Bar and Entertainment
24825 Armstrong Hill Road, Lower Salem, OH 45745
For Sale
Contact for pricing
Bar and restaurant operation with lake recreation, event amenities, camper pads, and transferable liquor license.
Property Size8,640 SF
Days on Market114
Property Features for 24825 Armstrong Hill Road
General Information
Standard status
Size
Property subtype
Restaurant
Equipment Included
Liquor License
Additional Details
Business Included
Taxes and HOA fees
Annual Taxes
Amenities
private lake
beach area
outside bar
volleyball court
waterslide
outdoor entertainment venues
arcade room
game room
gas fired pizza oven and kitchen
retail store
baseball field
printing shop
9 camper pads
Building Details
Building Size
Listing Agency:
Leonard and Newland RealEstate
Listed By:
Jeffery A Leonard
(740) 260-3937
Source:
Camtaylor
Added: Jul 20
Changed: Nov 9
Last Checked: Nov 8 at 4:32PM
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 Leonard and Newland RealEstate
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Investment Insights
Based on property information with market context.
This bar and restaurant property combines indoor operations with a broad mix of recreational and entertainment improvements. The offering includes a kitchen, gas-fired pizza oven, retail store, arcade room, game room, outdoor bar, volleyball court, waterslide, baseball field, and printing shop. Coolers, equipment, and inventory are included, and the liquor license is transferable to the new owner. Games and billiards are owned by an entertainment company under a 50/50 profit split.
Outdoor amenities include a private lake with a beach area, multiple entertainment venues, and 9 camper pads. The property is being offered in two parcels: 1.5 acres with the business and 10.5 acres containing the beach area, with an opportunity to consider the parcels together. Located at 24825 Armstrong Hill Rd in Lower Salem, Ohio, the property supports event, wedding, live-music, camping, and ATV-tourism uses identified in the offering.
Outdoor amenities include a private lake with a beach area, multiple entertainment venues, and 9 camper pads. The property is being offered in two parcels: 1.5 acres with the business and 10.5 acres containing the beach area, with an opportunity to consider the parcels together. Located at 24825 Armstrong Hill Rd in Lower Salem, Ohio, the property supports event, wedding, live-music, camping, and ATV-tourism uses identified in the offering.
Key Highlights
- Bar and restaurant with kitchen, gas‑fired pizza oven, retail store, and transferable liquor license
- Private lake with beach area, outdoor bar, volleyball court, and waterslide
- Arcade room, game room, baseball field, printing shop, and outdoor entertainment venues
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$64,185
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,283,700
$1.3M
Cap Rate 7%
$916,929
$916.9K
Cap Rate 9%
$713,167
$713.2K
Market Conditions
NOI Build-Up for 8,640 SF
Gross rent
$95.4K $11.04/SF
− Vacancy
−$9.8K −$1.13/SF
EGI
$85.6K $9.91/SF
− OpEx
−$21.4K −$2.48/SF
NOI
$64.2K $7.43/SF
Area
Washington County, OH
Vacancy
10.28%
Lease Rate
$11.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,283,700
Cap Rate 7%
$916,929
Cap Rate 9%
$713,167
Alternative Uses
Best Use
Specialty Retail
$916.9K
$802.3K – $1.07M
NOI $64,185 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Mixed Use
$2.01M
$1.76M – $2.34M
NOI $140,580 @ 7.0% cap
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
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 45745, OH
1,104
Population
607
Households
1.8
Avg Household Size
45
Median Age
17%
College-Educated
89%
High-School Grad
72.6 sq mi
ZIP Area
15
Density / Sq Mi
$47,808
Median Household Income
$24,848
Median Earnings
$1,135
Median Rent
$100,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Bar & Pub - Bar and restaurant operation with lake recreation, event amenities, camper pads, and transferable liquor license.
Where is this bar & pub located?
The property is located at 24825 Armstrong Hill Road Lower Salem, OH.
What are key features of this property?
This property features: Bar and restaurant with kitchen, gas‑fired pizza oven, retail store, and transferable liquor license; Private lake with beach area, outdoor bar, volleyball court, and waterslide; Arcade room, game room, baseball field, printing shop, and outdoor entertainment venues
