Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    118 Un St Newark, OH 43055-3938

    • Turn key restaurants
    • 4,048 SF
    • 0.15 lot acres
    OFF-MARKET
    Last Sale
    Nov 19, 2024
    $128,500
    Value Estimations
    $145,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-5358100
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Turn key restaurants

    Property Details for 118 Un St

    Year built
    1900
    Lot size
    0.15 lot acres
    Property size
    4,048 SF
    Property type
    Turn key restaurants
    APN
    054-216882-00.000
    APU
    5421688200000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $130,000
      ML approach
      $130,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $197,000
      Market price range: $197k - $750k
      AI Estimate
      $210,000
      Market price range: $210k - $500k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    Licking
    State
    Ohio
    Longitude
    -82.4204
    Latitude
    40.0507
    CBSA code
    18140
    CBSA name
    COLUMBUS, OH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $667
    $15,090
    $1,050
    $16,140
    -
    $43,100
    $3,000
    $46,100

    Comparable in this City

    • Value Estimation
      $225,000
      1,850 SF

      2255 High St

      RESTAURANT • 1,850 SF
      2255 High St, Newark, OH 43055-9488
      View Details
    • Value Estimation
      $265,000
      2,880 SF

      1225 Church St

      RESTAURANT • 2,880 SF
      1225 Church St, Newark, OH 43055-2101
      View Details
    • Value Estimation
      $225,000
      4,559 SF

      15 Main St

      RESTAURANT • 4,559 SF
      15 Main St, Newark, OH 43055-5503
      View Details
    • Value Estimation
      $285,000
      4,000 SF

      1976 Granville Rd

      RESTAURANT • 4,000 SF
      1976 Granville Rd, Newark, OH 43055-9799
      View Details
    • Value Estimation
      $260,000
      6,672 SF

      1671 21st St

      RESTAURANT • 6,672 SF
      1671 21st St, Newark, OH 43055-3147
      View Details
    • Value Estimation
      $290,000
      2,769 SF

      964 21st St

      RESTAURANT • 2,769 SF
      964 21st St, Newark, OH 43055-2922
      View Details

    Similar Nearby for Sale

    • $249,900
      1,984 SF

      Turnkey Restaurant Opportunity For Sale

      Turnkey restaurant with equipment included, subdivision potential, high visibility.
      391 W Main St, Newark, OH 43055
      View Details
    • $175,000
      3,950 SF

      Established Pizza Business Opportunity

      Thriving pizza business with loyal customer base and growth potential.
      318 Hudson Ave, Newark, OH 43055
      View Details
    • $649,900
      8,316 SF

      Historic Downtown Newark Mixed-Use Property

      Three-story property in historic downtown Newark with multiple business possibilities.
      5 N 3Rd St, Newark, OH 43055
      View Details
    • $2,515,000
      10,242 SF

      Newark CVS Pharmacy Investment

      High-yield, NNN-leased CVS pharmacy.
      955 21St St, Newark, OH 43055
      View Details
    • $575,000
      3,911 SF

      Downtown Newark Office Building

      Historic office building with parking in vibrant downtown location.
      126 W Church St, Newark, OH 43055
      View Details
    • $849,000
      16,600 SF

      Multi-Tenant Income Property For Sale

      16,600 SF multi-tenant property with long-term tenants.
      951 Buckeye Ave, Newark, OH 43055
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,200 SF

      Adaptable Space for Lease

      3,200 SF space ideal for bar or restaurant.
      22 N Park Pl, Newark, OH 43055
      View Details
    • $12 SF/Yr
      2,645 SF

      Commercial Space in Newark, OH

      Office building for lease, currently operating as a saloon.
      22 N Street Rd, Newark, OH 43055
      View Details
    • $21 SF/Yr
      2,746 SF

      Revived Retail Space Available

      2,746 SF space in renovated 114-year-old building.
      33 N 3Rd St, Newark, OH 43055
      View Details
    • Contact for pricing
      8,872 SF

      Retail Space in Newark, Ohio

      Retail spaces available in Newark, offering accessibility and visibility.
      1640-1680 N 21St St, Newark, OH 43055
      View Details
    • $975 /Mo
      6,400 SF

      Versatile Space in Newark, OH

      Move-in-ready space suitable for retail, office, or service-based businesses.
      124 S 30Th St, Newark, OH 43055
      View Details
    • $3 SF/Yr
      50,000 SF

      Creative Space in Newark Station

      Transformed warehouse offering creative spaces, retail, and dining options.
      325 W Main St, Newark, OH 43055
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    118 Un St
    Newark, OH 43055-3938
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.