Carmel's with a Twist
For Sale
Contact for pricing
2947 Tremainsville Road, Toledo, OH 43613
Restaurant property with FF&E, liquor licenses, recipes, and licensed parking across the street.
Property Size5,984 SF
Price / SF$108.62
Days on Market10
Property Features for 2947 Tremainsville Road
General Information
Standard status
Active
Size
5,984 SF
Class
B
Total Parking Spaces
85
Property subtype
Retail, Hospitality, Business for Sale
Zoning
CR Regional Commercial
Restaurant
Equipment Included
Yes
Liquor License
Yes
Additional Details
Furnished
Yes
Business Included
Yes
Building Details
Year Built
1964
Year Renovated
2014
Stories
1
Units
1
Listing Agency:
Danberry Realtors
(419) 654-4343
Listed By:
Jim McGowan · License #OH 0000260675
Source:
Crexi
Added: Aug 5
Changed: Aug 13
Last Checked: Aug 13 at 2:35AM
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 Danberry Realtors
Investment Insights
Based on property information with market context.
Carmel's with a Twist is a 5,984-square-foot restaurant property at 2947 Tremainsville Road in Toledo. Built in 1964, the offering includes the real estate, furniture, fixtures, and equipment, along with recipes associated with the operation. Liquor licenses are also included in the sale.
The property carries CR Regional Commercial zoning. A license for parking in the lot across the street is part of the offering, providing an additional parking arrangement tied to the restaurant. The sale combines the physical property with operational assets and business-related licenses.
The property carries CR Regional Commercial zoning. A license for parking in the lot across the street is part of the offering, providing an additional parking arrangement tied to the restaurant. The sale combines the physical property with operational assets and business-related licenses.
Key Highlights
- 5,984‑square‑foot restaurant property at 2947 Tremainsville Road
- CR Regional Commercial zoning
- Sale includes real estate, FF&E, recipes, and liquor licenses
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
$45,562
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
7.01%
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%
$911,240
$911.2K
Cap Rate 7%
$650,886
$650.9K
Cap Rate 9%
$506,244
$506.2K
Market Conditions
NOI Build-Up for 5,984 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
$64.6K $10.80/SF
− Vacancy
−$3.9K −$0.65/SF
EGI
$60.7K $10.15/SF
− OpEx
−$15.2K −$2.54/SF
NOI
$45.6K $7.61/SF
Area
Toledo, OH
Vacancy
6.00%
Lease Rate
$10.80 /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%
$911,240
Cap Rate 7%
$650,886
Cap Rate 9%
$506,244
Alternative Uses
Best Use
Specialty Retail
$650.9K
$569.5K – $759.4K
NOI $45,562 @ 7.0% cap · market cap 7.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$995.9K
$871.4K – $1.16M
NOI $69,711 @ 7.0% cap · market cap 10.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
475
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43613, OH
32,116
Population
14,376
Households
2.2
Avg Household Size
37
Median Age
23%
College-Educated
93%
High-School Grad
6.1 sq mi
ZIP Area
5,265
Density / Sq Mi
$63,425
Median Household Income
$41,877
Median Earnings
$895
Median Rent
$125,300
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.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant property with FF&E, liquor licenses, recipes, and licensed parking across the street.
Where is this conventional restaurant located?
The property is located at 2947 Tremainsville Road Toledo, OH.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 5,984‑square‑foot restaurant property at 2947 Tremainsville Road; CR Regional Commercial zoning; Sale includes real estate, FF&E, recipes, and liquor licenses
