Building Details

Building Size 5,248 SF

Year Built 1917

Listing Agency: Miller Diversified Brokerage

Listed By: Chris Murphy · License #SAL.2022006382 Show Phone

Source: Millerdiversified

Added: Aug 28 Changed: Oct 7 Last Checked: Oct 14 at 8:20PM

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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 Miller Diversified Brokerage

Investment Insights

Based on property information with market context.

Located at 122 W Morenci St in Lyons, Ohio, this wedding venue occupies a commercial property built in 1917. The interior offers a flexible arrangement for gatherings ranging from intimate occasions to larger events, with room for dining and entertainment.

A commercial kitchen supports full-service catering operations, while the event area can be configured for different functions. The property’s existing hospitality-oriented layout may continue as an event and catering venue or be adapted for another supported use.

Key Highlights

• Commercial kitchen designed to support full‑service catering operations
• Flexible event area for intimate gatherings and larger events
• Interior layout includes space for dining and entertaining

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$31,836

Cap Rate

9.10%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$636,720 $636.7K

Cap Rate 7%

$454,800 $454.8K

Cap Rate 9%

$353,733 $353.7K

Market Conditions

NOI Build-Up for 5,248 SF

Gross rent

$47.2K $9.00/SF

− Vacancy

−$1.8K −$0.33/SF

EGI

$45.5K $8.67/SF

− OpEx

−$13.6K −$2.60/SF

NOI

$31.8K $6.07/SF

Area

Fulton County, OH

Vacancy

3.71%

Lease Rate

$9.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$636,720

Cap Rate 7%

$454,800

Cap Rate 9%

$353,733

Alternative Uses

Best Use

Specialty Retail

$570.8K

$499.5K – $666.0K (±1% cap)

NOI $39,958 @ 7.0% cap · market cap 11.42%

Second Best

Industrial

$454.8K

$398.0K – $530.6K (±1% cap)

NOI $31,836 @ 7.0% cap · market cap 9.10%

Theoretical Best

Office A

$873.4K

$764.2K – $1.02M (±1% cap)

NOI $61,137 @ 7.0% cap · market cap 17.47%

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

Property Analytics

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Current Use

Mi Casa Mexican ... Hardware & Home Improvement Wolf It Down ... Restaurant

Suggested Use

Top Pick Electrical Service Furniture & Home Goods Grocery & Convenience Store Auto Repair Shop Hair Salon Nail Salon

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

Location Intelligence

Trade Area within ½ mile

47

Businesses Nearby

Explore this area Business Placement

Demographics for 43533, OH

1,509

Population

675

Households

2.2

Avg Household Size

42

Median Age

13%

College-Educated

98%

High-School Grad

23.3 sq mi

ZIP Area

65

Density / Sq Mi

$63,333

Median Household Income

$41,602

Median Earnings

$900

Median Rent

$169,800

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

Questions? Ask Rey

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What type of property is this? Where is this wedding venues located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Wedding venue - Flexible event space accommodates dining, entertaining, and catered functions.

Where is this wedding venue located?

The property is located at 122 W Morenci St Lyons, OH.

What is the asking price?

The asking price for this property is $350,000.

What are key features of this property?

This property features: Commercial kitchen designed to support full‑service catering operations; Flexible event area for intimate gatherings and larger events; Interior layout includes space for dining and entertaining