Downtown Akron Bar/Restaurant
For Sale
Contact for pricing
203-205 S Main St, Akron, OH
Bar/restaurant space for lease in downtown Akron.
Property Size3,140 SF
Lot Size0.24 Acres
Price / SF$262.74
Days on Market715
Property Features for 203-205 S Main St
General Information
Standard status
Active
Size
3,140 SF
Lot size
0.24 Acres
Property subtype
RETAIL
Listing Agency:
Hoff & Leigh
(330) 940-9360
Listed By:
Tom Franjesh · License #BRKP.2009002386
(330) 328-3327
Source:
Moodyscre
Added: Oct 1, 2024
Changed: Sep 9
Last Checked: Sep 15 at 6:49AM
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 Hoff & Leigh
Investment Insights
Based on property information with market context.
The property available for lease is a bar and restaurant space situated in downtown Akron. The space is located on the Main Street level of the building at 205 S Main Street. Its location is directly across the street from Lock 3 Park, a venue that hosts year-round activities including seasonal concerts, ice skating, and fireworks. The property contains mostly updated restaurant and bar equipment and has a size of 3140 square feet.
Key Highlights
- Amazing downtown Akron location directly across from Lock 3 Park
- High foot traffic due to year‑round activities at Lock 3 Park
- Existing bar/restaurant setup on the Main Street level
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
$37,985
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
4.60%
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%
$759,700
$759.7K
Cap Rate 7%
$542,643
$542.6K
Cap Rate 9%
$422,056
$422.1K
Market Conditions
NOI Build-Up for 3,140 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
$52.4K $16.68/SF
− Vacancy
−$1.7K −$0.55/SF
EGI
$50.6K $16.13/SF
− OpEx
−$12.7K −$4.03/SF
NOI
$38.0K $12.10/SF
Area
Akron, OH
Vacancy
3.30%
Lease Rate
$16.68 /SF/Yr
Expense Ratio
25.00%
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%
$759,700
Cap Rate 7%
$542,643
Cap Rate 9%
$422,056
Alternative Uses
Best Use
Specialty Retail
$542.6K
$474.8K – $633.1K
NOI $37,985 @ 7.0% cap · market cap 4.60%
Second Best
Retail
$506.5K
$443.2K – $590.9K
NOI $35,453 @ 7.0% cap · market cap 4.30%
Theoretical Best
Office A
$770.6K
$674.3K – $899.0K
NOI $53,941 @ 7.0% cap · market cap 6.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,044
Businesses Nearby
15k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 54%
Shops & Services 28%
Home Improvements & Furnishings 18%
Buffalo Wild Wings
Dining
3,663 visits/mo
0.3 miles
The Great Escape
Home Improvements & Furnishings
2,618 visits/mo
0.3 miles
PNC Bank
Shops & Services
2,112 visits/mo
0.3 miles
Insomnia Cookies
Dining
2,075 visits/mo
0.4 miles
Jimmy John's
Dining
1,632 visits/mo
0.4 miles
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Akron, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bar & Pub - Bar/restaurant space for lease in downtown Akron.
Where is this bar & pub located?
The property is located at 203-205 S Main St Akron, OH.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Amazing downtown Akron location directly across from Lock 3 Park; High foot traffic due to year‑round activities at Lock 3 Park; Existing bar/restaurant setup on the Main Street level
