Fully Renovated Restaurant
For Sale
$700,000
28926 Euclid Ave, Wickliffe, OH 44092
Fully renovated restaurant property with commercial kitchen, banquet space, and a covered outdoor patio with full bar.
Property Size7,032 SF
Price / SF$100
Days on Market77
Property Features for 28926 Euclid Ave
General Information
Standard status
Active
Size
7,032 SF
Total Parking Spaces
30
Property subtype
Restaurant
Additional Details
Business Included
Yes
Liquor License
Yes
Building Details
Building Size
7,032 SF
Year Built
1966
Listing Agency:
RIOsource Group
(937) 206-1925
Listed By:
Douglas Klang · License #2013000048
(937) 206-1925
Source:
Thebrokerlist
Added: Jun 16
Changed: Aug 24
Last Checked: Aug 30 at 12:59PM
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 RIOsource Group
Investment Insights
Based on property information with market context.
A fully renovated restaurant building currently operating as Casa Di Vino Italian Restaurant. The property includes a commercial kitchen with a full appliance package and two expansive walk-in coolers, plus banquet hall space and an outdoor covered patio with a full bar. Additional improvements include six remodeled bathrooms, supporting a turnkey food-and-beverage operation.
The property is located on Euclid Avenue in Wickliffe, OH, and offers over 30 parking spaces for guests and staff.
Also included is a D-5L liquor license, which aligns with the on-site full bar and beverage service operations.
The property is located on Euclid Avenue in Wickliffe, OH, and offers over 30 parking spaces for guests and staff.
Also included is a D-5L liquor license, which aligns with the on-site full bar and beverage service operations.
Key Highlights
- Fully renovated 7,000+ SF commercial building built in 1966
- Restaurant setup includes a commercial kitchen with full appliance package and 2 expansive walk‑in coolers
- Banquet hall and outdoor covered patio space with a full 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
$26,944
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
3.85%
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%
$538,880
$538.9K
Cap Rate 7%
$384,914
$384.9K
Cap Rate 9%
$299,378
$299.4K
Market Conditions
NOI Build-Up for 7,000 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
$40.0K $5.71/SF
− Vacancy
−$1.5K −$0.21/SF
EGI
$38.5K $5.50/SF
− OpEx
−$11.5K −$1.65/SF
NOI
$26.9K $3.85/SF
Area
Lake County, OH
Vacancy
3.70%
Lease Rate
$5.71 /SF/Yr
Expense Ratio
30.00%
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%
$538,880
Cap Rate 7%
$384,914
Cap Rate 9%
$299,378
Alternative Uses
Best Use
Specialty Retail
$1.07M
$939.1K – $1.25M
NOI $75,128 @ 7.0% cap · market cap 10.73%
Second Best
Industrial
$384.9K
$336.8K – $449.1K
NOI $26,944 @ 7.0% cap · market cap 3.85%
Theoretical Best
Office A
$1.62M
$1.41M – $1.89M
NOI $113,172 @ 7.0% cap · market cap 16.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
608
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44092, OH
16,786
Population
8,258
Households
2
Avg Household Size
43
Median Age
28%
College-Educated
95%
High-School Grad
7.4 sq mi
ZIP Area
2,268
Density / Sq Mi
$67,907
Median Household Income
$41,236
Median Earnings
$1,059
Median Rent
$167,100
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.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Fully renovated restaurant property with commercial kitchen, banquet space, and a covered outdoor patio with full bar.
Where is this conventional restaurant located?
The property is located at 28926 Euclid Ave Wickliffe, OH.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Fully renovated 7,000+ SF commercial building built in 1966; Restaurant setup includes a commercial kitchen with full appliance package and 2 expansive walk‑in coolers; Banquet hall and outdoor covered patio space with a full bar
