Building Details

Year Built 1996

Listing Agency: e-Merge Real Estate Excellence

Listed By: Heather Dalessandri · License #2012001207 Show Phone

Source: Crexi

Added: May 23, 2024 Changed: Aug 24 Last Checked: Aug 31 at 12:51AM

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Investment Insights

Based on property information with market context.

This commercial property presents an opportunity to own a business near Hocking Hills. The property is currently configured for take-out service, with equipment included in the sale. Potential exists to expand operations by adding dine-in and delivery services. The building offers room for business growth and potential expansion of the building size if desired. The property size is 1568 square feet.

Key Highlights

• Existing business opportunity near Hocking Hills
• Includes existing equipment for immediate operation
• Potential for increased revenue through dine‑in and delivery services

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

$16,899

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

4.23%

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%

$337,980 $338.0K

Cap Rate 7%

$241,414 $241.4K

Cap Rate 9%

$187,767 $187.8K

Market Conditions

NOI Build-Up for 1,568 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

$23.5K $15.00/SF

− Vacancy

−$988 −$0.63/SF

EGI

$22.5K $14.37/SF

− OpEx

−$5.6K −$3.59/SF

NOI

$16.9K $10.78/SF

Area

Ross County, OH

Vacancy

4.20%

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%

$337,980

Cap Rate 7%

$241,414

Cap Rate 9%

$187,767

Alternative Uses

Best Use

Specialty Retail

$241.4K

$211.2K – $281.7K (±1% cap)

NOI $16,899 @ 7.0% cap · market cap 4.23%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$295.9K

$258.9K – $345.2K (±1% cap)

NOI $20,713 @ 7.0% cap · market cap 5.18%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Conventional restaurants

Suggested Use

Top Pick Electrical Service Auto Repair Shop Garden Center (Bike/Boat/Book/etc) Store Big Box & Wholesale Store Barber Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

102

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 43101, OH

322

Population

157

Households

2.1

Avg Household Size

43

Median Age

15%

College-Educated

78%

High-School Grad

0.3 sq mi

ZIP Area

1,073

Density / Sq Mi

$36,563

Median Household Income

$41,750

Median Earnings

$869

Median Rent

$123,800

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this conventional restaurants located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Conventional restaurant - Restaurant business for sale near Hocking Hills with equipment.

Where is this conventional restaurant located?

The property is located at 11850 Walnut Street Adelphi, OH.

What is the asking price?

The asking price for this property is $399,900.

What are key features of this property?

This property features: Existing business opportunity near Hocking Hills; Includes existing equipment for immediate operation; Potential for increased revenue through dine‑in and delivery services