Pizza Restaurant with Liquor
For Sale
$649,900
424 E Main St, Russells Point, OH
Turnkey pizza restaurant property with 64 seats, ADA-compliant layout, and a D-1 liquor license included in sale.
Property Size1,891 SF
Lot Size0.27 Acres
Price / SF$343.68
Days on Market179
Property Features for 424 E Main St
General Information
Standard status
Active
Size
1,891 SF
Total Parking Spaces
17
Lot size
0.27 Acres
Additional Details
Business Included
Yes
Highway Access
Yes
Liquor License
Yes
Building Details
Year Built
1975
Year Renovated
1999
Listing Agency:
Zimmerman Realty Ltd.
(937) 592-4896
Listed By:
Doug Zimmerman
(937) 592-4896
Source:
Exprealty
Added: Feb 27
Changed: Aug 25
Last Checked: Aug 25 at 9:42AM
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 Zimmerman Realty Ltd.
Investment Insights
Based on property information with market context.
This sale includes a remodeled pizza restaurant building and the operating business, along with all current equipment and inventory. The property is a 1-building site with a total size of 1,891 square feet on a 0.27-acre lot, built in 1975 and remodeled in 1999, with numerous updates reported and ongoing meticulous maintenance. Seating capacity is 64 and the facility is ADA compliant, with separate staff and guest bathrooms. Parking capacity is listed at 17 spaces.
The property is located in Russells Point at Indian Lake, positioned between US 33 and OH-708 (Main Street). The sale would also include a D-1 liquor license, with the exception of one Indian Lake sign on the west dining room wall. The Cassano’s franchise is optional.
Proof of funds or a letter of financial approval is required to review the financials.
The property is located in Russells Point at Indian Lake, positioned between US 33 and OH-708 (Main Street). The sale would also include a D-1 liquor license, with the exception of one Indian Lake sign on the west dining room wall. The Cassano’s franchise is optional.
Proof of funds or a letter of financial approval is required to review the financials.
Key Highlights
- 1891 SF pizza restaurant on a 0.27‑acre lot in Russells Point at Indian Lake
- Built in 1975 and remodeled in 1999, with numerous updates and meticulous maintenance
- Sale includes the business, all current equipment and inventory, and a D‑1 liquor license
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
$23,563
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
3.63%
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%
$471,260
$471.3K
Cap Rate 7%
$336,614
$336.6K
Cap Rate 9%
$261,811
$261.8K
Market Conditions
NOI Build-Up for 1,891 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
$34.0K $18.00/SF
− Vacancy
−$2.6K −$1.39/SF
EGI
$31.4K $16.61/SF
− OpEx
−$7.9K −$4.15/SF
NOI
$23.6K $12.46/SF
Area
Montgomery County, OH
Vacancy
7.70%
Lease Rate
$18.00 /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%
$471,260
Cap Rate 7%
$336,614
Cap Rate 9%
$261,811
Alternative Uses
Best Use
Specialty Retail
$336.6K
$294.5K – $392.7K
NOI $23,563 @ 7.0% cap · market cap 3.63%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$17.89M
$15.65M – $20.87M
NOI $1,251,969 @ 7.0% cap · market cap 192.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
314
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Retail 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?
Conventional restaurant - Turnkey pizza restaurant property with 64 seats, ADA-compliant layout, and a D-1 liquor license included in sale.
Where is this conventional restaurant located?
The property is located at 424 E Main St Russells Point, OH.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: 1891 SF pizza restaurant on a 0.27‑acre lot in Russells Point at Indian Lake; Built in 1975 and remodeled in 1999, with numerous updates and meticulous maintenance; Sale includes the business, all current equipment and inventory, and a D‑1 liquor license
