Building Details

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Listing Agency: SBRE - Sherry Bauer Real Estate

Listed By: Sherry Bauer · License #PA RM422666 Show Phone

Source: Crexi

Added: Sep 14 Changed: Sep 16 Last Checked: Sep 18 at 8:24AM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SBRE - Sherry Bauer Real Estate

Investment Insights

Based on property information with market context.

This 5,119± SF mixed-use building combines an established bar and tavern with three residential units. The 2,999± SF first floor provides seating for approximately 21 at the bar and more than 35 at tables, along with gaming and pool table areas, four restrooms, an office, storage, and a walk-in cooler. The sale includes the PA liquor license, equipment, and goodwill. A newer rubber roof serves the building, which has public utilities.

The 2,120± SF second floor contains one two-bedroom, one-bath apartment, one one-bedroom, one-bath apartment, and one efficiency. The property occupies two parcels totaling 0.2± acres in downtown Girard at 103 Main Street West, along Main Street and Route 20. A large paved private parking lot is accessible from S. Park Row, and the location recorded 11,000 average daily traffic in the PennDOT 2025 count year.

Key Highlights

• 5,119± SF mixed‑use building on two parcels totaling 0.2± acres
• 2,999± SF first‑floor bar and tavern with seating for ±21 at the bar and 35+ at tables
• Second floor contains 3 apartments totaling 2,120± SF: 2‑bedroom, 1‑bedroom, and efficiency units

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$31,461

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

7.32%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$629,220 $629.2K

Cap Rate 7%

$449,443 $449.4K

Cap Rate 9%

$349,567 $349.6K

Market Conditions

NOI Build-Up for 5,119 SF Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent. EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs. OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements. NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.

Gross rent

$59.6K $11.64/SF

− Vacancy

−$2.4K −$0.47/SF

EGI

$57.2K $11.17/SF

− OpEx

−$25.7K −$5.03/SF

NOI

$31.5K $6.15/SF

Area

Erie County, PA

Vacancy

4.00%

Lease Rate

$11.64 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$629,220

Cap Rate 7%

$449,443

Cap Rate 9%

$349,567

Alternative Uses

Best Use

Specialty Retail

$1.03M

$899.3K – $1.20M (±1% cap)

NOI $71,942 @ 7.0% cap · market cap 16.73%

Second Best

Mixed Use

$740.4K

$647.9K – $863.8K (±1% cap)

NOI $51,830 @ 7.0% cap · market cap 12.05%

Theoretical Best

Office A

$1.27M

$1.11M – $1.48M (±1% cap)

NOI $88,899 @ 7.0% cap · market cap 20.67%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Girard Cafe Aka ... Bar & Pub

Suggested Use

Top Pick Real Estate Agency Law Firm Building Supply Electrical Service Dental Office Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Residential units

Turnkey business

Opportunity

Yes

Paved road access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

258

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 16417, PA

8,109

Population

4,165

Households

1.9

Avg Household Size

45

Median Age

30%

College-Educated

97%

High-School Grad

48.0 sq mi

ZIP Area

169

Density / Sq Mi

$80,410

Median Household Income

$44,722

Median Earnings

$666

Median Rent

$179,900

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this bars & pubs located? What is the asking price? Find similar properties What are key features of this property?

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Similar Off Market Nearby

• Happy Hour Pub & Grub — 228 Main St W, Girard, PA 16417
• Happy Hour Pub & Grub, Smokebuddys Smoke Shop, Skill Game Center — 228 Main St W, Girard, PA 16417
• Girard Cafe Aka Ralphie's — 103 main st w, girard, pa 16417
• Girard Beer Distribution — 36 Wall St, Girard, PA 16417

Frequently Asked Questions

What type of property is this?

Bar & Pub - Licensed tavern operation with three apartments, equipment, public utilities, and private paved parking.

Where is this bar & pub located?

The property is located at 103 Main Street West Girard, PA.

What is the asking price?

The asking price for this property is $430,000.

What are key features of this property?

This property features: 5,119± SF mixed‑use building on two parcels totaling 0.2± acres; 2,999± SF first‑floor bar and tavern with seating for ±21 at the bar and 35+ at tables; Second floor contains 3 apartments totaling 2,120± SF: 2‑bedroom, 1‑bedroom, and efficiency units