Brewery Bar and Tasting
For Sale
Contact for pricing
3135 Sackett Ave, Cleveland, OH 44109
Former Phunkenship brewery with bar/tasting room build-out, warehouse production space, outdoor patio area, and Opportunity Zone location.
Property Size10,662 SF
Lot Size0.60 Acres
Price / SF$64.25
Days on Market738
Property Features for 3135 Sackett Ave
General Information
Standard status
Active
Size
10,662 SF
Total Parking Spaces
16
Lot size
0.60 Acres
Property subtype
INDUSTRIAL
Financials
Asking Price
$995,000
Opportunity Zone
Yes
Building Details
Building Size
10,662 SF
Listing Agency:
CBRE | Cleveland
(216) 687-1800
Listed By:
Joseph Khouri · License #2008000837
(216) 658-6120
Source:
Moodyscre
Added: Oct 15, 2024
Changed: Oct 7
Last Checked: Oct 20 at 10:50PM
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 CBRE | Cleveland
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Former Phunkenship brewery available for sale, totaling 10,662 SF on a 0.60-acre parcel (269' x 97'). The property is partially built out as a high-end design bar and tasting room, with warehouse/production space and a large outdoor area designed for a patio. An on-site parking lot provides approximately 16 spaces.
The site is located minutes from Ohio City, Tremont, and downtown Cleveland, and within walking distance to the Metro Hospital billion-dollar redevelopment. The property also sits in an Opportunity Zone, supported by a dense surrounding population of 138,044 people within a 3-mile radius.
With the existing brewery, bar, and event-center configuration plus indoor production space and outdoor patio area, the building and site offer multiple paths for adaptive use or redevelopment.
The site is located minutes from Ohio City, Tremont, and downtown Cleveland, and within walking distance to the Metro Hospital billion-dollar redevelopment. The property also sits in an Opportunity Zone, supported by a dense surrounding population of 138,044 people within a 3-mile radius.
With the existing brewery, bar, and event-center configuration plus indoor production space and outdoor patio area, the building and site offer multiple paths for adaptive use or redevelopment.
Key Highlights
- 10,662 SF former Phunkenship brewery with bar and event center
- 0.60‑acre parcel (269' x 97')
- Partially built‑out bar/tasting room plus warehouse/production space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,190
Cap Rate
7.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,063,800
$1.1M
Cap Rate 7%
$759,857
$759.9K
Cap Rate 9%
$591,000
$591.0K
Market Conditions
NOI Build-Up for 10,662 SF
Gross rent
$65.3K $6.12/SF
− Vacancy
−$2.7K −$0.25/SF
EGI
$62.6K $5.87/SF
− OpEx
−$9.4K −$0.88/SF
NOI
$53.2K $4.99/SF
Area
Cleveland, OH
Vacancy
4.10%
Lease Rate
$6.12 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,063,800
Cap Rate 7%
$759,857
Cap Rate 9%
$591,000
Alternative Uses
Best Use
Specialty Retail
$1.91M
$1.67M – $2.23M
NOI $133,861 @ 7.0% cap · market cap 19.54%
Second Best
Warehouse
$759.9K
$664.9K – $886.5K
NOI $53,190 @ 7.0% cap · market cap 7.76%
Theoretical Best
Office A
$2.60M
$2.28M – $3.04M
NOI $182,131 @ 7.0% cap · market cap 26.59%
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
Location Intelligence
Trade Area within ½ mile
2,418
Businesses Nearby
Explore this area
Business Placement
Demographics for 44109, OH
39,121
Population
19,588
Households
2
Avg Household Size
36
Median Age
17%
College-Educated
81%
High-School Grad
7.1 sq mi
ZIP Area
5,510
Density / Sq Mi
$43,130
Median Household Income
$34,050
Median Earnings
$861
Median Rent
$112,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Cleveland, OH
Frequently Asked Questions
What type of property is this?
Brewery - Former Phunkenship brewery with bar/tasting room build-out, warehouse production space, outdoor patio area, and Opportunity Zone location.
Where is this brewery located?
The property is located at 3135 Sackett Ave Cleveland, OH.
What is the asking price?
The asking price for this property is $685,000.
What are key features of this property?
This property features: 10,662 SF former Phunkenship brewery with bar and event center; 0.60‑acre parcel (269' x 97'); Partially built‑out bar/tasting room plus warehouse/production space
