Restaurant Building with
New
For Sale
$365,000
205 Commercial Avenue SE, New Philadelphia, OH 44663
CommercialSale, New Philadelphia, OH
Property Size2,521 SF
Lot Size0.18 Acres
Price / SF$144.78
Days on Market4
Property Features for 205 Commercial Avenue SE
General Information
Property type
Commercial Sale
Property subtype
Retail
Parking features
Parking Lot
Subdivision
Blakes Mills
Elementary school district
New Philadelphia CSD - 7906
Middle school district
New Philadelphia CSD - 7906
High school district
New Philadelphia CSD - 7906
Directions
Broadway St to South Side, left on Commercial Ave SE. Building on left.
Standard status
Active
APN
4300791000
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
WHOLE 761
Tax Annual Amount
3630
Legal Description
WHOLE 761
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1974
Listing Agency:
McInturf Realty
(330) 364-6648
Listed By:
Jan A McInturf · License #314352
(330) 343-7603
Added: Sep 21
Changed: Sep 23
Last Checked: Sep 24 at 1:06AM
MLS# 5247201
Copyright © 2026 MLS Now. 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 restaurant property occupies a 0.1788-acre parcel and includes a paved parking lot for on-site vehicle storage. The building dates to 1974 and is equipped with 3 furnaces, 3 central air units, and three-phase electric service. Natural gas provides heat, while public water and public sewer serve the property.
The property is located at 205 Commercial Avenue SE in New Philadelphia, Ohio, within the city’s South Side area and near SR 250. Its existing restaurant configuration, dedicated parking, and established utility connections support continued food-service use.
The property is located at 205 Commercial Avenue SE in New Philadelphia, Ohio, within the city’s South Side area and near SR 250. Its existing restaurant configuration, dedicated parking, and established utility connections support continued food-service use.
Key Highlights
- Restaurant use on a 0.1788‑acre parcel
- 3 furnaces and 3 central air units
- Three‑phase electric service
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
$20,039
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
5.49%
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%
$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
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
$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 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%
$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 5.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$469.8K
$411.1K – $548.1K
NOI $32,885 @ 7.0% cap · market cap 9.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Utilities to site
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
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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 - Restaurant property with paved on-site parking, multiple HVAC systems, and three-phase electrical service.
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 $365,000.
What are key features of this property?
This property features: Restaurant use on a 0.1788‑acre parcel; 3 furnaces and 3 central air units; Three‑phase electric service
