Established Bar with Full
For Sale
$499,900
500 Vienna Ave, Niles, OH 44446
Licensed operation includes equipped food-service space, updated restrooms, private office, storage, and security systems.
Property Size2,505 SF
Price / SF$199.56
Days on Market22
Property Features for 500 Vienna Ave
General Information
Standard status
Active
Size
2,505 SF
Building Details
Year Built
1900
Listing Agency:
Altobelli Real Estate
(330) 720-7282
Listed By:
Laura A Altobelli · License #2007004434
Source:
Theacclaimedrealty
Added: Aug 9
Changed: Aug 29
Last Checked: Aug 25 at 5:36AM
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 Altobelli Real Estate
Investment Insights
Based on property information with market context.
Gasoline Alley is a bar and restaurant property with an operating history spanning more than 36 years. The interior includes booth, table, and bar-stool seating, along with a fully equipped kitchen containing fryers, ovens, microwaves, a cooler, and a freezer. A liquor license with Sunday sales, updated restrooms, a private office, and basement storage are included.
The property sits on three parcels at 500 Vienna Avenue in Niles, Ohio, with parking for 36 vehicles. Building improvements include a newer alarm, camera-based security system, brand-new metal roof, and gutter system. Constructed in 1900, the property offers an established bar and food-service configuration with existing operational components in place.
The property sits on three parcels at 500 Vienna Avenue in Niles, Ohio, with parking for 36 vehicles. Building improvements include a newer alarm, camera-based security system, brand-new metal roof, and gutter system. Constructed in 1900, the property offers an established bar and food-service configuration with existing operational components in place.
Key Highlights
- Liquor license includes Sunday sales
- Fully equipped kitchen with fryers, ovens, microwaves, cooler, and freezer
- Parking for 36 vehicles
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
$26,998
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
5.40%
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%
$539,960
$540.0K
Cap Rate 7%
$385,686
$385.7K
Cap Rate 9%
$299,978
$300.0K
Market Conditions
NOI Build-Up for 2,505 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
$37.6K $15.00/SF
− Vacancy
−$1.6K −$0.63/SF
EGI
$36.0K $14.37/SF
− OpEx
−$9.0K −$3.59/SF
NOI
$27.0K $10.78/SF
Area
Trumbull County, OH
Vacancy
4.20%
Lease Rate
$15.00 /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%
$539,960
Cap Rate 7%
$385,686
Cap Rate 9%
$299,978
Alternative Uses
Best Use
Specialty Retail
$385.7K
$337.5K – $450.0K
NOI $26,998 @ 7.0% cap · market cap 5.40%
Second Best
Industrial
$147.1K
$128.7K – $171.6K
NOI $10,294 @ 7.0% cap · market cap 2.06%
Theoretical Best
Office A
$475.5K
$416.0K – $554.7K
NOI $33,282 @ 7.0% cap · market cap 6.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
439
Businesses Nearby
92k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 37%
Shops & Services 33%
Groceries 30%
Giant Eagle Supermarket
Groceries
27,860 visits/mo
0.2 miles
McDonald's
Dining
16,562 visits/mo
0.5 miles
Speedway
Shops & Services
11,743 visits/mo
0.2 miles
Dollar General
Shops & Services
10,653 visits/mo
0.3 miles
Dunkin' Donuts
Dining
8,439 visits/mo
0.5 miles
Demographics for 44446, OH
20,173
Population
10,476
Households
1.9
Avg Household Size
44
Median Age
21%
College-Educated
92%
High-School Grad
14.0 sq mi
ZIP Area
1,441
Density / Sq Mi
$49,779
Median Household Income
$35,596
Median Earnings
$786
Median Rent
$108,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bar & Pub - Licensed operation includes equipped food-service space, updated restrooms, private office, storage, and security systems.
Where is this bar & pub located?
The property is located at 500 Vienna Ave Niles, OH.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Liquor license includes Sunday sales; Fully equipped kitchen with fryers, ovens, microwaves, cooler, and freezer; Parking for 36 vehicles
