Historic Restaurant and
8148 Main St, Garrettsville, OH 44231
For Sale
$620,000
Operating restaurant, bar, ice cream shop, and craft brewery in a renovated mill with indoor and outdoor dining areas.
Property Size9,170 SF
Price / SF$67.61
Days on Market49
Property Features for 8148 Main St
General Information
Standard status
Size
Financials
Asking Price
Business Included
Restaurant
Patio
Equipment Included
Liquor License
Additional Details
Furnished
Building Details
Year Built
Year Renovated
Listing Agency:
Vincent Patrick Realty
Listed By:
Lauren Patrick · License #2019004431
(330) 577-3546
Source:
Theacclaimedrealty
Added: Sep 20
Changed: Oct 26
Last Checked: Oct 7 at 5:32PM
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 Vincent Patrick Realty
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Investment Insights
Based on property information with market context.
Built in 1804 as a water-powered flour mill, this approximately 9,170-square-foot property combines an operating restaurant, bar, ice cream shop, and 3.5-barrel craft brewery. Renovated in 2019, the building retains original beams and other mill features. The restaurant includes a front bar, commercial kitchen with a full fire suppression system, and a rear dining room oriented toward Eagle Creek and the falls.
Outdoor seating includes a rear deck facing the waterfall and a front patio with views toward downtown Garrettsville, Main Street, and the Buckeye Block amphitheater. The walkout lower level has a private entrance, access to the rear deck, historic mill artifacts, and a viewing area into the mill workings. An additional approximately 1,420-square-foot attic provides storage or future improvement area. The offering includes restaurant and brewery equipment, furnishings, applicable non-leased equipment, and three Ohio liquor licenses identified as A1A, A1C, and D6, subject to verification and transfer approval.
Outdoor seating includes a rear deck facing the waterfall and a front patio with views toward downtown Garrettsville, Main Street, and the Buckeye Block amphitheater. The walkout lower level has a private entrance, access to the rear deck, historic mill artifacts, and a viewing area into the mill workings. An additional approximately 1,420-square-foot attic provides storage or future improvement area. The offering includes restaurant and brewery equipment, furnishings, applicable non-leased equipment, and three Ohio liquor licenses identified as A1A, A1C, and D6, subject to verification and transfer approval.
Key Highlights
- Approximately 9,170 SF historic mill property built in 1804
- Operating restaurant, bar, ice cream shop, and 3.5‑barrel craft brewery
- 2019 renovation with original beams and historic mill features retained
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,044
Cap Rate
5.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$720,880
$720.9K
Cap Rate 7%
$514,914
$514.9K
Cap Rate 9%
$400,489
$400.5K
Market Conditions
NOI Build-Up for 9,170 SF
Gross rent
$54.8K $5.98/SF
− Vacancy
−$3.3K −$0.36/SF
EGI
$51.5K $5.62/SF
− OpEx
−$15.4K −$1.68/SF
NOI
$36.0K $3.93/SF
Area
Portage County, OH
Vacancy
6.10%
Lease Rate
$5.98 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$720,880
Cap Rate 7%
$514,914
Cap Rate 9%
$400,489
Alternative Uses
Best Use
Specialty Retail
$1.71M
$1.50M – $2.00M
NOI $119,710 @ 7.0% cap · market cap 19.31%
Second Best
Industrial
$514.9K
$450.6K – $600.7K
NOI $36,044 @ 7.0% cap · market cap 5.81%
Theoretical Best
Office A
$1.85M
$1.62M – $2.15M
NOI $129,295 @ 7.0% cap · market cap 20.85%
Zoning and permitted uses should be independently verified with authorities.
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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
297
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44231, OH
8,398
Population
3,253
Households
2.6
Avg Household Size
41
Median Age
21%
College-Educated
86%
High-School Grad
48.9 sq mi
ZIP Area
172
Density / Sq Mi
$85,455
Median Household Income
$39,434
Median Earnings
$909
Median Rent
$204,700
Median Home Value
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Operating restaurant, bar, ice cream shop, and craft brewery in a renovated mill with indoor and outdoor dining areas.
Where is this conventional restaurant located?
The property is located at 8148 Main St Garrettsville, OH.
What is the asking price?
The asking price for this property is $620,000.
What are key features of this property?
This property features: Approximately 9,170 SF historic mill property built in 1804; Operating restaurant, bar, ice cream shop, and 3.5‑barrel craft brewery; 2019 renovation with original beams and historic mill features retained
