Turnkey Restaurant with
For Sale
$1,100,000
Pending
22 E Mound Street Columbus, Columbus, OH 43215
Historic property includes a fully operational restaurant/bar and two upstairs rental units.
Property Size4,464 SF
Days on Market28
Property Features for 22 E Mound Street Columbus
General Information
Standard status
Pending
Size
4,464 SF
Restaurant
Commercial Hood
Yes
Equipment Included
No
Liquor License
No
Additional Details
Furnished
No
Taxes and HOA fees
Annual Taxes
$15,328
Amenities
No
0.06
4464.0
Building Details
Building Size
4,464 SF
Year Built
1920
Stories
2
Listing Agency:
The Robert Weiler Company
(614) 660-5959
Listed By:
Sinath Johnson · License #321199
(614) 660-5959
Source:
Movenowohio
Added: Jul 28
Changed: Aug 23
Last Checked: Aug 22 at 6:48AM
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 The Robert Weiler Company
Investment Insights
Based on property information with market context.
This for-sale property offers a turnkey restaurant/bar operation on the ground level along with two rental opportunities on the upper level. The restaurant/bar includes a functional hood system, and the upstairs space is currently operated by the tenant as short-term rentals. The offering also references inclusion of FF&E and other items, with a note that the liquor license and business entity are not included in the sale price.
The building is presented as a historic Columbus landmark. It includes both income-producing restaurant/bar space and residential rental units in a single on-site structure.
For investors or owner-operators looking for an all-in-one setup, the layout supports an active food and beverage use downstairs and rental operations above.
The building is presented as a historic Columbus landmark. It includes both income-producing restaurant/bar space and residential rental units in a single on-site structure.
For investors or owner-operators looking for an all-in-one setup, the layout supports an active food and beverage use downstairs and rental operations above.
Key Highlights
- Historic property with a fully operational restaurant/bar on the ground level
- Restaurant/bar includes a functional hood system
- Two upstairs rental opportunities that are operated as rentals/Airbnb by the current tenant
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
$59,782
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
5.43%
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%
$1,195,640
$1.2M
Cap Rate 7%
$854,029
$854.0K
Cap Rate 9%
$664,244
$664.2K
Market Conditions
NOI Build-Up for 4,464 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
$85.7K $19.20/SF
− Vacancy
−$6.0K −$1.34/SF
EGI
$79.7K $17.86/SF
− OpEx
−$19.9K −$4.46/SF
NOI
$59.8K $13.39/SF
Area
Columbus, OH
Vacancy
7.00%
Lease Rate
$19.20 /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%
$1,195,640
Cap Rate 7%
$854,029
Cap Rate 9%
$664,244
Alternative Uses
Best Use
Specialty Retail
$854.0K
$747.3K – $996.4K
NOI $59,782 @ 7.0% cap · market cap 5.43%
Second Best
Apartment 5plus
$436.8K
$382.2K – $509.6K
NOI $30,578 @ 7.0% cap · market cap 2.78%
Theoretical Best
Office A
$930.3K
$814.0K – $1.09M
NOI $65,122 @ 7.0% cap · market cap 5.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
6,380
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43215, OH
20,761
Population
13,428
Households
1.5
Avg Household Size
32
Median Age
71%
College-Educated
97%
High-School Grad
5.1 sq mi
ZIP Area
4,071
Density / Sq Mi
$74,469
Median Household Income
$59,521
Median Earnings
$1,487
Median Rent
$508,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Historic property includes a fully operational restaurant/bar and two upstairs rental units.
Where is this conventional restaurant located?
The property is located at 22 E Mound Street Columbus Columbus, OH.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Historic property with a fully operational restaurant/bar on the ground level; Restaurant/bar includes a functional hood system; Two upstairs rental opportunities that are operated as rentals/Airbnb by the current tenant
