Restaurant and Event
For Sale
$1,100,000
4210 12th Street NW, Canton, OH 44708
Established dining and banquet property with a commercial kitchen, event space, outdoor seating, and substantial parking.
Property Size12,000 SF
Price / SF$91.67
Days on Market23
Property Features for 4210 12th Street NW
General Information
Standard status
Active
Size
12,000 SF
Property subtype
Retail
Site & Location
Traffic Count
30,000 vehicles/day
Road Access
Yes
Restaurant
Patio
Yes
Equipment Included
Yes
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$17,914
Amenities
banquet room
full bar
multiple dining and gathering areas
Building Details
Year Built
1971
Buildings
1
Listing Agency:
Keller Williams Legacy Group Realty
(330) 605-4302
Listed By:
Megan Eckstein · License #2023001083
(330) 605-4302
Source:
Asacoxhomes
Added: Aug 8
Changed: Aug 30
Last Checked: Aug 30 at 12:57PM
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 Keller Williams Legacy Group Realty
Investment Insights
Based on property information with market context.
This established restaurant property combines full-service dining with a dedicated event operation in an approximately 12,000-square-foot commercial building. The layout includes multiple dining and gathering areas, a large banquet room, full bar, outdoor seating, and capacity for more than 300 guests. A fully equipped commercial kitchen includes two walk-in coolers, two walk-in freezers, and extensive restaurant infrastructure, with most existing equipment included in the sale.
The property occupies nearly 4 acres at 4210 12th Street NW in Canton, Ohio, with customer parking and frontage along 12th Street NW. Traffic counts exceed 30,000 vehicles per day, and the site is near the Pro Football Hall of Fame. Built in 1971, the property is configured for restaurant, banquet, and private-event use, subject to applicable zoning and governmental approvals.
The property occupies nearly 4 acres at 4210 12th Street NW in Canton, Ohio, with customer parking and frontage along 12th Street NW. Traffic counts exceed 30,000 vehicles per day, and the site is near the Pro Football Hall of Fame. Built in 1971, the property is configured for restaurant, banquet, and private-event use, subject to applicable zoning and governmental approvals.
Key Highlights
- Approximately 12,000‑square‑foot restaurant and event facility on nearly 4 acres
- Capacity for more than 300 guests across dining and gathering areas
- Commercial kitchen with two walk‑in coolers and two walk‑in freezers
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
$40,543
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
3.69%
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%
$810,860
$810.9K
Cap Rate 7%
$579,186
$579.2K
Cap Rate 9%
$450,478
$450.5K
Market Conditions
NOI Build-Up for 12,000 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
$58.9K $4.91/SF
− Vacancy
−$1.0K −$0.08/SF
EGI
$57.9K $4.83/SF
− OpEx
−$17.4K −$1.45/SF
NOI
$40.5K $3.38/SF
Area
Stark County, OH
Vacancy
1.70%
Lease Rate
$4.91 /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%
$810,860
Cap Rate 7%
$579,186
Cap Rate 9%
$450,478
Alternative Uses
Best Use
Specialty Retail
$1.86M
$1.63M – $2.18M
NOI $130,545 @ 7.0% cap · market cap 11.87%
Second Best
Industrial
$579.2K
$506.8K – $675.7K
NOI $40,543 @ 7.0% cap · market cap 3.69%
Theoretical Best
Retail
$3.13M
$2.74M – $3.66M
NOI $219,316 @ 7.0% cap · market cap 19.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
30,000 VPD
Traffic count
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
225
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44708, OH
25,386
Population
11,758
Households
2.2
Avg Household Size
44
Median Age
27%
College-Educated
93%
High-School Grad
10.1 sq mi
ZIP Area
2,513
Density / Sq Mi
$60,159
Median Household Income
$37,217
Median Earnings
$926
Median Rent
$164,500
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?
Conventional restaurant - Established dining and banquet property with a commercial kitchen, event space, outdoor seating, and substantial parking.
Where is this conventional restaurant located?
The property is located at 4210 12th Street NW Canton, OH.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Approximately 12,000‑square‑foot restaurant and event facility on nearly 4 acres; Capacity for more than 300 guests across dining and gathering areas; Commercial kitchen with two walk‑in coolers and two walk‑in freezers
