Standalone Neighborhood
For Sale
$435,000
8741 W Ridge, Elyria, OH 44035
Kitchen equipment, accessible entrances and a finished basement accommodate food service and private gatherings.
Property Size2,652 SF
Price / SF$164.03
Days on Market999
Property Features for 8741 W Ridge
General Information
Standard status
Active
Size
2,652 SF
Total Parking Spaces
80
Property subtype
Mixed Use
Additional Details
Business Included
Yes
Equipment Included
Yes
Taxes and HOA fees
Annual Taxes
$5,741
Amenities
handicap accessible ramps
updated bathrooms
finished basement with outside access for private parties
new landscaping
Building Details
Building Size
2,652 SF
Year Built
1964
Buildings
1
Listing Agency:
Life Stages Realty LLC
Listed By:
Nicolette Kuebeler · License #2022002552
(330) 322-3637
Source:
Lifestagesrealty
Added: Feb 1, 2024
Changed: Oct 27
Last Checked: Oct 27 at 4:10AM
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 Life Stages Realty LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This freestanding bar and restaurant includes a kitchen with updated freezers, a flat top, broiler and grill. The building also has two handicap-accessible ramps, updated bathrooms and a finished basement with its own exterior access for private events. The roof was recently replaced, and the parking area was redone alongside new landscaping.
The property sits in a neighborhood with two newer developments, multiple condominium properties and hundreds of apartments. Built in 1964, the building is configured for bar, lounge or restaurant operations.
The property sits in a neighborhood with two newer developments, multiple condominium properties and hundreds of apartments. Built in 1964, the building is configured for bar, lounge or restaurant operations.
Key Highlights
- 80‑space parking lot was redone, with new landscaping
- Kitchen includes updated freezers, a flat top, broiler and grill
- Finished basement has outside access for private parties
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,582
Cap Rate
6.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$571,640
$571.6K
Cap Rate 7%
$408,314
$408.3K
Cap Rate 9%
$317,578
$317.6K
Market Conditions
NOI Build-Up for 2,652 SF
Gross rent
$39.8K $15.00/SF
− Vacancy
−$1.7K −$0.63/SF
EGI
$38.1K $14.37/SF
− OpEx
−$9.5K −$3.59/SF
NOI
$28.6K $10.78/SF
Area
Lorain County, OH
Vacancy
4.20%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$571,640
Cap Rate 7%
$408,314
Cap Rate 9%
$317,578
Alternative Uses
Best Use
Specialty Retail
$408.3K
$357.3K – $476.4K
NOI $28,582 @ 7.0% cap · market cap 6.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$668.3K
$584.8K – $779.7K
NOI $46,781 @ 7.0% cap · market cap 10.75%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
884
Businesses Nearby
40k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 72%
Dining 17%
Groceries 11%
Dollar General
Shops & Services
8,112 visits/mo
0.4 miles
Dollar General
Shops & Services
6,368 visits/mo
0.3 miles
GetGo Gas Station
Shops & Services
5,779 visits/mo
0.2 miles
Little Caesars Pizza
Dining
4,866 visits/mo
0.4 miles
Circle K
Shops & Services
4,759 visits/mo
0.4 miles
Demographics for 44035, OH
61,921
Population
29,637
Households
2.1
Avg Household Size
42
Median Age
17%
College-Educated
88%
High-School Grad
47.6 sq mi
ZIP Area
1,301
Density / Sq Mi
$54,362
Median Household Income
$38,493
Median Earnings
$871
Median Rent
$147,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Celebrations Disc Jockey — 394 Broad St, Elyria, OH 44035, United States
- Just One More — Elyria, OH 44035
- Boomers — 305 Broad St, Elyria, OH 44035
- Bugsy's Speakeasy — 348 Broad St, Elyria, OH 44035
- Chris's Place — 515 Clark St, Elyria, OH 44035
Frequently Asked Questions
What type of property is this?
Bar & Pub - Kitchen equipment, accessible entrances and a finished basement accommodate food service and private gatherings.
Where is this bar & pub located?
The property is located at 8741 W Ridge Elyria, OH.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: 80‑space parking lot was redone, with new landscaping; Kitchen includes updated freezers, a flat top, broiler and grill; Finished basement has outside access for private parties
