Leased Restaurant
3764 Cleveland Avenue, Columbus, OH 43224
For Sale
New
$550,000
A tenant has leased the premises and intends to open a restaurant.
Property Size1,180 SF
Lot Size0.26 Acres
Price / SF$466.10
Days on Market7
Property Features for 3764 Cleveland Avenue
General Information
Standard status
Size
Lot size
Property subtype
Occupancy
Site & Location
Neighborhood
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Red 1 Realty
Listed By:
Mohamed S Ahmed
(614) 805-7279
Source:
Camtaylor
Added: Nov 8
Changed: Nov 10
Last Checked: Nov 12 at 2:40PM
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
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Investment Insights
Based on property information with market context.
The 1,180-square-foot property occupies approximately 0.26 acres and was built in 1970. A tenant has committed to the space with plans for restaurant operations. The lease runs through May 31, 2029, with maintenance assigned to the tenant and property taxes to the landlord.
Cleveland Avenue is served by COTA’s CMAX rapid transit. Public investment in the corridor includes sidewalks, lighting, and pedestrian infrastructure.
Cleveland Avenue is served by COTA’s CMAX rapid transit. Public investment in the corridor includes sidewalks, lighting, and pedestrian infrastructure.
Key Highlights
- 1,180‑square‑foot restaurant property on approximately 0.26 acres
- Tenant has leased the space and plans to open a restaurant
- Lease term extends through May 31, 2029
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,803
Cap Rate
2.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$316,060
$316.1K
Cap Rate 7%
$225,757
$225.8K
Cap Rate 9%
$175,589
$175.6K
Market Conditions
NOI Build-Up for 1,180 SF
Gross rent
$22.7K $19.20/SF
− Vacancy
−$1.6K −$1.34/SF
EGI
$21.1K $17.86/SF
− OpEx
−$5.3K −$4.46/SF
NOI
$15.8K $13.39/SF
Area
Columbus, OH
Vacancy
7.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$316,060
Cap Rate 7%
$225,757
Cap Rate 9%
$175,589
Alternative Uses
Best Use
Specialty Retail
$225.8K
$197.5K – $263.4K
NOI $15,803 @ 7.0% cap · market cap 2.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$245.9K
$215.2K – $286.9K
NOI $17,214 @ 7.0% cap · market cap 3.13%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
500
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43224, OH
43,544
Population
19,238
Households
2.3
Avg Household Size
34
Median Age
22%
College-Educated
79%
High-School Grad
8.3 sq mi
ZIP Area
5,246
Density / Sq Mi
$50,934
Median Household Income
$34,966
Median Earnings
$1,025
Median Rent
$159,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Conventional restaurants in Columbus
Vacancy Rate% for Retail in Columbus, OH
Frequently Asked Questions
What type of property is this?
Conventional restaurant - A tenant has leased the premises and intends to open a restaurant.
Where is this conventional restaurant located?
The property is located at 3764 Cleveland Avenue Columbus, OH.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 1,180‑square‑foot restaurant property on approximately 0.26 acres; Tenant has leased the space and plans to open a restaurant; Lease term extends through May 31, 2029
