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Property profile & analytics
OFF-MARKET
Turn key restaurants

7511 Lafayette Rd Lodi, OH 44254-9735

2,600 SF 1.59 ac lot Built 1948
Individually Owned 6-yr Hold Free & Clear
Property ID
US66-0660603
Property summary
AI-generated overview

This exceptional mixed-use property in Lodi, Ohio, presents a unique investment opportunity. Located on a spacious 1.59-acre lot at 7511 Lafayette Rd, this 4,320 square foot building boasts a fully equipped restaurant and a 2-bedroom, 1-bathroom apartment. Previously operated as a restaurant from 2016-2022, the commercial space includes all contents: two walk-in coolers, a full bar, kitchen equipment, seating, and patio furniture. Significant recent upgrades enhance its appeal: a new gas line (2022), new furnace and electrical system (2022) for the restaurant, and a new commercial septic system (2022). Further improvements include newer windows, siding, roof, and well (2016-2019). The property is handicap accessible and zoned for restaurant/bar use. The asking price is $189,900, translating to $43.96 per square foot. With ample parking for 50 vehicles, this Class C building, constructed in 1948 and renovated in 2016, offers significant potential for a variety of uses. The property is being sold "as is." This is a rare chance to acquire a turn-key operation with substantial recent investments in a desirable Medina County location. The property is currently vacant.

Property profile
Verified
Property type Turn key restaurants
Use group RESTAURANT
Year built 1948
Construction WOOD
Total area 2,600 SF
Lot 1.59 ac (69,260 SF)
APN 020-10C-31-013
UPID US66-0660603
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
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Comparable Approach Comparable
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Owner & transaction history
Ronald L Mellott · 6 yrs held
Ronald L Mellott
since 2020
Last sale
$87,500
7 recorded transactions
2020
Price N/A
2020
Price N/A
2020
$87,500
2016
Price N/A
2013
$80,000
2004
$150,000
1969
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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