Multi-Level Bar and
244 N Water St Kent, OH 44240
244 N Water St, Kent, OH, 44240
$1,200,000
For Sale
$1,200,000
Multi-level bar with two separate bars, a non-operating kitchen, and a liquor license included with the sale.
Property Size7,840 SF
Price / SF$153.06
Days on Market63
Property Features for 244 N Water St
General Information
- Standard status
- Active
- Size
- 7,840 SF
Listing agency
The Agency Cleveland Northcoast
(330) 618-2118
Listed by
Mary A Markulis · License #2003017990
(330) 618-2118
Source
Exprealty
Added: May 20 Updated: Jul 21 at 10:51AM Checked: Jul 21 at 10:51AM
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 The Agency Cleveland Northcoast
Investment Insights
Based on property information with market context.
This multi-level bar and restaurant property is currently known as Brewhouse and Brew down. The main bar operates on the main level, while a totally separate bar operates on the lower level under the BrewDown name. The interior is being sold with liquor license and all interior contents, with a few memorabilia items potentially held back by the owner. The space currently does not operate with a kitchen, though there is room in the building for a new owner’s layout and concept changes.
The property includes an upstairs area with its own entrance, and the third level was previously semi-finished. Current operating space is approximately 7,840 square feet, with additional third-level space of approximately 3,000+ square feet that may provide roughly 11,000 square feet of entertainment space in total. The business has historically included a Paninis restaurant, and the operator is transitioning after decades of ownership.
The building is described as very large, with opportunities for event rentals or office use depending on the next tenant or owner’s plan.
The property includes an upstairs area with its own entrance, and the third level was previously semi-finished. Current operating space is approximately 7,840 square feet, with additional third-level space of approximately 3,000+ square feet that may provide roughly 11,000 square feet of entertainment space in total. The business has historically included a Paninis restaurant, and the operator is transitioning after decades of ownership.
The building is described as very large, with opportunities for event rentals or office use depending on the next tenant or owner’s plan.
Key Highlights
- Multi‑level bar space in downtown Kent University college town with two separate bars: Brewhouse (main level) and BrewDown (lower level)
- Liquor license included with the sale, plus all interior contents (excluding a few memorabilia items that may be held back)
- Current operating area is approx. 7,840 SF, with an additional third level that was semi‑finished (approx. 3,000+ SF)
Local Financial Insights For Specialty Retail
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 | $141.1k | $18.00 |
| − Vacancy | −$4.7k | −$0.59 |
| EGI | $136.5k | $17.41 |
| − OpEx | −$34.1k | −$4.35 |
| NOI | $102.3k | $13.05 |
7,840 SF · lease $18.00/SF/yr · vacancy 3.30% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.46M
$1.28M – $1.71M
NOI $102,347 @ 7.0% cap · market cap 8.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.58M
$1.38M – $1.84M
NOI $110,542 @ 7.0% cap · market cap 9.21%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Brewhouse Pub
Bar & Pub
Similar For Sale Nearby
Similar Off Market Nearby
- The Kent Stage — 175 E Main St, Kent, OH 44240
- Starbucks — 475 Terrace Dr, Kent, OH 44240
- The Pub in Kent — 401 Franklin Ave, Kent, OH 44240
- Kent Paninis — 295 S Water St, Kent, OH 44240
- Kent Canadian Club — 112 W College Ave, Kent, OH 44240
FAQs
What type of property is this?
Bar & Pub - Multi-level bar with two separate bars, a non-operating kitchen, and a liquor license included with the sale.
Where is this bar & pub located?
The property is located at 244 N Water St Kent, OH.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Multi‑level bar space in downtown Kent University college town with two separate bars: Brewhouse (main level) and BrewDown (lower level); Liquor license included with the sale, plus all interior contents (excluding a few memorabilia items that may be held back); Current operating area is approx. 7,840 SF, with an additional third level that was semi‑finished (approx. 3,000+ SF)
