Convenience Store with Attached
For Sale
$549,900
340 Mount Vernon Road, Newark, OH 43055
Operating carryout business with inventory, equipment, beer and wine permits, and an attached pizza and sub shop tenant.
Property Size2,576 SF
Lot Size0.45 Acres
Days on Market42
Property Features for 340 Mount Vernon Road
General Information
Standard status
Active
Size
2,576 SF
Lot size
0.45 Acres
Property subtype
Commercial
Zoning
LC
Restaurant
Equipment Included
Yes
Liquor License
Yes
Additional Details
Business Included
Yes
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$2,747
Building Details
Building Size
2,576 SF
Year Built
1953
Tenancy
Multi
Listing Agency:
Red 1 Realty
(614) 679-0397
Listed By:
Rudolph V Stefanitsis · License #2013004397
Source:
Honnerlawrealestate
Added: Jul 20
Changed: Aug 29
Last Checked: Aug 25 at 9:18AM
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 Red 1 Realty
Investment Insights
Based on property information with market context.
This offering combines a commercial building with an operating carryout business on approximately 0.45 acres. The sale includes inventory, equipment, fixtures, C1/C2 beer and wine permits, and an attached tenant space occupied by a pizza and sub shop. Revenue sources identified for the business include retail merchandise, beer and wine, lottery sales, and tenant income.
The property is zoned LC (Limited Commercial) and was built in 1953. It is located less than three minutes from Downtown Newark, with access to State Route 16 and the greater Columbus region. The property also lies within Newark CRA #1 and Commercial TIF District 7-2. The address is 340 Mount Vernon Road, Newark, Ohio 43055.
The property is zoned LC (Limited Commercial) and was built in 1953. It is located less than three minutes from Downtown Newark, with access to State Route 16 and the greater Columbus region. The property also lies within Newark CRA #1 and Commercial TIF District 7-2. The address is 340 Mount Vernon Road, Newark, Ohio 43055.
Key Highlights
- Operating carryout business included with the commercial real estate
- Approximately 0.45 acres with LC (Limited Commercial) zoning
- C1/C2 beer and wine permits included in the sale
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
$46,943
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
8.54%
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%
$938,860
$938.9K
Cap Rate 7%
$670,614
$670.6K
Cap Rate 9%
$521,589
$521.6K
Market Conditions
NOI Build-Up for 2,576 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
$69.6K $27.00/SF
− Vacancy
−$2.5K −$0.97/SF
EGI
$67.1K $26.03/SF
− OpEx
−$20.1K −$7.81/SF
NOI
$46.9K $18.22/SF
Area
Licking County, OH
Vacancy
3.58%
Lease Rate
$27.00 /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%
$938,860
Cap Rate 7%
$670,614
Cap Rate 9%
$521,589
Alternative Uses
Best Use
Retail
$670.6K
$586.8K – $782.4K
NOI $46,943 @ 7.0% cap · market cap 8.54%
Second Best
Mixed Use
$598.8K
$523.9K – $698.6K
NOI $41,914 @ 7.0% cap · market cap 7.62%
Theoretical Best
Flex RnD
$2.07M
$1.81M – $2.41M
NOI $144,819 @ 7.0% cap · market cap 26.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
254
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
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?
Grocery and convenience store - Operating carryout business with inventory, equipment, beer and wine permits, and an attached pizza and sub shop tenant.
Where is this grocery and convenience store located?
The property is located at 340 Mount Vernon Road Newark, OH.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Operating carryout business included with the commercial real estate; Approximately 0.45 acres with LC (Limited Commercial) zoning; C1/C2 beer and wine permits included in the sale
