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$1,580,000
Est. payment /mo
11,088 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Restaurant
Listing Status Active
Purchase Type For Sale
Square Footage 11,088 sqft
Price per Sqft $142
MLS Listing ID 226035360
Year Built 1975
Annual Tax Amount $15,041
Lot Size 0.340 Acres
Lot Dimensions 0.34
Property Sub-Type Restaurant
Source Columbus and Central Ohio Regional MLS
Property Description
Prime investment opportunity in the heart of historic Canal Winchester! 17-23 S. High St. is an established commercial property featuring approximately 6,521 SF of restaurant space currently occupied by the long-standing tenant 'Shade on the Canal' restaurant. Operating continuously since 2004, the property offers a fully built-out restaurant with full-service bar, banquet/private dining space known as ''The Pine Room,'' and an inviting atmosphere designed for dining, entertainment, sporting events, and gatherings. Multiple TVs throughout the restaurant provide an ideal setting for game days and special events while maintaining a comfortable environment for conversation and dining.
The property is subject to a NNN lease through February 2034, providing an attractive long-term investment opportunity. Recent capital improvements include replacement of the rear shingle roof within the last two years and the front flat roof within the last four years. The exterior has also been recently painted, with doors reconditioned within the past year. The property benefits from a village-owned and maintained parking lot.
Adding further versatility and value, the rear portion of the building includes a second-floor 3-bedroom, 2-full-bath apartment featuring hardwood floors and appliances. Apartment rental income is not included in the brochure's disclosures. An exceptional opportunity to acquire a well-established commercial asset with a long-term tenant, significant restaurant infrastructure, and additional residential space in one of Canal Winchester's historic commercial areas.
The property is subject to a NNN lease through February 2034, providing an attractive long-term investment opportunity. Recent capital improvements include replacement of the rear shingle roof within the last two years and the front flat roof within the last four years. The exterior has also been recently painted, with doors reconditioned within the past year. The property benefits from a village-owned and maintained parking lot.
Adding further versatility and value, the rear portion of the building includes a second-floor 3-bedroom, 2-full-bath apartment featuring hardwood floors and appliances. Apartment rental income is not included in the brochure's disclosures. An exceptional opportunity to acquire a well-established commercial asset with a long-term tenant, significant restaurant infrastructure, and additional residential space in one of Canal Winchester's historic commercial areas.
Location
State OH
County Franklin
Area 0.34
Rooms
Other Rooms None
Dining Room No
Interior
Heating Forced Air
Equipment No
Laundry No Laundry Rooms
Others
Tax ID 184-000096
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Listed by William C Sorrell Sorrell & Company, Inc.
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Steven VanStone
Managing Partner + REALTOR License ID: 2020005493
Managing Partner + REALTOR License ID: 2020005493