12 W Main Street, Russellville, OH 45168

Building Details

Building Size 1,440 SF More

Listing Agency: Ragan McKinney Real Estate

Listed By: Ragan McKinney · License OH #160440 Show Phone

Source: Galbraithrealtors

Added: Jan 2 Changed: Nov 8 Last Checked: Nov 8 at 9:32PM

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Investment Insights

Based on property information with market context.

Chelsee’s Tavern is an operating tavern business offered with Ohio D1, D2, D3, D3A and D6 liquor permits. Transfer of the permits requires applicable approvals.

The business is situated at a four-way intersection, a short distance from SR 32.

Key Highlights

• Includes Ohio D1, D2, D3, D3A and D6 liquor permits, subject to transfer approvals
• Located at a four‑way intersection, minutes from SR 32

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$6,123

Cap Rate

4.08%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$122,460 $122.5K

Cap Rate 7%

$87,471 $87.5K

Cap Rate 9%

$68,033 $68.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,440 SF

Gross rent

$8.5K $5.88/SF

− Vacancy

−$303 −$0.21/SF

EGI

$8.2K $5.67/SF

− OpEx

−$2.0K −$1.42/SF

NOI

$6.1K $4.25/SF

Area

Brown County, OH

Vacancy

3.58%

Lease Rate

$5.88 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$122,460

Cap Rate 7%

$87,471

Cap Rate 9%

$68,033

Alternative Uses

Best Use

Specialty Retail

$87.5K

$76.5K – $102.1K (±1% cap)

NOI $6,123 @ 7.0% cap · market cap 4.08%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$284.7K

$249.1K – $332.2K (±1% cap)

NOI $19,930 @ 7.0% cap · market cap 13.29%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Chelsee’s Tavern Bar & Pub

Suggested Use

Top Pick Bakery Grocery & Convenience Store (Bike/Boat/Book/etc) Store Cafe & Coffee Shop Skin Care Clinic Garden Center

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

Turnkey business

Opportunity

Yes

Liquor license

Location Intelligence

Trade Area within ½ mile

53

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 45168, OH

1,345

Population

611

Households

2.2

Avg Household Size

41

Median Age

13%

College-Educated

84%

High-School Grad

27.6 sq mi

ZIP Area

49

Density / Sq Mi

$71,154

Median Household Income

$32,554

Median Earnings

$1,031

Median Rent

$157,600

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Similar Off Market Nearby

• Chelsee’s Tavern — 12 W Main St, Russellville, OH 45168
• Lisa’s Wayside Inn — 109 N Columbus St, Russellville, OH 45168

Frequently Asked Questions

What type of property is this?

Bar & Pub - Chelsee’s Tavern is offered with five Ohio liquor permits, subject to applicable transfer approvals.

Where is this bar & pub located?

The property is located at 12 W Main Street Russellville, OH.

What is the asking price?

The asking price for this property is $150,000.

What are key features of this property?

This property features: Includes Ohio D1, D2, D3, D3A and D6 liquor permits, subject to transfer approvals; Located at a four‑way intersection, minutes from SR 32