Restaurant Property with
For Sale
$350,000
2-1555 63 Gallia St, Portsmouth, OH 45662
The property combines a former restaurant building, a brick garage, and two vacant lots.
Property Size6,927 SF
Price / SF$50.53
Days on Market20
Property Features for 2-1555 63 Gallia St
General Information
Standard status
Active
Size
6,927 SF
Site & Location
Road Frontage
60 ft
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$4,584
Building Details
Buildings
2
Listing Agency:
Brush Realty
Listed By:
Ruthann Brush
(740) 354-3171
Source:
Exprealty
Added: Sep 17
Changed: Oct 4
Last Checked: Oct 5 at 7:50PM
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 Brush Realty
Investment Insights
Based on property information with market context.
The offering includes a 1,617-square-foot building formerly used as a restaurant and a 5,310-square-foot brick building currently used as a garage. The garage’s heat source uses a special type of oil, and the Portsmouth Fire Department must be notified before it is operated.
Two vacant lots on 9th Street are also included, with a combined frontage measurement of 60 feet.
Two vacant lots on 9th Street are also included, with a combined frontage measurement of 60 feet.
Key Highlights
- Former restaurant building contains 1,617 square feet
- Brick garage in current use contains 5,310 square feet
- Two vacant lots on 9th Street with 60 feet of frontage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,853
Cap Rate
8.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$577,060
$577.1K
Cap Rate 7%
$412,186
$412.2K
Cap Rate 9%
$320,589
$320.6K
Market Conditions
NOI Build-Up for 6,927 SF
Gross rent
$39.9K $5.76/SF
− Vacancy
−$1.4K −$0.21/SF
EGI
$38.5K $5.55/SF
− OpEx
−$9.6K −$1.39/SF
NOI
$28.9K $4.17/SF
Area
Scioto County, OH
Vacancy
3.58%
Lease Rate
$5.76 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$577,060
Cap Rate 7%
$412,186
Cap Rate 9%
$320,589
Alternative Uses
Best Use
Specialty Retail
$412.2K
$360.7K – $480.9K
NOI $28,853 @ 7.0% cap · market cap 8.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $103,188 @ 7.0% cap · market cap 29.48%
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
1,091
Businesses Nearby
147k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 36%
Dining 34%
Shops & Services 27%
Home Improvements & Furnishings 3%
Kroger
Groceries
52,947 visits/mo
0.2 miles
Tim Hortons
Dining
19,750 visits/mo
0.4 miles
Arby's
Dining
12,179 visits/mo
0.5 miles
Dollar Tree
Shops & Services
12,107 visits/mo
0.1 miles
SONIC Drive In
Dining
9,907 visits/mo
0.4 miles
Demographics for 45662, OH
27,718
Population
12,955
Households
2.1
Avg Household Size
39
Median Age
17%
College-Educated
87%
High-School Grad
55.5 sq mi
ZIP Area
499
Density / Sq Mi
$37,345
Median Household Income
$30,399
Median Earnings
$756
Median Rent
$98,100
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - The property combines a former restaurant building, a brick garage, and two vacant lots.
Where is this conventional restaurant located?
The property is located at 2-1555 63 Gallia St Portsmouth, OH.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Former restaurant building contains 1,617 square feet; Brick garage in current use contains 5,310 square feet; Two vacant lots on 9th Street with 60 feet of frontage
