Turnkey Restaurant and Bar
23 Monument Square Urbana, OH 43078
For Sale
$399,900
Three floors plus full basement with an operational Latin American restaurant and bar, including commercial kitchen and liquor licenses.
Property Size4,769 SF
Price / SF$83.85
Days on Market79
Property Features for 23 Monument Square
General Information
- Standard status
- Active
- Size
- 4,769 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1900
Listing Agency:
REMAX Alliance Realty
(937) 652-1100
Listed By:
V. Patrick Hamilton · License #2004002933
(937) 652-1100
Source:
Xome
Added: May 6
Changed: Jul 23
Last Checked: Jul 23 at 5:19AM
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 REMAX Alliance Realty
Investment Insights
Based on property information with market context.
This for-sale downtown Urbana building includes a turnkey Latin American restaurant and bar, Abuela’s Kitchen, with a fully equipped commercial kitchen and prep areas. The sale is also described as including dining furnishings, décor, equipment, inventory, and the operational essentials needed to continue service. The property comprises three floors plus a full basement, with space that can support restaurant operations and additional uses.
The second floor is currently leased at $700 per month, and it is noted as convertible to an owner-occupied apartment or additional rental space. The third floor is presented as a blank canvas suited for expansion, private events, office space, or other use by the next owner. Additional income opportunities are identified through the established carryout and catering operations.
D5L and D6 liquor licenses are included with the sale, supporting continued bar service and entertainment potential.
The second floor is currently leased at $700 per month, and it is noted as convertible to an owner-occupied apartment or additional rental space. The third floor is presented as a blank canvas suited for expansion, private events, office space, or other use by the next owner. Additional income opportunities are identified through the established carryout and catering operations.
D5L and D6 liquor licenses are included with the sale, supporting continued bar service and entertainment potential.
Key Highlights
- Downtown Urbana building with nearly 4,800 SF across three floors plus a full basement
- Second floor is currently leased for $700/month, offering potential for continued rental income
- Operational Latin American restaurant and bar included with sale, with commercial kitchen, dining furnishings, décor, and equipment
Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $30.6k | $6.41 |
| − Vacancy | −$2.6k | −$0.54 |
| EGI | $28.0k | $5.87 |
| − OpEx | −$8.4k | −$1.76 |
| NOI | $19.6k | $4.11 |
4,769 SF · lease $6.41/SF/yr · vacancy 8.42% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$1.33M
$1.16M – $1.55M
NOI $93,115 @ 7.0% cap · market cap 23.28%
Second Best
Industrial
$280.0K
$245.0K – $326.6K
NOI $19,597 @ 7.0% cap · market cap 4.90%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Abuela's Kitchen
Restaurant
Andrew Grimm Photography
Photography Service
FAQs
What type of property is this?
Conventional restaurant - Three floors plus full basement with an operational Latin American restaurant and bar, including commercial kitchen and liquor licenses.
Where is this conventional restaurant located?
The property is located at 23 Monument Square Urbana, OH.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Downtown Urbana building with nearly 4,800 SF across three floors plus a full basement; Second floor is currently leased for $700/month, offering potential for continued rental income; Operational Latin American restaurant and bar included with sale, with commercial kitchen, dining furnishings, décor, and equipment
