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    Established Bar and Grille For Sale Title is generated by Realmo AI

    206 Elk Run, Punxsutawney, PA 15767

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    Turnkey restaurant with loyal customer base and expansion potential.

    Type:Business for Sale
    Property size:
    1,584 SF
    Price / SF:
    $363/SF
    Added:
    Mar 7, 2024
    Days on Market:
    820
    Last Refresh:
    May 12 at 9:47 pm

    Property Features for 206 Elk Run

    General Information

    Standard status
    Active
    Size
    1,584 SF
    Property subtype
    Business for Sale

    Building Details

    Year Built
    1998

    We can help!

    Listing Contact
    Don Powell

    Listing agent Don Powell License #PA

    Listing office Berkshire Hathaway HomeServices The Preferred Realty - Punxsutawney

    Listing date Mar 7, 2024

    Source Crexi

    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 Berkshire Hathaway HomeServices The Preferred Realty - Punxsutawney

    HighLights

    • Turnkey restaurant operation with all furniture, fixtures, and equipment included
    • Established business (since 1998) with a loyal customer base
    • Valuable liquor license included in the sale
    • High traffic location with excellent visibility and two dedicated parking lots
    • Seating for thirty‑four patrons with expansion potential
    • Fully equipped bar with a long tap system and a functional kitchen with essential equipment

    Overview

    This well-maintained bar and grille, established in 1998, presents an opportunity to acquire a successful business with a loyal customer base and ample space for future growth. The property benefits from high traffic, excellent visibility, and easy access, complemented by two dedicated parking lots. The sale includes all furniture, fixtures, and equipment, providing a turnkey operation, along with a valuable liquor license. The interior features timber frame accents, creating a rustic ambiance suitable for a relaxed dining experience. The layout comfortably accommodates thirty-four patrons with room to add more tables and chairs. An expansive bar area is complemented by a long tap system, ice machine, and ample storage for beverages. The functional kitchen features freezers, coolers, workstations, a display for baked goods, and a fire suppression system. A dedicated laundry room with a washer and dryer ensures fresh linens, while a safe provides secure storage. Additional amenities include a leased commercial dishwasher and Pepsi beverage dispenser. The property includes dual restrooms for guests. A long black porch with a separate kitchen entrance facilitates deliveries. The property size is 1584 square feet.
    Location Intelligence

    Current Use by Public Records

    Neko's Restaurant & Lounge Restaurant

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • The Burrow — 108 N Findley St, Punxsutawney, PA 15767

    Location Insight

    • Map
    • Local Demand
    City
    Punxsutawney
    County
    Jefferson
    State
    Pennsylvania
    Longitude
    -78.964991
    Latitude
    40.952487

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    FAQs

    What type of property is this?
    Bar & Pub - Turnkey restaurant with loyal customer base and expansion potential.
    Where is this bar & pub located?
    The property is located at 206 Elk Run Punxsutawney, PA.
    What is the asking price?
    The asking price for this property is $575,000.
    What are key features of this property?
    This property features: Turnkey restaurant operation with all furniture, fixtures, and equipment included; Established business (since 1998) with a loyal customer base; Valuable liquor license included in the sale
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Don Powell
    Real Estate License ID: PA
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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