Free-Standing Restaurant with
For Sale
Contact for pricing
763 Chestnut St, Nelsonville, OH 45764
Free-standing former restaurant with a drive-thru window and strong visibility from US 23 in Nelsonville.
Property Size2,010 SF
Lot Size0.47 Acres
Price / SF$298.51
Days on Market81
Property Features for 763 Chestnut St
General Information
Standard status
Active
Size
2,010 SF
Lot size
0.47 Acres
Property subtype
RETAIL
Site & Location
Traffic Count
5,000 vehicles/day
Highway Access
Yes
Amenities
drive-thru window
Listing Agency:
Cardinal Commercial Real Estate
(614) 410-0301
Listed By:
Jeff Mattingly
(614) 403-8006
Source:
Moodyscre
Added: Jun 24
Changed: Aug 15
Last Checked: Sep 11 at 7:11AM
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 Cardinal Commercial Real Estate
Investment Insights
Based on property information with market context.
This free-standing restaurant building includes a drive-thru window and was most recently operated as a restaurant. The property size is 2,010 square feet and sits on approximately 0.47 acres.
Located at 763 Chestnut St in Nelsonville, Ohio, the site offers strong visibility from US 23. Public remarks also indicate approximately 5,000 ADT and that the property is positioned in the center of retail activity.
For buyers seeking an accessible drive-thru format with a dedicated restaurant building footprint, this property provides a straightforward starting point for repositioning in a high-visibility corridor.
Located at 763 Chestnut St in Nelsonville, Ohio, the site offers strong visibility from US 23. Public remarks also indicate approximately 5,000 ADT and that the property is positioned in the center of retail activity.
For buyers seeking an accessible drive-thru format with a dedicated restaurant building footprint, this property provides a straightforward starting point for repositioning in a high-visibility corridor.
Key Highlights
- Free‑standing former restaurant with a drive‑thru window
- 2,010 SF building on 0.47 acres
- Strong visibility from US 23 with approx. 5,000 ADT
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
$22,120
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
3.69%
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%
$442,400
$442.4K
Cap Rate 7%
$316,000
$316.0K
Cap Rate 9%
$245,778
$245.8K
Market Conditions
NOI Build-Up for 2,010 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
$35.0K $17.40/SF
− Vacancy
−$5.5K −$2.73/SF
EGI
$29.5K $14.67/SF
− OpEx
−$7.4K −$3.67/SF
NOI
$22.1K $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%
$442,400
Cap Rate 7%
$316,000
Cap Rate 9%
$245,778
Alternative Uses
Best Use
Specialty Retail
$316.0K
$276.5K – $368.7K
NOI $22,120 @ 7.0% cap · market cap 3.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$459.1K
$401.7K – $535.6K
NOI $32,134 @ 7.0% cap · market cap 5.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
5,000 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
300
Businesses Nearby
74k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 46%
Shops & Services 36%
Groceries 18%
McDonald's
Dining
17,182 visits/mo
0.5 miles
Kroger
Groceries
13,516 visits/mo
0.2 miles
Speedway
Shops & Services
8,115 visits/mo
0.3 miles
SONIC Drive In
Dining
6,432 visits/mo
0.3 miles
Taco Bell
Dining
6,383 visits/mo
0.1 miles
Demographics for 45764, OH
7,859
Population
3,525
Households
2.2
Avg Household Size
36
Median Age
12%
College-Educated
85%
High-School Grad
79.0 sq mi
ZIP Area
99
Density / Sq Mi
$47,978
Median Household Income
$31,688
Median Earnings
$761
Median Rent
$112,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - Free-standing former restaurant with a drive-thru window and strong visibility from US 23 in Nelsonville.
Where is this drive through restaurant located?
The property is located at 763 Chestnut St Nelsonville, OH.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Free‑standing former restaurant with a drive‑thru window; 2,010 SF building on 0.47 acres; Strong visibility from US 23 with approx. 5,000 ADT
