Mixed-Use Bar and Rental
For Sale
$699,900
Pending
601 E Main Street, Lancaster, OH 43130
Combined hospitality and residential income property with an included liquor license and multiple parcels sold together.
Property Size7,294 SF
Days on Market431
Property Features for 601 E Main Street
General Information
Standard status
Pending
Size
7,294 SF
Property subtype
Mixed Use
Additional Details
Business Included
Yes
Liquor License
Yes
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$3,871
Building Details
Building Size
7,294 SF
Year Built
1900
Listing Agency:
Coldwell Banker Realty
(740) 215-6060
Listed By:
Tony Caito
(740) 215-6060
Source:
Camtaylor
Added: Jun 5, 2025
Changed: Aug 8
Last Checked: Aug 5 at 4:03AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This mixed-use property combines a bar and restaurant operation with six rental units across three parcels. The offering includes the properties identified as 601, 603, and 605 E Main Street, with the entire group conveyed together. A liquor license is included in the sale. The improvements total 7,294 square feet and date to 1900, providing a long-established physical setting for the combined commercial and residential uses.
Key Highlights
- 7,294‑square‑foot mixed‑use property
- Bar and restaurant operation included
- Six rental units included
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
$30,817
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
4.40%
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%
$616,340
$616.3K
Cap Rate 7%
$440,243
$440.2K
Cap Rate 9%
$342,411
$342.4K
Market Conditions
NOI Build-Up for 7,294 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
$42.0K $5.76/SF
− Vacancy
−$924 −$0.13/SF
EGI
$41.1K $5.63/SF
− OpEx
−$10.3K −$1.41/SF
NOI
$30.8K $4.22/SF
Area
Fairfield County, OH
Vacancy
2.20%
Lease Rate
$5.76 /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%
$616,340
Cap Rate 7%
$440,243
Cap Rate 9%
$342,411
Alternative Uses
Best Use
Mixed Use
$1.03M
$902.6K – $1.20M
NOI $72,211 @ 7.0% cap · market cap 10.32%
Second Best
Apartment 5plus
$922.4K
$807.1K – $1.08M
NOI $64,568 @ 7.0% cap · market cap 9.23%
Theoretical Best
Warehouse
$1.47M
$1.29M – $1.72M
NOI $102,908 @ 7.0% cap · market cap 14.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
1,102
Businesses Nearby
Explore this area
Business Placement
Demographics for 43130, OH
62,010
Population
26,434
Households
2.3
Avg Household Size
41
Median Age
23%
College-Educated
92%
High-School Grad
164.5 sq mi
ZIP Area
377
Density / Sq Mi
$68,242
Median Household Income
$43,936
Median Earnings
$1,031
Median Rent
$215,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Combined hospitality and residential income property with an included liquor license and multiple parcels sold together.
Where is this mixed-use property located?
The property is located at 601 E Main Street Lancaster, OH.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: 7,294‑square‑foot mixed‑use property; Bar and restaurant operation included; Six rental units included
