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    415 Oh-103 Bluffton, OH 45817

    • Restaurants
    • 2,500 SF
    • 2.20 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Restaurants

    Property Details for 415 Oh-103

    Lot size
    2.20 lot acres
    Property size
    2,500 SF
    Property type
    Restaurants

    Description

    This exceptional fast food or eat-in restaurant opportunity is located at 415 OH-103 in Bluffton, Ohio, 45817. The property boasts a 2,500 square foot building situated on 2.2 acres of land, offering ample space for operations and customer parking. With 100 parking spaces available, this location is well-equipped to handle high volumes of traffic. The building features a fully functional kitchen, cooler, and dining area, ready for immediate occupancy. The property benefits from a convenient location along OH-103, near I-75 at the St. Rt. 103 exit, placing it amongst other national restaurant chains in a high-traffic area. The property is zoned commercial (APN: 650001014067) and has 220-volt power. Annual property taxes are $1.91 per square foot. The lease is a single-tenant arrangement. This turnkey operation presents a significant opportunity for a fast-food establishment seeking a prime location in a thriving community, also home to Bluffton College. The monthly net rent is $3,500.

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Bluffton
    County
    Hancock
    State
    Ohio
    Longitude
    -83.8732
    Latitude
    40.892

    Comparable in this City

    • Value Estimation
      $325,000
      576 SF

      595 Main St

      DRIVE-THRU RESTAURANT, FAST FOOD • 576 SF
      595 Main St, Bluffton, OH 45817-1079
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    • Value Estimation
      $245,000
      1,344 SF

      467 State Rte 103

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,344 SF
      467 State Rte 103, Bluffton, OH 45817-9620
      View Details
    • Value Estimation
      $295,000
      2,813 SF

      505 State Rte 103

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,813 SF
      505 State Rte 103, Bluffton, OH 45817-9620
      View Details
    • Value Estimation
      $265,000
      3,074 SF

      113 Commerce Ln

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,074 SF
      113 Commerce Ln, Bluffton, OH 45817-8613
      View Details
    • Value Estimation
      $65,000
      1,918 SF

      555 Main St

      RESTAURANT • 1,918 SF
      555 Main St, Bluffton, OH 45817-1375
      View Details
    • Value Estimation
      $230,000
      3,696 SF

      133 Main St

      RESTAURANT • 3,696 SF
      133 Main St, Bluffton, OH 45817-1264
      View Details

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      Commercial Building with Operating Business

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    415 Oh-103
    Bluffton, OH 45817
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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