Restaurant and Brewing
For Sale
Contact for pricing
214 W Main St, Troy, OH 45373
Downtown DORA property with a commercial kitchen, outdoor seating/bar area, and an installed brewing facility.
Property Size8,232 SF
Price / SF$157.92
Days on Market389
Property Features for 214 W Main St
General Information
Standard status
Active
Size
8,232 SF
Property subtype
RETAIL
Amenities
Commercial kitchen
Full brewing facility still installed
Outdoor seating and bar area
Listing Agency:
NAI Bergman
(937) 673-4366
Listed By:
Scott Kaster · License #SAL.2009000788
(937) 673-4366
Source:
Moodyscre
Added: Jul 21, 2025
Changed: Aug 12
Last Checked: Aug 12 at 10:30AM
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 NAI Bergman
Investment Insights
Based on property information with market context.
This property is well-suited for food and beverage use, featuring a commercial kitchen and a full brewing facility still installed. An outdoor seating and bar area is included, supporting operations that extend beyond the interior space.
Located in a downtown DORA area in Troy, Ohio, the building is positioned for a high-visibility presence in a busy commercial setting.
Please note that the brewing equipment is not included in the sale; call for details regarding what remains on site.
Located in a downtown DORA area in Troy, Ohio, the building is positioned for a high-visibility presence in a busy commercial setting.
Please note that the brewing equipment is not included in the sale; call for details regarding what remains on site.
Key Highlights
- Price reduced to $1,300,000
- Ideal for a restaurant, bar, or brewery use
- Commercial kitchen included
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
$92,173
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
7.09%
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%
$1,843,460
$1.8M
Cap Rate 7%
$1,316,757
$1.3M
Cap Rate 9%
$1,024,144
$1.0M
Market Conditions
NOI Build-Up for 8,232 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
$128.4K $15.60/SF
− Vacancy
−$5.5K −$0.67/SF
EGI
$122.9K $14.93/SF
− OpEx
−$30.7K −$3.73/SF
NOI
$92.2K $11.20/SF
Area
Miami County, OH
Vacancy
4.30%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
25.00%
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%
$1,843,460
Cap Rate 7%
$1,316,757
Cap Rate 9%
$1,024,144
Alternative Uses
Best Use
Specialty Retail
$1.32M
$1.15M – $1.54M
NOI $92,173 @ 7.0% cap · market cap 7.09%
Second Best
Industrial
$1.30M
$1.13M – $1.51M
NOI $90,709 @ 7.0% cap · market cap 6.98%
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,442 @ 7.0% cap · market cap 9.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
586
Businesses Nearby
Explore this area
Business Placement
Demographics for 45373, OH
36,863
Population
15,691
Households
2.3
Avg Household Size
41
Median Age
33%
College-Educated
93%
High-School Grad
87.7 sq mi
ZIP Area
420
Density / Sq Mi
$78,278
Median Household Income
$47,859
Median Earnings
$933
Median Rent
$234,400
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Brewery - Downtown DORA property with a commercial kitchen, outdoor seating/bar area, and an installed brewing facility.
Where is this brewery located?
The property is located at 214 W Main St Troy, OH.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Price reduced to $1,300,000; Ideal for a restaurant, bar, or brewery use; Commercial kitchen included
