Restaurant Space on High
For Sale
$700,000
6251 S High Street, Lockbourne, OH 43137
1,943 SF restaurant on 1.52 acres, high-traffic location.
Property Size1,943 SF
Lot Size1.52 Acres
Price / SF$360.27
Days on Market212
Property Features for 6251 S High Street
General Information
Standard status
Active
Size
1,943 SF
Lot size
1.52 Acres
Property subtype
Retail
Building Details
Building Size
1,943 SF
Year Built
1957
Listing Agency:
NAI Ohio Equities, LLC
Listed By:
Dan Sheeran · License #2016006190
(614) 581-2434
Source:
Ohioequities
Added: Mar 26
Changed: Oct 4
Last Checked: Oct 23 at 4:56AM
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 NAI Ohio Equities, LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The property features a 1,943 square foot restaurant space situated on 1.52 acres. It is located within a Community Commercial (CC) zone, approximately 12 miles south of downtown Columbus, and is also located in a designated Tax Incentive Opportunity Zone. The property is positioned at the signalized intersection of S High Street and SR 665, featuring approximately 160 feet of frontage along South High Street (SR 23). The location experiences strong daily traffic counts of around 36,551 vehicles. This location is suitable for fast food or fast-casual restaurants, gas stations, and motels.
Key Highlights
- High traffic location with approximately 36,551 vehicles daily.
- Large 1.52 acre lot in a Community Commercial (CC) zone.
- Located in a designated Tax Incentive Opportunity Zone.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,729
Cap Rate
3.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$554,580
$554.6K
Cap Rate 7%
$396,129
$396.1K
Cap Rate 9%
$308,100
$308.1K
Market Conditions
NOI Build-Up for 1,943 SF
Gross rent
$38.0K $19.56/SF
− Vacancy
−$1.0K −$0.53/SF
EGI
$37.0K $19.03/SF
− OpEx
−$9.2K −$4.76/SF
NOI
$27.7K $14.27/SF
Area
Franklin County, OH
Vacancy
2.72%
Lease Rate
$19.56 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$554,580
Cap Rate 7%
$396,129
Cap Rate 9%
$308,100
Alternative Uses
Best Use
Specialty Retail
$396.1K
$346.6K – $462.2K
NOI $27,729 @ 7.0% cap · market cap 3.96%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
24
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43137, OH
2,684
Population
968
Households
2.8
Avg Household Size
40
Median Age
19%
College-Educated
74%
High-School Grad
31.9 sq mi
ZIP Area
84
Density / Sq Mi
$57,167
Median Household Income
$34,732
Median Earnings
$1,297
Median Rent
$225,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Restaurant - 1,943 SF restaurant on 1.52 acres, high-traffic location.
Where is this restaurant located?
The property is located at 6251 S High Street Lockbourne, OH.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: High traffic location with approximately 36,551 vehicles daily.; Large 1.52 acre lot in a Community Commercial (CC) zone.; Located in a designated Tax Incentive Opportunity Zone.
