Corner Restaurant Lot with
For Sale
$399,000
410 Walnut St, New Richmond, OH 45157
Corner commercial lot with a recently renovated restaurant building, ADA restroom, and garage bay with car lift.
Property Size1,350 SF
Days on Market48
Property Features for 410 Walnut St
General Information
Standard status
Active
Size
1,350 SF
Class
C
Property subtype
Office
Building Details
Building Size
1,350 SF
Year Built
1966
Listed By:
Ben Trautmann
(513) 315-8629
Source:
Jatrealtors
Added: Jul 20
Changed: Aug 26
Last Checked: Sep 5 at 4:00AM
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 Ben Trautmann
Investment Insights
Based on property information with market context.
This offering includes a one-acre commercial lot improved with a recently renovated building totaling 1,365 square feet. The space is set up with an ADA restroom and utility hook up/grease trap suitable for restaurant use. A garage bay measures 14' by 27' and includes a car lift and floor drain, providing additional functional flexibility on site.
The property is located on the corner of St Rt 52 and Walnut St in New Richmond and features approximately 450 feet of frontage with a pylon sign, supporting strong visibility from the adjacent roadways.
Overall, the combination of a restaurant-ready building and a sizable corner lot with extensive frontage makes this a practical option for operators seeking an established on-site setup.
The property is located on the corner of St Rt 52 and Walnut St in New Richmond and features approximately 450 feet of frontage with a pylon sign, supporting strong visibility from the adjacent roadways.
Overall, the combination of a restaurant-ready building and a sizable corner lot with extensive frontage makes this a practical option for operators seeking an established on-site setup.
Key Highlights
- One‑acre corner commercial lot on St Rt 52 and Walnut St in New Richmond
- Approximately 450' of frontage with pylon sign
- 1,365 SF building recently renovated
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
$15,883
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
3.98%
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%
$317,660
$317.7K
Cap Rate 7%
$226,900
$226.9K
Cap Rate 9%
$176,478
$176.5K
Market Conditions
NOI Build-Up for 1,350 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
$28.4K $21.00/SF
− Vacancy
−$7.2K −$5.31/SF
EGI
$21.2K $15.69/SF
− OpEx
−$5.3K −$3.92/SF
NOI
$15.9K $11.77/SF
Area
Clermont County, OH
Vacancy
25.30%
Lease Rate
$21.00 /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%
$317,660
Cap Rate 7%
$226,900
Cap Rate 9%
$176,478
Alternative Uses
Best Use
Specialty Retail
$226.9K
$198.5K – $264.7K
NOI $15,883 @ 7.0% cap · market cap 3.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$242.0K
$211.8K – $282.4K
NOI $16,942 @ 7.0% cap · market cap 4.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
184
Businesses Nearby
26k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
7-Eleven
Shops & Services
9,579 visits/mo
0.2 miles
Speedway
Shops & Services
9,353 visits/mo
0.2 miles
Sunoco
Shops & Services
3,547 visits/mo
0.2 miles
Marathon Petroleum
Shops & Services
3,344 visits/mo
0.2 miles
Demographics for 45157, OH
9,705
Population
4,069
Households
2.4
Avg Household Size
42
Median Age
25%
College-Educated
91%
High-School Grad
41.1 sq mi
ZIP Area
236
Density / Sq Mi
$96,875
Median Household Income
$43,651
Median Earnings
$874
Median Rent
$232,700
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Corner commercial lot with a recently renovated restaurant building, ADA restroom, and garage bay with car lift.
Where is this commercial land located?
The property is located at 410 Walnut St New Richmond, OH.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: One‑acre corner commercial lot on St Rt 52 and Walnut St in New Richmond; Approximately 450' of frontage with pylon sign; 1,365 SF building recently renovated
