Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    117 N Diamond St Mercer, PA 16137

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $975,000

    Established Mercer restaurant and tavern with real estate and equipment.

    Lot size:
    0.13 Acres
    Added:
    Sep 23, 2025
    Days on Market:
    193
    Last Refresh:
    Apr 1 at 8:23 pm

    Property Features for 117 N Diamond St

    General Information

    Standard status
    Active
    Lot size
    0.13 Acres

    We can help!

    Listing Contact
    Jim Bickel

    Listing agent Jim Bickel

    Listing office local real estate llc

    Listing date Sep 23, 2025

    Source Exprealty

    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 local real estate llc

    Overview

    Turn-Key Restaurant and Tavern Opportunity

    This turn-key business opportunity is located on Mercer's Historic Courthouse Square. The property includes a nightspot, restaurant, and tavern, complete with all equipment, inventory, real estate, and a liquor license. It is ready for immediate operation. The sale includes J. Hicks' Famous Wing Sauce recipes, previously featured in Pittsburgh area food and entertainment venues. Additional inclusions and updates feature a new walk-in cooler, a new walk-in freezer, and a new crowler machine. The draft system is also included. The second floor contains 3 apartments currently used for offices and storage space. These could be renovated for additional income or restaurant expansion.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    J. Hicks On The Square Bar & Pub

    Suggested Use

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

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

    Similar Places Nearby

    • Pitt Stop Pub — 430 S Erie St #1506, Mercer, PA 16137
    • The MUSTANG BAR — 711 Wilson Ave, Mercer, PA 16137
    • J. Hicks On The Square — 117 N Diamond St, Mercer, PA 16137

    Location Insight

    • Map
    • Local Demand
    City
    Mercer
    County
    Mercer
    State
    Pennsylvania
    Longitude
    -80.2391
    Latitude
    41.2274

    Nearby Similar for Sale

    • $239,999

      Unique Retail Opportunity with Log Cabin

      Four buildings on 1.33 acres near Springfield Falls.
      1007 Leesburg Station Rd, Springfield Twp, PA 16137
      View Details
    • $899,000

      Springfield Township Retail Opportunity

      5,200 SF building on 3.033 acres in C-1 district.
      100 American Way, Springfield Twp, PA 16137
      View Details
    • $225,000
      2,960 SF

      Mercer Retail Building For Sale

      2,960 SF retail building in Mercer, Pennsylvania.
      127 North Diamond Street, Mercer, PA, 16137
      View Details
    • $1,450,000

      Jefferson Estates Mobile Home Park

      Mobile home park in Mercer, PA with 42 pads.
      7992 W Market St, Mercer, PA 16137
      View Details
    • $60,000

      Mercer Borough Mobile Home Pads

      0.73-acre property with existing and potential mobile home pads.
      541 S Erie St, Mercer, PA 16137
      View Details

    FAQs

    What type of property is this?
    Bar & Pub - Established Mercer restaurant and tavern with real estate and equipment.
    Where is this bar & pub located?
    The property is located at 117 N Diamond St Mercer, PA.
    What is the asking price?
    The asking price for this property is $975,000.
    What are key features of this property?
    This property features: Turn‑key business opportunity: Includes all equipment, inventory, real estate, and liquor license.; Established and successful nightspot, restaurant & tavern in Mercer's Historic Courthouse Square.; Includes J. Hicks' Famous Wing Sauce recipes.
    (239) 221-8665
    We can help!
    Listing Contact
    Jim Bickel
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!