Established Restaurant on High-Traffic
1565 Marion-Waldo Rd Marion, OH 43302
1565 Marion-Waldo Rd, Marion, OH, 43302
Contact for pricing
For Sale
Contact for pricing
Turn-key restaurant opportunity on a high-traffic road with ample parking.
Property Size3,840 SF
Lot Size1.00 Acre
Price / SF$123.67
Days on Market1927
Property Features for 1565 Marion-Waldo Rd
General Information
- Standard status
- Active
- Size
- 3,840 SF
- Lot size
- 1.00 Acre
- Property subtype
- Retail
Building Details
- Year Built
- 1973
Listing Agency
RE/MAX Connection, Realtors
(614) 882-6725
Listed by
DeLena Ciamacco · License #367326
Source
Crexi
Added: Apr 8, 2021 Checked: Jul 16 at 5:20 am
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 RE/MAX Connection, Realtors
Investment Insights
Based on property information with market context.
This established restaurant and diner is situated on a high-traffic road, conveniently located near businesses, shopping centers, and industry. The property includes a 1+ acre lot with approximately 50 parking spaces. Owned and operated by the same family for 20 years, the turn-key restaurant has been impeccably maintained. The interior was remodeled in 2016 for approximately $100,000. Seating is available for approximately 180 patrons, including a banquet area, two main dining areas, and bar seating. The building has over 3,800 square feet and includes a walk-up basement suitable for storage and deliveries. A drive-through window is located at the rear of the building. The property's location and features make it suitable for various uses, including offices, a church, medical facility, bank, car lot or automotive business, or fast food establishment, subject to zoning regulations. The property is located near local schools.
Key Highlights
- Established turn‑key restaurant/diner with 20 years of family ownership.
- Located on a very busy, high‑traffic road near businesses and shopping.
- Large 1+ acre lot with ~50 parking spaces and drive‑through window.
Local Financial Insights For Specialty 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 | $22.1k | $5.76 |
| − Vacancy | −$792 | −$0.21 |
| EGI | $21.3k | $5.55 |
| − OpEx | −$5.3k | −$1.39 |
| NOI | $16.0k | $4.17 |
3,840 SF · lease $5.76/SF/yr · vacancy 3.58% · expense 25.00%
Alternative Uses
Best Use
Office B
$674.1K
$589.8K – $786.5K
NOI $47,187 @ 7.0% cap · market cap 9.94%
Second Best
Specialty Retail
$228.5K
$199.9K – $266.6K
NOI $15,995 @ 7.0% cap · market cap 3.37%
Theoretical Best
Office A
$775.1K
$678.3K – $904.3K
NOI $54,260 @ 7.0% cap · market cap 11.43%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Conventional restaurants
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Turn-key restaurant opportunity on a high-traffic road with ample parking.
Where is this conventional restaurant located?
The property is located at 1565 Marion-Waldo Rd Marion, OH.
What is the asking price?
The asking price for this property is $474,900.
What are key features of this property?
This property features: Established turn‑key restaurant/diner with 20 years of family ownership.; Located on a very busy, high‑traffic road near businesses and shopping.; Large 1+ acre lot with ~50 parking spaces and drive‑through window.
