Zanesville Grocery Store
For Sale
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2200 June Parkway, Zanesville, OH 43701
Grocery store in Zanesville, Ohio, near major employers and attractions.
Property Size54,308 SF
Price / SF$125.03
Days on Market704
Property Features for 2200 June Parkway
General Information
Standard status
Active
Size
54,308 SF
Property subtype
Retail
Zoning
NZ
Listing Agency:
Cooper Commercial Investment Group
(216) 562-1981
Listed By:
Dan Cooper · License #OH 009003618
Source:
Crexi
Added: Sep 5, 2024
Changed: Aug 8
Last Checked: May 12 at 9:59PM
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 Cooper Commercial Investment Group
Investment Insights
Based on property information with market context.
Located in Zanesville, the county seat of Muskingum County, this property benefits from the area's attractions and treasures. Zanesville is located 52 miles east of Columbus. The city has a diverse workforce with major employers in health care, education, manufacturing, and retail sales. Genesis Hospital, part of the Genesis Healthcare System, employs over 4,000 system-wide, including 300+ physicians, with the 260-bed hospital employing 2,800. Manufacturing sector employers include Halliburton (560+ employees), Bimbo Bakery (450 employees), and Owens-Illinois, Inc. (400+ employees). Dollar General (approximately 950 employees) and AutoZone (650 employees) have major distribution centers in the region. The county government employs 940. Spectrum has an inbound call center employing 560+ people, and Shelly & Sands employs 500. Muskingum University in nearby New Concord has 2,600 students and 450 employees, while Zane State College, 4.8 miles north, has 3,444 students and over 240 employees. Ohio University Zanesville Campus has 1,000 students and 120 employees. The Conference & Welcome Center offers exhibit and banquet halls, an executive boardroom, a conference and training room, and a presentation theatre. Zanesville Museum of Art, Y Bridge Cultural Arts Center, and Zanesville Pottery are also attractions. The property is part of the Columbus MSA, with a population of 2.51 million.
Key Highlights
- Located in Zanesville, a thriving community with a strong economic base.
- Proximity to major employers, including Genesis Hospital and Dollar General.
- Close to educational institutions like Muskingum University and Zane State College.
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
$431,683
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
6.36%
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%
$8,633,660
$8.6M
Cap Rate 7%
$6,166,900
$6.2M
Cap Rate 9%
$4,796,478
$4.8M
Market Conditions
NOI Build-Up for 54,308 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
$599.6K $11.04/SF
− Vacancy
−$24.0K −$0.44/SF
EGI
$575.6K $10.60/SF
− OpEx
−$143.9K −$2.65/SF
NOI
$431.7K $7.95/SF
Area
Muskingum 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%
$8,633,660
Cap Rate 7%
$6,166,900
Cap Rate 9%
$4,796,478
Alternative Uses
Best Use
Specialty Retail
$6.17M
$5.40M – $7.19M
NOI $431,683 @ 7.0% cap · market cap 6.36%
Second Best
Retail
$5.03M
$4.40M – $5.87M
NOI $352,177 @ 7.0% cap · market cap 5.19%
Theoretical Best
Office A
$11.79M
$10.31M – $13.75M
NOI $825,099 @ 7.0% cap · market cap 12.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
264
Businesses Nearby
145k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 50%
Shops & Services 45%
Apparel 3%
Electronics 1%
Wendy's
Dining
15,806 visits/mo
0.3 miles
Speedway
Shops & Services
15,128 visits/mo
0.3 miles
Burger King
Dining
13,979 visits/mo
0.2 miles
Ollie's Bargain Outlet
Shops & Services
13,443 visits/mo
0.3 miles
Taco Bell
Dining
13,048 visits/mo
0.2 miles
Demographics for 43701, OH
55,361
Population
25,785
Households
2.1
Avg Household Size
42
Median Age
18%
College-Educated
90%
High-School Grad
180.5 sq mi
ZIP Area
307
Density / Sq Mi
$54,900
Median Household Income
$34,345
Median Earnings
$819
Median Rent
$164,200
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
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Similar Off Market Nearby
- Riesbecks — 2200 June Parkway, Zanesville, OH 43701
- Campbell's Foodland — 3 S Maysville Ave, Zanesville, OH 43701
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Grocery store in Zanesville, Ohio, near major employers and attractions.
Where is this grocery and convenience store located?
The property is located at 2200 June Parkway Zanesville, OH.
What is the asking price?
The asking price for this property is $6,790,000.
What are key features of this property?
This property features: Located in Zanesville, a thriving community with a strong economic base.; Proximity to major employers, including Genesis Hospital and Dollar General.; Close to educational institutions like Muskingum University and Zane State College.
