Renovated Retail Restaurant
720 Medina St Lodi Medina, OH 44256
720 Medina St Lodi, Medina, OH, 44256
$279,000
For Sale
$279,000
Renovated retail building with a wide-open floor plan, new roof and siding, and room for expansion of parking.
Property Size2,337 SF
Lot Size0.75 Acres
Price / SF$119.38
Days on Market18
Property Features for 720 Medina St Lodi
General Information
- Standard status
- Active
- Size
- 2,337 SF
- Lot size
- 0.75 Acres
Building Details
- Year Built
- 1940
Listing agency
(614) 660-5959
Listed by
Jim Fallieras
(614) 660-5959
Source
Movenowohio
Added: Jul 4 Updated: Jul 21 at 12:10AM Checked: Jul 21 at 3:32AM
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 Jim Fallieras
Investment Insights
Based on property information with market context.
Zoned Commercial and formerly used as a longtime community diner, this property was renovated beginning around 2019 with a complete gut job. Improvements include new framing and trusses, a new roof, new white vertical siding, and new black vinyl windows, resulting in a refreshed interior layout with a wide-open floor plan. The building contains approximately 2,337 total square feet. A shed built in 1980 is also on-site and could be finished for additional use or kept for storage.
The property is situated on a site described as approximately 0.75 acres, with room for a large parking lot right off Rt 224. It is noted as being in close proximity to I-71, and the surrounding area is characterized by access, parking, and traffic. Nearby traffic counts are provided as 3,000–10,000 cars per day.
The interior configuration is designed to accommodate flexible tenant needs, and the renovations position the building to be finished to the specific requirements of an incoming business or organization.
The property is situated on a site described as approximately 0.75 acres, with room for a large parking lot right off Rt 224. It is noted as being in close proximity to I-71, and the surrounding area is characterized by access, parking, and traffic. Nearby traffic counts are provided as 3,000–10,000 cars per day.
The interior configuration is designed to accommodate flexible tenant needs, and the renovations position the building to be finished to the specific requirements of an incoming business or organization.
Key Highlights
- Renovated 2,337 SF commercial building on a 0.75‑acre lot (stone and vinyl siding).
- Renovations began around 2019 with a complete gut job, including new framing and trusses.
- New roof, new white vertical siding, and new black vinyl windows.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $13.7k | $5.88 |
| − Vacancy | −$492 | −$0.21 |
| EGI | $13.2k | $5.67 |
| − OpEx | −$4.0k | −$1.70 |
| NOI | $9.3k | $3.97 |
2,337 SF · lease $5.88/SF/yr · vacancy 3.58% · expense 30.00%
Alternative Uses
Best Use
Retail
$132.5K
$115.9K – $154.6K
NOI $9,275 @ 7.0% cap · market cap 3.32%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$651.9K
$570.4K – $760.5K
NOI $45,630 @ 7.0% cap · market cap 16.35%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Renovated retail building with a wide-open floor plan, new roof and siding, and room for expansion of parking.
Where is this retail space located?
The property is located at 720 Medina St Lodi Medina, OH.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: Renovated 2,337 SF commercial building on a 0.75‑acre lot (stone and vinyl siding).; Renovations began around 2019 with a complete gut job, including new framing and trusses.; New roof, new white vertical siding, and new black vinyl windows.
