Restaurant Business with
New
For Sale
$66,000
29 North 3rd Street, Newark, OH 43055
A 751± SF operation in Downtown Commercial zoning is offered without the real estate.
Property Size751 SF
Days on Market5
Property Features for 29 North 3rd Street
General Information
Standard status
Active
Size
751 SF
Property subtype
Retail
Zoning
Downtown Commercial
Additional Details
Business Included
Yes
Equipment Included
Yes
Building Details
Building Size
751 SF
Listing Agency:
SHAI-Hess Commercial Real Estate
Listed By:
Brandon Hess
(740) 819-2673
Source:
Shai-hess
Added: Oct 7
Last Checked: Oct 11 at 4:44AM
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 SHAI-Hess Commercial Real Estate
Investment Insights
Based on property information with market context.
This restaurant business occupies 751± SF in the renovated Historic Newark Arcade at 29 North 3rd Street in Newark, Ohio. The sale covers the operating business rather than the real estate, and includes an extensive equipment package. The property is zoned Downtown Commercial.
The current lease can be assumed or negotiated. The business also has an established base of regular customers.
The current lease can be assumed or negotiated. The business also has an established base of regular customers.
Key Highlights
- 751± SF restaurant space in the renovated Historic Newark Arcade
- Business‑only transaction; no real estate included
- Extensive equipment included in the sale
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$3,128
Cap Rate
4.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$62,560
$62.6K
Cap Rate 7%
$44,686
$44.7K
Cap Rate 9%
$34,756
$34.8K
Market Conditions
NOI Build-Up for 751 SF
Gross rent
$4.3K $5.76/SF
− Vacancy
−$155 −$0.21/SF
EGI
$4.2K $5.55/SF
− OpEx
−$1.0K −$1.39/SF
NOI
$3.1K $4.17/SF
Area
Licking 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 Rate 5%
$62,560
Cap Rate 7%
$44,686
Cap Rate 9%
$34,756
Alternative Uses
Best Use
Specialty Retail
$44.7K
$39.1K – $52.1K
NOI $3,128 @ 7.0% cap · market cap 4.74%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$603.1K
$527.8K – $703.7K
NOI $42,220 @ 7.0% cap · market cap 63.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,000
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43055, OH
62,590
Population
27,046
Households
2.3
Avg Household Size
40
Median Age
23%
College-Educated
92%
High-School Grad
112.7 sq mi
ZIP Area
555
Density / Sq Mi
$61,807
Median Household Income
$39,412
Median Earnings
$920
Median Rent
$185,300
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - A 751± SF operation in Downtown Commercial zoning is offered without the real estate.
Where is this conventional restaurant located?
The property is located at 29 North 3rd Street Newark, OH.
What is the asking price?
The asking price for this property is $66,000.
What are key features of this property?
This property features: 751± SF restaurant space in the renovated Historic Newark Arcade; Business‑only transaction; no real estate included; Extensive equipment included in the sale
