Established Restaurant on High-Traffic
For Sale
Contact for pricing
1565 Marion-Waldo Rd, Marion, OH 43302
Turn-key restaurant opportunity on a high-traffic road with ample parking.
Property Size3,840 SF
Lot Size1.00 Acre
Price / SF$117.16
Days on Market2017
Property Features for 1565 Marion-Waldo Rd
General Information
Standard status
Active
Size
3,840 SF
Total Parking Spaces
50
Lot size
1.00 Acre
Property subtype
Retail
Building Details
Year Built
1973
Year Renovated
2016
Stories
1
Listing Agency:
RE/MAX Connection, Realtors
Listed By:
DeLena Ciamacco · License #367326
(614) 882-6725
Source:
Crexi
Added: Apr 8, 2021
Changed: Oct 3
Last Checked: Oct 14 at 10:59PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,995
Cap Rate
3.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$319,900
$319.9K
Cap Rate 7%
$228,500
$228.5K
Cap Rate 9%
$177,722
$177.7K
Market Conditions
NOI Build-Up for 3,840 SF
Gross rent
$22.1K $5.76/SF
− Vacancy
−$792 −$0.21/SF
EGI
$21.3K $5.55/SF
− OpEx
−$5.3K −$1.39/SF
NOI
$16.0K $4.17/SF
Area
Marion County, OH
Vacancy
3.58%
Lease Rate
$5.76 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$319,900
Cap Rate 7%
$228,500
Cap Rate 9%
$177,722
Alternative Uses
Best Use
Office B
$674.1K
$589.8K – $786.5K
NOI $47,187 @ 7.0% cap · market cap 10.49%
Second Best
Specialty Retail
$228.5K
$199.9K – $266.6K
NOI $15,995 @ 7.0% cap · market cap 3.56%
Theoretical Best
Office A
$775.1K
$678.3K – $904.3K
NOI $54,260 @ 7.0% cap · market cap 12.06%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
908
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43302, OH
54,094
Population
22,483
Households
2.4
Avg Household Size
41
Median Age
13%
College-Educated
88%
High-School Grad
195.0 sq mi
ZIP Area
277
Density / Sq Mi
$53,833
Median Household Income
$36,816
Median Earnings
$853
Median Rent
$139,700
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
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 $449,900.
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.
