Restaurant Building with Full
1609 E Main Street, Kent, OH 44240
For Sale
$899,900
Pending
The offering includes restaurant equipment and a liquor permit alongside the commercial-zoned property.
Property Size4,430 SF
Days on Market759
Property Features for 1609 E Main Street
General Information
Standard status
Size
Property subtype
Zoning
Restaurant
Equipment Included
Liquor License
Additional Details
Furnished
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
eAgent Real Estate Corp.
Listed By:
Thomas A Weigel Jr. · License OH #2002006847
(440) 391-2340
Source:
Kimberlysrealtycorp
Added: Oct 16, 2024
Changed: Nov 12
Last Checked: Nov 13 at 9:47AM
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 eAgent Real Estate Corp.
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.
The closed restaurant property includes a 4,430-square-foot building, FF&E, and a liquor permit. A full bar was part of the former restaurant operation. The business dates to 1956, while the building was constructed in 1966.
Located at 1609 E Main Street in Kent, Ohio, the property is zoned Commercial.
Located at 1609 E Main Street in Kent, Ohio, the property is zoned Commercial.
Key Highlights
- 4,430‑square‑foot restaurant building
- FF&E and liquor permit included
- Commercial zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,831
Cap Rate
6.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,156,620
$1.2M
Cap Rate 7%
$826,157
$826.2K
Cap Rate 9%
$642,567
$642.6K
Market Conditions
NOI Build-Up for 4,430 SF
Gross rent
$79.7K $18.00/SF
− Vacancy
−$2.6K −$0.59/SF
EGI
$77.1K $17.41/SF
− OpEx
−$19.3K −$4.35/SF
NOI
$57.8K $13.05/SF
Area
Portage County, OH
Vacancy
3.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,156,620
Cap Rate 7%
$826,157
Cap Rate 9%
$642,567
Alternative Uses
Best Use
Specialty Retail
$826.2K
$722.9K – $963.9K
NOI $57,831 @ 7.0% cap · market cap 6.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.09M
$951.3K – $1.27M
NOI $76,101 @ 7.0% cap · market cap 8.46%
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
Lease Details
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
486
Businesses Nearby
147k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 42%
Dining 38%
Groceries 20%
Raising Cane's Chicken Fingers
Dining
33,892 visits/mo
0.3 miles
Acme Fresh Market
Groceries
29,801 visits/mo
0.3 miles
Gabe's
Shops & Services
25,996 visits/mo
0.3 miles
BP
Shops & Services
14,921 visits/mo
0.1 miles
Huntington Bank
Shops & Services
8,003 visits/mo
0.2 miles
Demographics for 44240, OH
38,354
Population
20,228
Households
1.9
Avg Household Size
32
Median Age
44%
College-Educated
96%
High-School Grad
39.7 sq mi
ZIP Area
966
Density / Sq Mi
$57,415
Median Household Income
$31,613
Median Earnings
$989
Median Rent
$216,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Barn — 1002 Lake St, Kent, OH 44240
Frequently Asked Questions
What type of property is this?
Conventional restaurant - The offering includes restaurant equipment and a liquor permit alongside the commercial-zoned property.
Where is this conventional restaurant located?
The property is located at 1609 E Main Street Kent, OH.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: 4,430‑square‑foot restaurant building; FF&E and liquor permit included; Commercial zoning
