Renovated Freestanding Restaurant
New
For Sale
Contact for pricing
463 W Town St, Columbus, OH 43215
Includes a commercial kitchen, bar, private restrooms, and rooftop patio.
Property Size4,936 SF
Price / SF$303.89
Days on Market7
Property Features for 463 W Town St
General Information
Standard status
Active
Size
4,936 SF
Property subtype
RETAIL
Additional Details
Asking Price
$1,500,000
Patio
Yes
Building Details
Year Renovated
2018
Listing Agency:
Roth Real Estate Group
(614) 224-8660
Listed By:
Scott Steidel
(614) 404-1423
Source:
Moodyscre
Added: Sep 1
Changed: Sep 6
Last Checked: Sep 7 at 6:57AM
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 Roth Real Estate Group
Investment Insights
Based on property information with market context.
This 4,936-square-foot freestanding restaurant property combines a full commercial kitchen, bar service area, private restrooms, and established restaurant infrastructure. Renovated in 2018, the building includes dining and entertainment areas along with a second-floor rooftop patio. The layout supports continued restaurant use and other hospitality or entertainment applications.
The property is located at 463 W Town St in Columbus’ Franklinton neighborhood, near Gravity, The Peninsula, and downtown Columbus. It was previously occupied by BrewDog, providing an existing restaurant setting with physical improvements already in place.
The property is located at 463 W Town St in Columbus’ Franklinton neighborhood, near Gravity, The Peninsula, and downtown Columbus. It was previously occupied by BrewDog, providing an existing restaurant setting with physical improvements already in place.
Key Highlights
- 4,936 SF freestanding restaurant/bar property
- Extensively renovated in 2018
- Full commercial kitchen and bar
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
$66,103
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
4.41%
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%
$1,322,060
$1.3M
Cap Rate 7%
$944,329
$944.3K
Cap Rate 9%
$734,478
$734.5K
Market Conditions
NOI Build-Up for 4,936 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
$94.8K $19.20/SF
− Vacancy
−$6.6K −$1.34/SF
EGI
$88.1K $17.86/SF
− OpEx
−$22.0K −$4.46/SF
NOI
$66.1K $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 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%
$1,322,060
Cap Rate 7%
$944,329
Cap Rate 9%
$734,478
Alternative Uses
Best Use
Specialty Retail
$944.3K
$826.3K – $1.10M
NOI $66,103 @ 7.0% cap · market cap 4.41%
Second Best
Industrial
$278.8K
$244.0K – $325.3K
NOI $19,518 @ 7.0% cap · market cap 1.30%
Theoretical Best
Office A
$1.03M
$900.1K – $1.20M
NOI $72,008 @ 7.0% cap · market cap 4.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
7,385
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43215, OH
20,761
Population
13,428
Households
1.5
Avg Household Size
32
Median Age
71%
College-Educated
97%
High-School Grad
5.1 sq mi
ZIP Area
4,071
Density / Sq Mi
$74,469
Median Household Income
$59,521
Median Earnings
$1,487
Median Rent
$508,300
Median Home Value
Market
Vacancy Rate% for Retail in Columbus, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Includes a commercial kitchen, bar, private restrooms, and rooftop patio.
Where is this conventional restaurant located?
The property is located at 463 W Town St Columbus, OH.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 4,936 SF freestanding restaurant/bar property; Extensively renovated in 2018; Full commercial kitchen and bar
