Building Details

Building Size 3,735 SF

Listing Agency: Real of Ohio Show Phone

Listed By: Leiha Lamb Show Phone

Source: Carolgoffrealestate

Added: May 7 Changed: Aug 29 Last Checked: Aug 29 at 8:55PM

Report an Issue

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 Real of Ohio

Investment Insights

Based on property information with market context.

This conventional restaurant offering includes the real estate, an established pizza business, equipment, furniture, and fixtures. The operating restaurant is complemented by banquet and event space located within a former bank building, creating a second functional component within the property.

An upper-level apartment provides 2 bedrooms and 1 bath and may support rental income or owner occupancy. The offering also includes an additional parcel currently used for parking. Berwick Pizza has served the Green Camp community for over 50 years, and the sale combines the business operation, restaurant improvements, event space, apartment, and related land in one acquisition.

Key Highlights

• Established pizza restaurant serving Green Camp for over 50 years
• Banquet and event space inside a former bank building
• 2‑bedroom, 1‑bath apartment on the upper level

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

$15,558

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

3.94%

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%

$311,160 $311.2K

Cap Rate 7%

$222,257 $222.3K

Cap Rate 9%

$172,867 $172.9K

Market Conditions

NOI Build-Up for 3,735 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

$21.5K $5.76/SF

− Vacancy

−$770 −$0.21/SF

EGI

$20.7K $5.55/SF

− OpEx

−$5.2K −$1.39/SF

NOI

$15.6K $4.17/SF

Area

Marion 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 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%

$311,160

Cap Rate 7%

$222,257

Cap Rate 9%

$172,867

Alternative Uses

Best Use

Specialty Retail

$222.3K

$194.5K – $259.3K (±1% cap)

NOI $15,558 @ 7.0% cap · market cap 3.94%

Second Best

Mixed Use

$178.6K

$156.3K – $208.4K (±1% cap)

NOI $12,503 @ 7.0% cap · market cap 3.17%

Theoretical Best

Office A

$753.9K

$659.7K – $879.6K (±1% cap)

NOI $52,776 @ 7.0% cap · market cap 13.36%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Berwick Pizza Restaurant

Suggested Use

Top Pick Storage Facility Veterinary Clinic Auto Repair Shop Real Estate Agency Pet Store Pet Store & Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

34

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 43322, OH

310

Population

165

Households

1.9

Avg Household Size

40

Median Age

8%

College-Educated

85%

High-School Grad

0.3 sq mi

ZIP Area

1,033

Density / Sq Mi

$61,750

Median Household Income

$36,786

Median Earnings

$728

Median Rent

$118,900

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this conventional restaurants located? What is the asking price? Find similar properties ... What are key features of this property?

Ask Rey about this property ...

Frequently Asked Questions

What type of property is this?

Conventional restaurant - Operating pizza restaurant with event space, an upstairs apartment, and a separate parking parcel.

Where is this conventional restaurant located?

The property is located at 205 Marion Street Green Camp, OH.

What is the asking price?

The asking price for this property is $395,000.

What are key features of this property?

This property features: Established pizza restaurant serving Green Camp for over 50 years; Banquet and event space inside a former bank building; 2‑bedroom, 1‑bath apartment on the upper level