Historic Restaurant and
New
For Sale
$620,000
8148 Main Street, Garrettsville, OH 44231
CommercialSale, Garrettsville, OH
Property Size9,170 SF
Lot Size0.15 Acres
Price / SF$67.61
Days on Market4
Property Features for 8148 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Rooms
Basement
Subdivision
Nelson
Elementary school district
James A Garfield LSD - 6704
Middle school district
James A Garfield LSD - 6704
High school district
James A Garfield LSD - 6704
Directions
OH-88 W, then turn left onto Main St.
Standard status
Active
APN
19-002-00-00-145-000
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
DIV N LOT 112 F 59
Tax Annual Amount
5740
Legal Description
DIV N LOT 112 F 59
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1804
Roof type
Fiberglass, Asphalt
Listing Agency:
Vincent Patrick Realty
(330) 577-3546
Listed By:
Lauren Patrick · License #2019004431
(330) 527-3000
Added: Sep 11
Changed: Sep 14
Last Checked: Sep 14 at 10:06PM
MLS# 5242141
Copyright © 2026 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1804, this approximately 9,170 SF property combines an operating restaurant, bar, ice cream shop, and 3.5-barrel craft brewery. The 2019 renovation retained original beams and other mill features while adding a commercial kitchen with full fire suppression, a front bar, and a rear dining room positioned above Eagle Creek and the falls. Two outdoor dining areas include a rear deck and a front patio facing Main Street and the Buckeye Block amphitheater.
The walkout lower level has a private entrance, access to the waterfall deck, original mill artifacts, and a viewing area into the mill workings. An additional approximately 1,420 SF attic provides supplemental space. The sale 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. Public water and public sewer serve the property.
The walkout lower level has a private entrance, access to the waterfall deck, original mill artifacts, and a viewing area into the mill workings. An additional approximately 1,420 SF attic provides supplemental space. The sale 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. Public water and public sewer serve the property.
Key Highlights
- Approx. 9,170 SF historic restaurant, bar, ice cream shop, and brewery property
- Built in 1804 with original beams and mill features retained
- Operating 3.5‑barrel craft brewery 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
$36,044
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
5.81%
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%
$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
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
$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 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%
$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.
Property Analytics
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Operating food-and-beverage property with restaurant, bar, ice cream service, and onsite craft brewing.
Where is this conventional restaurant located?
The property is located at 8148 Main Street 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: Approx. 9,170 SF historic restaurant, bar, ice cream shop, and brewery property; Built in 1804 with original beams and mill features retained; Operating 3.5‑barrel craft brewery included
