Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    5164 Normandy Park Dr Medina, OH

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    10,000 SF restaurant with banquet space, bar, and patio.

    Type:RETAIL
    Property size:
    10,000 SF
    Lot size:
    1.77 Acres
    Price / SF:
    $69/SF
    Added:
    Dec 4, 2023
    Days on Market:
    877
    Last Refresh:
    Apr 5 at 8:18 pm

    Property Features for 5164 Normandy Park Dr

    General Information

    Standard status
    Active
    Size
    10,000 SF
    Lot size
    1.77 Acres
    Property subtype
    RETAIL

    Properties For Sale

    at 5164 Normandy Park Dr Contact us

    We can help!

    Listing Contact
    Emily Faust
    Emily Faust

    Listing agent Emily Faust License #SAL.2021003573

    Listing office Gerspacher Real Estate Group

    Listing date Dec 4, 2023

    Source Moodyscre

    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 Gerspacher Real Estate Group

    Overview

    Restaurant with Banquet and Bar

    This 10,000 SF property, situated on 1.25 total acres across three parcels, features a fully equipped commercial kitchen with all mechanicals in good working order. The layout includes a lobby, a 45-person bar, a 72-person dining room, and three restrooms, one of which is ADA compliant. A 2,500 SF banquet space accommodates 155 people, complemented by a 2,500 SF basement area. The property also boasts a newly remodeled brick paver patio with a custom water feature and a view of Lake Erie. All furniture, fixtures, and equipment are included in the sale. Parking is available with 82 spaces. The property has a D-5, D-6 liquor license and a current lottery & sports betting license.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Howard Hanna Medina ... Real Estate Agency Cooper, Adel, Vu ... Law Firm Gerspacher Real Estate ... Real Estate Agency The Powers Team | Howard ... Real Estate Agency The Post Newspapers Publishing House

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Medina
    County
    Medina
    State
    Ohio
    Longitude
    -81.8005
    Latitude
    41.1354

    Nearby Similar for Sale

    • $2,000,000

      Medina Office/Warehouse Space Available

      Office and warehouse space for sale or lease in Medina.
      2425 Medina Road, Medina, OH 44256
      View Details
    • Contact for pricing

      Meineke Car Care Center Investment

      NNN leased Meineke Car Care Center in Medina, Ohio.
      4868 Ledgewood Dr, Medina, OH 44256
      View Details
    • $6,750,000
      100,000 SF

      Medina Industrial Property For Sale

      Flexible industrial property in Medina's established industrial corridor.
      775-779 W Smith Rd, Medina, OH
      View Details
    • $1,705,233
      4,495 SF

      Meineke Car Care Investment Opportunity

      NNN leased Meineke Car Care in Medina, OH for sale.
      4868 Ledgewood Dr, Medina, OH 44256
      View Details
    • $445,000
      3,520 SF

      Medina Retail/Office Condominium For Sale

      Retail/office condominium in active corridor, suitable for various uses.
      3575 Medina Rd, Medina, OH
      View Details
    • $6,750,000
      100,000 SF

      Medina Industrial Property For Sale

      Professionally managed industrial property in Medina, Ohio, suitable for investors.
      775 - 779 W Smith Rd, Medina, OH, Medina, OH 44256
      View Details
    • $695,000
      7,200 SF

      High Visibility Corner Commercial Property

      Two buildings on 1.96 acres with multiple access points.
      999 Lafayette Rd, Medina, OH
      View Details
    • $1,300,000
      34,000 SF

      Medina Industrial Property For Sale

      Industrial property with highway access and flexible zoning.
      355 Lake Rd, Medina, OH
      View Details
    • $365,000

      Medina Square Health and Wellness Business

      Established health and wellness business with equipment and client database.
      23 S Court Street L-3, Medina, OH 44256
      View Details
    • $1,325,000
      2,880 SF

      Freestanding Retail Building For Sale

      Freestanding retail building with high visibility and strong demographics.
      3105 Medina Rd, Medina, OH
      View Details
    • $1,500,000
      13,380 SF

      Retail and Office Space Available

      Commercial property suitable for retail or office use.
      3900 Pearl Rd, Medina, OH 44256
      View Details

    FAQs

    What type of property is this?
    Restaurant - 10,000 SF restaurant with banquet space, bar, and patio.
    Where is this restaurant located?
    The property is located at 5164 Normandy Park Dr Medina, OH.
    What is the asking price?
    The asking price for this property is $695,000.
    What are key features of this property?
    This property features: Fully Equipped Commercial Kitchen and Banquet Space (2,500 SF, Seats 155) ideal for immediate operation.; Includes all Furniture, Fixtures, and Equipment, minimizing start‑up costs.; D‑5, D‑6 Liquor License, Lottery & Sports Betting License included, providing immediate revenue streams.
    (412) 956-0066 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Emily Faust
    Emily Faust
    Real Estate License ID: SAL.2021003573
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!