Bar and Restaurant with
For Sale
$849,000
18966 State Route 347 Broadway, Broadway, OH 43007
For sale bar and restaurant with a commercial kitchen, outdoor patio, and two upper-level apartments.
Property Size2,240 SF
Lot Size0.25 Acres
Price / SF$379.02
Days on Market46
Property Features for 18966 State Route 347 Broadway
General Information
Standard status
Active
Size
2,240 SF
Total Parking Spaces
70
Lot size
0.25 Acres
Restaurant
Commercial Hood
Yes
Liquor License
Yes
Additional Details
Business Included
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,555
Amenities
No
Well
0.5
70.0
2240.0
Building Details
Building Size
2,240 SF
Year Built
1900
Stories
2
Listing Agency:
(614) 660-5959
Listed By:
Bernice Banquaio
(614) 660-5959
Source:
Movenowohio
Added: Jul 7
Changed: Aug 14
Last Checked: Aug 21 at 4:00AM
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 Bernice Banquaio
Investment Insights
Based on property information with market context.
This property offers a fully equipped bar and restaurant concept with an efficient operating layout and a commercial kitchen featuring updated equipment. The building includes outdoor space with an added patio area and a seasonal bar setup, supporting on-site dining and beverage service. Two upper-level apartments provide additional income opportunity or owner-occupant flexibility. Recent mechanical and exterior improvements are noted as helping reduce near-term maintenance needs.
The business has been operating as a tavern since 1972 and is described as high-visibility near major manufacturing and supplier employers, supporting steady day-to-day activity. A fully equipped operation is in place, which can be important to tenants and buyers looking to continue restaurant and bar service without starting from scratch.
For buyers, this format can appeal to operators who want a turn-key hospitality use combined with residential units in the same asset. For tenants, it presents a practical existing bar/restaurant buildout with a commercial kitchen, outdoor patio area, and additional apartment space for diversification within one property. An additional approximately 0.25-acre parcel is included, with an existing well and septic described for potential future expansion.
The business has been operating as a tavern since 1972 and is described as high-visibility near major manufacturing and supplier employers, supporting steady day-to-day activity. A fully equipped operation is in place, which can be important to tenants and buyers looking to continue restaurant and bar service without starting from scratch.
For buyers, this format can appeal to operators who want a turn-key hospitality use combined with residential units in the same asset. For tenants, it presents a practical existing bar/restaurant buildout with a commercial kitchen, outdoor patio area, and additional apartment space for diversification within one property. An additional approximately 0.25-acre parcel is included, with an existing well and septic described for potential future expansion.
Key Highlights
- Established tavern/bar and restaurant operating since 1972 with an existing commercial kitchen and bar/restaurant layout
- Includes two upper‑level apartments for added rental income or owner‑occupant flexibility
- Commercial kitchen with updated equipment plus an outdoor patio and seasonal bar
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
$27,885
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
3.28%
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%
$557,700
$557.7K
Cap Rate 7%
$398,357
$398.4K
Cap Rate 9%
$309,833
$309.8K
Market Conditions
NOI Build-Up for 2,240 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
$48.9K $21.84/SF
− Vacancy
−$11.7K −$5.24/SF
EGI
$37.2K $16.60/SF
− OpEx
−$9.3K −$4.15/SF
NOI
$27.9K $12.45/SF
Area
Union County, OH
Vacancy
24.00%
Lease Rate
$21.84 /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%
$557,700
Cap Rate 7%
$398,357
Cap Rate 9%
$309,833
Alternative Uses
Best Use
Specialty Retail
$398.4K
$348.6K – $464.8K
NOI $27,885 @ 7.0% cap · market cap 3.28%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$451.5K
$395.0K – $526.7K
NOI $31,603 @ 7.0% cap · market cap 3.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Yes
Commercial hood
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43007, OH
88
Population
34
Households
2.6
Avg Household Size
53
Median Age
100%
High-School Grad
2.4 sq mi
ZIP Area
37
Density / Sq Mi
$177,900
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Old Stone Haus Tavern — 18966 Main St, Raymond, OH 43067
Frequently Asked Questions
What type of property is this?
Bar & Pub - For sale bar and restaurant with a commercial kitchen, outdoor patio, and two upper-level apartments.
Where is this bar & pub located?
The property is located at 18966 State Route 347 Broadway Broadway, OH.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Established tavern/bar and restaurant operating since 1972 with an existing commercial kitchen and bar/restaurant layout; Includes two upper‑level apartments for added rental income or owner‑occupant flexibility; Commercial kitchen with updated equipment plus an outdoor patio and seasonal bar
