Commercial Kitchen Restaurant
For Sale
Contact for pricing
222 Center St, Findlay, OH 45840
Building includes a commercial kitchen, newly added kitchen, and two full baths, with fire exits, signs, and parking front and back.
Property Size5,044 SF
Price / SF$92.98
Days on Market143
Property Features for 222 Center St
General Information
Standard status
Active
Size
5,044 SF
Property subtype
Mixed Use
Additional Details
Fenced Yard
Yes
Amenities
commercial kitchen
fire security
illuminated exit signs
large yard with privacy fence
Building Details
Year Built
1998
Stories
1
Listing Agency:
Key Realty
Listed By:
Chelsea Steinman · License #2014001561
(567) 250-1539
Source:
Crexi
Added: Apr 16
Changed: Aug 31
Last Checked: Sep 5 at 8:57AM
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 Key Realty
Investment Insights
Based on property information with market context.
This property features a commercial kitchen along with a newly updated kitchen, plus two full bathrooms. Most rooms are described as large and include windows, sinks, and fire exits. Fire security and illuminated exit signs are located throughout the building.
The layout also includes outdoor space with a large yard enclosed by a privacy fence. Parking is available in both the front and the back of the property. The building was previously used as a daycare, and the listing notes there may be space suited for business use.
The layout also includes outdoor space with a large yard enclosed by a privacy fence. Parking is available in both the front and the back of the property. The building was previously used as a daycare, and the listing notes there may be space suited for business use.
Key Highlights
- Built in 1998, previously operated as a daycare
- Includes a commercial kitchen plus a newly added kitchen
- Two full baths added to the building
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
$20,727
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
4.42%
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%
$414,540
$414.5K
Cap Rate 7%
$296,100
$296.1K
Cap Rate 9%
$230,300
$230.3K
Market Conditions
NOI Build-Up for 5,044 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
$32.3K $6.41/SF
− Vacancy
−$2.7K −$0.54/SF
EGI
$29.6K $5.87/SF
− OpEx
−$8.9K −$1.76/SF
NOI
$20.7K $4.11/SF
Area
Hancock County, OH
Vacancy
8.42%
Lease Rate
$6.41 /SF/Yr
Expense Ratio
30.00%
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%
$414,540
Cap Rate 7%
$296,100
Cap Rate 9%
$230,300
Alternative Uses
Best Use
Specialty Retail
$1.41M
$1.23M – $1.64M
NOI $98,484 @ 7.0% cap · market cap 21.00%
Second Best
Industrial
$296.1K
$259.1K – $345.5K
NOI $20,727 @ 7.0% cap · market cap 4.42%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,182
Businesses Nearby
39k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 62%
Shops & Services 38%
Wendy's
Dining
13,255 visits/mo
0.4 miles
Lee's Famous Recipe Chicken
Dining
6,613 visits/mo
0.3 miles
Circle K
Shops & Services
5,812 visits/mo
0.2 miles
Huntington Bank
Shops & Services
3,376 visits/mo
0.5 miles
Huntington Bank
Shops & Services
3,135 visits/mo
0.4 miles
Demographics for 45840, OH
54,901
Population
25,396
Households
2.2
Avg Household Size
40
Median Age
33%
College-Educated
95%
High-School Grad
166.5 sq mi
ZIP Area
330
Density / Sq Mi
$64,076
Median Household Income
$42,546
Median Earnings
$934
Median Rent
$203,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- YMCA Child Development Center — 231 E Lincoln St, Findlay, OH 45840
- Jack & Jill Preschool LLC — 120 W Sandusky St, Findlay, OH 45840
- Early years family Childcare Center LLC. — 222 Center St, Findlay, OH 45840
- City Life Findlay — 620 Lynn St, Findlay, OH 45840
Frequently Asked Questions
What type of property is this?
Day care center - Building includes a commercial kitchen, newly added kitchen, and two full baths, with fire exits, signs, and parking front and back.
Where is this day care center located?
The property is located at 222 Center St Findlay, OH.
What is the asking price?
The asking price for this property is $469,000.
What are key features of this property?
This property features: Built in 1998, previously operated as a daycare; Includes a commercial kitchen plus a newly added kitchen; Two full baths added to the building
