Restaurant
For Sale
$349,900
205 Commercial Avenue SE, New Philadelphia, OH 44663
Three-phase electrical service and paved on-site parking support the restaurant’s existing configuration.
Property Size2,521 SF
Price / SF$138.79
Days on Market37
Property Features for 205 Commercial Avenue SE
General Information
Standard status
Active
Size
2,521 SF
Property subtype
Retail
Additional Details
Currently Operating
Yes
Taxes and HOA fees
Annual Taxes
$3,813
Building Details
Year Built
1974
Listing Agency:
Life Stages Realty LLC
Listed By:
Nicolette Kuebeler · License #2022002552
(330) 322-3637
Source:
Lifestagesrealty
Added: Sep 21
Changed: Oct 27
Last Checked: Oct 27 at 3:16AM
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 Life Stages Realty LLC
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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 1974, this 2,521-square-foot restaurant building has three furnaces and three central air units, along with three-phase electric service. A paved parking area is located on site.
The property is close to SR 250 in New Philadelphia, Ohio.
The property is close to SR 250 in New Philadelphia, Ohio.
Key Highlights
- 2,521‑square‑foot building currently used as a restaurant
- Three furnaces and 3 central air units
- Three‑phase electric service
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,039
Cap Rate
5.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$400,780
$400.8K
Cap Rate 7%
$286,271
$286.3K
Cap Rate 9%
$222,656
$222.7K
Market Conditions
NOI Build-Up for 2,521 SF
Gross rent
$27.8K $11.04/SF
− Vacancy
−$1.1K −$0.44/SF
EGI
$26.7K $10.60/SF
− OpEx
−$6.7K −$2.65/SF
NOI
$20.0K $7.95/SF
Area
Tuscarawas County, OH
Vacancy
4.00%
Lease Rate
$11.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$400,780
Cap Rate 7%
$286,271
Cap Rate 9%
$222,656
Alternative Uses
Best Use
Specialty Retail
$286.3K
$250.5K – $334.0K
NOI $20,039 @ 7.0% cap · market cap 5.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$469.8K
$411.1K – $548.1K
NOI $32,885 @ 7.0% cap · market cap 9.40%
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
303
Businesses Nearby
237k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 45%
Dining 22%
Home Improvements & Furnishings 17%
Shops & Services 11%
Marshalls
Apparel
41,022 visits/mo
0.3 miles
Kohl's
Apparel
36,541 visits/mo
0.3 miles
Lowe's
Home Improvements & Furnishings
30,886 visits/mo
0.4 miles
DICK'S Sporting Goods
Apparel
28,982 visits/mo
0.3 miles
Jo-Ann Fabric and Craft
Shops & Services
21,156 visits/mo
0.3 miles
Demographics for 44663, OH
25,601
Population
11,702
Households
2.2
Avg Household Size
43
Median Age
21%
College-Educated
91%
High-School Grad
96.2 sq mi
ZIP Area
266
Density / Sq Mi
$62,383
Median Household Income
$36,495
Median Earnings
$859
Median Rent
$177,100
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
Similar Off Market Nearby
- Empire China Buffet — 400 Mill Ave SE, New Philadelphia, OH 44663
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Three-phase electrical service and paved on-site parking support the restaurant’s existing configuration.
Where is this conventional restaurant located?
The property is located at 205 Commercial Avenue SE New Philadelphia, OH.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 2,521‑square‑foot building currently used as a restaurant; Three furnaces and 3 central air units; Three‑phase electric service
