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    5348 E Lake Road Sheffield Lake, OH 44054

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    Claim this Listing
    For Sale
    $700,000

    SINGLE_FAMILY - Sheffield Lake, OH

    Type:Retail
    Lot size:
    1.33 Acres
    Added:
    Mar 27, 2025
    Days on Market:
    399
    Last Refresh:
    Apr 29 at 11:06 am

    Property Features for 5348 E Lake Road

    General Information

    Property type
    Residential
    Property subtype
    Retail
    Rooms
    Basement
    Parking features
    Parking Lot
    Standard status
    Active
    APN
    03-00-033-104-012
    Lot size
    1.33 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    42 X 251.70
    Tax Annual Amount
    15324

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1996
    Floors in Building
    1
    Roof type
    Asphalt, Fiberglass

    We can help!

    Listing Contact
    Molly Szafran

    Listing agent Molly Szafran License #2019002806

    Listing office Russell Real Estate Services 36178 Center Ridge Road, Strongsville, OH

    Listing date Mar 27, 2025

    MLS# 5109955

    Copyright © 2026 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Lakefront Restaurant and Banquet Hall

    This property presents an opportunity to establish a destination venue on Lake Rd. The main dining area spans 1500 square feet and features a 53-foot long bar. An additional 600-square-foot dining room is suitable for private events or supplementary dining during peak times. The building also includes a 1600-square-foot banquet hall, currently under a month-to-month lease to a private billiards club. A basement bar offers potential as a VIP lounge or entertainment green room. The sale includes an adjacent 0.63-acre lot to the west of the restaurant, suitable for development such as outdoor volleyball or landscaped green space for events. The property is located in Sheffield Lake, OH, and is situated on a 1.33-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bars & Pubs

    Suggested Use

    Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Veterans of Foreign Wars — 577 harris rd, sheffield lake, oh 44054
    • Risko's — 4219 E Lake Rd, Sheffield Lake, OH 44054

    Location Insight

    • Map
    • Local Demand
    City
    Sheffield Lake
    County
    Lorain
    State
    Ohio
    Longitude
    -82.073499
    Latitude
    41.497185

    FAQs

    What type of property is this?
    Bar & Pub - Restaurant with banquet hall, bar, and development opportunity on 1.33 acres.
    Where is this bar & pub located?
    The property is located at 5348 E Lake Road Sheffield Lake, OH.
    What is the asking price?
    The asking price for this property is $700,000.
    What are key features of this property?
    This property features: Large 1500 sq ft main dining area with a **53 ft bar, ideal for a destination restaurant.**; Additional .63 acre lot included for **outdoor development** (volleyball, green space).; 1600 sq ft banquet hall currently leased, providing immediate income.
    (440) 822-8265
    We can help!
    Listing Contact
    Molly Szafran
    Real Estate License ID: 2019002806
    Learn More
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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.

    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
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