Turn-Key Bar/Lounge/Restaurant
8741 W Ridge Elyria, OH 44035
8741 W Ridge, Elyria, OH, 44035
$435,000
For Sale
$435,000
Stand-alone bar/lounge/restaurant ready for a new owner.
Property Size2,652 SF
Price / SF$164.03
Days on Market1050
Property Features for 8741 W Ridge
General Information
- Standard status
- Active
- Size
- 2,652 SF
- Property subtype
- Mixed Use
Building Details
- Year Built
- 1964
Listing Agency
Northern Ohio Realty
(440) 366-0099
Listed by
Kenneth Keiffer · License #2014000042
(440) 366-0099
Source
Xome
Added: Sep 5, 2023 Checked: Jul 19 at 1:53 am
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 Northern Ohio Realty
Investment Insights
Based on property information with market context.
This stand-alone neighborhood bar/lounge/restaurant, known as "The Pub", presents a turn-key opportunity for a new owner. The property features a recently replaced roof and an 80-space parking lot that has been redone, along with new landscaping. Much of the kitchen equipment has been updated, including freezers, a flat top, broiler, and grill. The 2,652 square foot building offers various possibilities, including two handicap-accessible ramps, updated bathrooms, and a finished basement with outside access suitable for private parties. "The Pub" was a popular venue known for its Karaoke and dart leagues. Situated in a diverse neighborhood, the property is surrounded by two new developments, multiple condos, and hundreds of apartments. The property is for sale only.
Key Highlights
- Turn‑key bar/lounge/restaurant opportunity, ready for new ownership.
- Recently replaced roof and redone 80‑space parking lot with new landscaping.
- Updated kitchen equipment including freezers, flat top, broiler, and grill.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $39.8k | $15.00 |
| − Vacancy | −$1.7k | −$0.63 |
| EGI | $38.1k | $14.37 |
| − OpEx | −$9.5k | −$3.59 |
| NOI | $28.6k | $10.78 |
2,652 SF · lease $15.00/SF/yr · vacancy 4.20% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$408.3K
$357.3K – $476.4K
NOI $28,582 @ 7.0% cap · market cap 6.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$668.3K
$584.8K – $779.7K
NOI $46,781 @ 7.0% cap · market cap 10.75%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Bars & Pubs
Similar For Sale Nearby
Similar Off Market Nearby
- Celebrations Disc Jockey — 394 Broad St, Elyria, OH 44035, United States
- Just One More — Elyria, OH 44035
- Boomers — 305 Broad St, Elyria, OH 44035
- Chris's Place — 515 Clark St, Elyria, OH 44035
- Bugsy's Speakeasy — 348 Broad St, Elyria, OH 44035
FAQs
What type of property is this?
Bar & Pub - Stand-alone bar/lounge/restaurant ready for a new owner.
Where is this bar & pub located?
The property is located at 8741 W Ridge Elyria, OH.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: Turn‑key bar/lounge/restaurant opportunity, ready for new ownership.; Recently replaced roof and redone 80‑space parking lot with new landscaping.; Updated kitchen equipment including freezers, flat top, broiler, and grill.
