
$112.3K $10.13/SF
Area
Franklin County, OH
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,245,320
Cap Rate 7%
$1,603,800
Cap Rate 9%
$1,247,400
Alternative Uses
Best Use
Specialty Retail
$2.26M
$1.98M – $2.64M
NOI $158,237 @ 7.0% cap · market cap 10.02%
Second Best
Mixed Use
$1.60M
$1.40M – $1.87M
NOI $112,266 @ 7.0% cap · market cap 7.11%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
359
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43110, OH
40,953
Population
17,352
Households
2.4
Avg Household Size
35
Median Age
36%
College-Educated
93%
High-School Grad
46.7 sq mi
ZIP Area
877
Density / Sq Mi
$76,334
Median Household Income
$48,216
Median Earnings
$1,218
Median Rent
$284,300
Median Home Value
Market
Properties on Market for Conventional restaurants in Franklin County
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Established restaurant property with a full-service bar, private dining area, and additional residential space.
Where is this conventional restaurant located?
The property is located at 17-19 S High Street Canal Winchester, OH.
What is the asking price?
The asking price for this property is $1,580,000.
What are key features of this property?
This property features: Approximately 6,521 SF of restaurant space within an 11,088 SF property; NNN lease in place through February 2034; Full‑service bar, banquet area, and private dining room called The Pine Room
