Restaurant Building with Pizza
For Sale
$350,000
4861 N Ridge, Ashtabula, OH 44004
Existing dining, kitchen, restroom, and refrigeration improvements support restaurant operations.
Property Size2,448 SF
Price / SF$142.97
Days on Market38
Property Features for 4861 N Ridge
General Information
Standard status
Active
Size
2,448 SF
Building Details
Year Built
1974
Listing Agency:
Assured Real Estate
(440) 812-8391
Listed By:
Raegan Hagerdon · License #2011000229
Source:
Theacclaimedrealty
Added: Jul 24
Changed: Aug 28
Last Checked: Aug 29 at 11:40AM
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 Assured Real Estate
Investment Insights
Based on property information with market context.
This restaurant property includes a dedicated dining area, public restrooms, walk-in coolers, and a fully functional kitchen equipped with 2 pizza ovens. The building also has 2 gas furnaces and a roof reported to be approximately 10 years old. Its prior operation was a pizza restaurant, and the property has remained under one family’s ownership as a restaurant.
Constructed in 1974, the building previously served as a bank before its restaurant use. Located at 4861 N Ridge in Ashtabula, Ohio, the property offers an existing commercial structure with restaurant-oriented improvements and the flexibility to support continued food-service use or another business concept.
Constructed in 1974, the building previously served as a bank before its restaurant use. Located at 4861 N Ridge in Ashtabula, Ohio, the property offers an existing commercial structure with restaurant-oriented improvements and the flexibility to support continued food-service use or another business concept.
Key Highlights
- Restaurant building with dining area, public restrooms, walk‑in coolers, and functional kitchen
- Kitchen includes 2 pizza ovens
- 2 gas furnaces serve the building
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
$24,695
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
7.06%
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%
$493,900
$493.9K
Cap Rate 7%
$352,786
$352.8K
Cap Rate 9%
$274,389
$274.4K
Market Conditions
NOI Build-Up for 2,448 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
$34.4K $14.04/SF
− Vacancy
−$1.4K −$0.59/SF
EGI
$32.9K $13.45/SF
− OpEx
−$8.2K −$3.36/SF
NOI
$24.7K $10.09/SF
Area
Ashtabula County, OH
Vacancy
4.20%
Lease Rate
$14.04 /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%
$493,900
Cap Rate 7%
$352,786
Cap Rate 9%
$274,389
Alternative Uses
Best Use
Specialty Retail
$352.8K
$308.7K – $411.6K
NOI $24,695 @ 7.0% cap · market cap 7.06%
Second Best
Industrial
$120.9K
$105.8K – $141.1K
NOI $8,464 @ 7.0% cap · market cap 2.42%
Theoretical Best
Office A
$456.2K
$399.2K – $532.2K
NOI $31,933 @ 7.0% cap · market cap 9.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
43
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44004, OH
31,661
Population
15,262
Households
2.1
Avg Household Size
44
Median Age
15%
College-Educated
87%
High-School Grad
74.1 sq mi
ZIP Area
427
Density / Sq Mi
$49,507
Median Household Income
$31,471
Median Earnings
$813
Median Rent
$120,300
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 - Existing dining, kitchen, restroom, and refrigeration improvements support restaurant operations.
Where is this conventional restaurant located?
The property is located at 4861 N Ridge Ashtabula, OH.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Restaurant building with dining area, public restrooms, walk‑in coolers, and functional kitchen; Kitchen includes 2 pizza ovens; 2 gas furnaces serve the building
