Remodeled Restaurant
For Sale
$640,000
740 N Fifth Street Fremont, Fremont, OH 43420
Remodeled 1958 building operating as a coffee shop with a new 2020 kitchen and updated dining areas.
Property Size4,963 SF
Price / SF$128.95
Days on Market40
Property Features for 740 N Fifth Street Fremont
General Information
Standard status
Active
Size
4,963 SF
Total Parking Spaces
24
Zoning
Commercial,Other
Amenities
Yes
ON
Public Records
Public
24.00
0.2756
2322206.10
No
Cedar,Stone,Wood
Building Details
Year Built
1958
Year Renovated
2020
Stories
1
Listing Agency:
Wendt Key Team Realty Ltd
(614) 660-5959
Listed By:
Bernice Banquaio
(614) 660-5959
Source:
Movenowohio
Added: Jul 18
Changed: Aug 25
Last Checked: Aug 26 at 6:52AM
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 Wendt Key Team Realty Ltd
Investment Insights
Based on property information with market context.
This remodeled 1958 building is currently operating as a coffee shop and offers baked goods, salads, and a lunch menu. The property features multiple seating areas intended to support groups that want space to talk, play games or cards, or hold meetings. Restaurant equipment may be negotiated as part of the sale.
The kitchen was fully brand new in 2020, along with major updates to the roof, bathrooms, and eating areas. The bathrooms include tiled floors and partial wall tile.
Overall, the improvements completed in 2020 provide a turnkey foundation for the existing foodservice concept, with the flexibility to operate as-is or adjust operations based on the needs of the buyer.
The kitchen was fully brand new in 2020, along with major updates to the roof, bathrooms, and eating areas. The bathrooms include tiled floors and partial wall tile.
Overall, the improvements completed in 2020 provide a turnkey foundation for the existing foodservice concept, with the flexibility to operate as-is or adjust operations based on the needs of the buyer.
Key Highlights
- Remodeled 1958 building operating as a coffee shop with baked goods, salads, and a lunch menu
- Extensively remodeled in 2020, including a brand‑new kitchen
- 2020 updates include the roof, bathrooms, and eating areas
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
$53,321
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
8.33%
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%
$1,066,420
$1.1M
Cap Rate 7%
$761,729
$761.7K
Cap Rate 9%
$592,456
$592.5K
Market Conditions
NOI Build-Up for 4,963 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
$74.4K $15.00/SF
− Vacancy
−$3.4K −$0.68/SF
EGI
$71.1K $14.33/SF
− OpEx
−$17.8K −$3.58/SF
NOI
$53.3K $10.74/SF
Area
Sandusky County, OH
Vacancy
4.50%
Lease Rate
$15.00 /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%
$1,066,420
Cap Rate 7%
$761,729
Cap Rate 9%
$592,456
Alternative Uses
Best Use
Specialty Retail
$761.7K
$666.5K – $888.7K
NOI $53,321 @ 7.0% cap · market cap 8.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$936.6K
$819.5K – $1.09M
NOI $65,559 @ 7.0% cap · market cap 10.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
146
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43420, OH
29,332
Population
13,876
Households
2.1
Avg Household Size
43
Median Age
19%
College-Educated
94%
High-School Grad
136.3 sq mi
ZIP Area
215
Density / Sq Mi
$62,802
Median Household Income
$39,779
Median Earnings
$824
Median Rent
$142,400
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?
Coffee shop - Remodeled 1958 building operating as a coffee shop with a new 2020 kitchen and updated dining areas.
Where is this coffee shop located?
The property is located at 740 N Fifth Street Fremont Fremont, OH.
What is the asking price?
The asking price for this property is $640,000.
What are key features of this property?
This property features: Remodeled 1958 building operating as a coffee shop with baked goods, salads, and a lunch menu; Extensively remodeled in 2020, including a brand‑new kitchen; 2020 updates include the roof, bathrooms, and eating areas
