Conventional Restaurant
For Sale
$249,500
70 Columbus Rd, Athens, OH 45701
B-1-zoned property adjoining an R-2 zone, with prospective use subject to Athens City Code review.
Property Size2,030 SF
Price / SF$122.91
Days on Market26
Property Features for 70 Columbus Rd
General Information
Standard status
Active
Size
2,030 SF
Zoning
B-1
Additional Details
Asking Price
$249,500
Taxes and HOA fees
Annual Taxes
$4,724
Listing Agency:
Grueser Realty & Building
(740) 591-3015
Listed By:
Larry Conrath
(740) 591-3015
Source:
Exprealty
Added: Aug 6
Changed: Aug 30
Last Checked: Aug 30 at 7:38PM
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 Grueser Realty & Building
Investment Insights
Based on property information with market context.
This 2,030-square-foot conventional restaurant property is positioned as a flexible commercial asset at 70 Columbus Rd. in Athens. The existing property is described as a blank slate regarding future use, with no specific operating configuration or improvements identified in the available information.
The site carries B-1 zoning and abuts an R-2 zone. Any proposed use should be reviewed with the Athens City Code Office before proceeding, particularly where the intended operation differs from conventional restaurant use. The property address is 70 Columbus Rd, Athens, OH.
The site carries B-1 zoning and abuts an R-2 zone. Any proposed use should be reviewed with the Athens City Code Office before proceeding, particularly where the intended operation differs from conventional restaurant use. The property address is 70 Columbus Rd, Athens, OH.
Key Highlights
- 2,030‑square‑foot conventional restaurant property
- B‑1 zoning designation
- Abuts an R‑2 zone
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
$22,340
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
8.95%
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%
$446,800
$446.8K
Cap Rate 7%
$319,143
$319.1K
Cap Rate 9%
$248,222
$248.2K
Market Conditions
NOI Build-Up for 2,030 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
$35.3K $17.40/SF
− Vacancy
−$5.5K −$2.73/SF
EGI
$29.8K $14.67/SF
− OpEx
−$7.4K −$3.67/SF
NOI
$22.3K $11.01/SF
Area
Athens County, OH
Vacancy
15.67%
Lease Rate
$17.40 /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%
$446,800
Cap Rate 7%
$319,143
Cap Rate 9%
$248,222
Alternative Uses
Best Use
Specialty Retail
$319.1K
$279.3K – $372.3K
NOI $22,340 @ 7.0% cap · market cap 8.95%
Second Best
Retail
$205.4K
$179.8K – $239.7K
NOI $14,380 @ 7.0% cap · market cap 5.76%
Theoretical Best
Office A
$463.6K
$405.7K – $540.9K
NOI $32,453 @ 7.0% cap · market cap 13.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
195
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 45701, OH
33,705
Population
13,230
Households
2.5
Avg Household Size
27
Median Age
57%
College-Educated
95%
High-School Grad
148.6 sq mi
ZIP Area
227
Density / Sq Mi
$49,604
Median Household Income
$13,495
Median Earnings
$1,018
Median Rent
$217,700
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - B-1-zoned property adjoining an R-2 zone, with prospective use subject to Athens City Code review.
Where is this conventional restaurant located?
The property is located at 70 Columbus Rd Athens, OH.
What is the asking price?
The asking price for this property is $249,500.
What are key features of this property?
This property features: 2,030‑square‑foot conventional restaurant property; B‑1 zoning designation; Abuts an R‑2 zone
