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    324 Delaware Ave Put-in-Bay, OH 43456

    • Retail properties
    • 25,656 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 324 Delaware Ave

    Property size
    25,656 SF
    Property type
    Retail properties
    Property subtype
    Restaurants

    Description

    This exceptional Put-in-Bay, Ohio restaurant complex presents a rare investment opportunity. The property, located at 324 Delaware Ave, encompasses a substantial 25,656 square feet on a generous 1.05-acre lot. The complex includes the renowned Beer Barrel Saloon, the popular Tippers Restaurant featuring an inviting outdoor patio, and a convenient carry-out beverage center. This full-service establishment offers diverse revenue streams, catering to a wide range of clientele. The asking price is $6,900,000, reflecting the significant value and potential of this established business. Situated in the vibrant and highly sought-after tourist destination of Put-in-Bay, this property benefits from consistent high foot traffic and seasonal demand. The substantial square footage allows for ample space for dining, bar service, and operational areas. The combination of established brands and prime location makes this a truly unique and lucrative investment prospect. The property's size and diverse offerings provide significant upside potential for expansion and increased profitability. This is an exceptional opportunity to acquire a well-established and highly profitable business in a premier location. Don't miss this chance to own a piece of Put-in-Bay's iconic hospitality scene. The property is located in Ottawa County, Ohio, zip code 43456.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Put-in-Bay
    County
    Ottawa
    State
    Ohio
    Longitude
    -82.8195
    Latitude
    41.6529

    Comparable in this City

    • Value Estimation
      $815,000
      7,280 SF

      419 Catawba Ave

      RESTAURANT • 7,280 SF
      419 Catawba Ave, Put In Bay, OH 43456
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    • Value Estimation by Request
      4,800 SF

      240 Delaware St

      RESTAURANT • 4,800 SF
      240 Delaware St, Put In Bay, OH 43456-6624
      View Details
    • Value Estimation
      $1,755,000
      30,730 SF

      324 Delaware St

      RESTAURANT • 30,730 SF
      324 Delaware St, Put In Bay, OH 43456-6622
      View Details
    • Value Estimation
      $905,000
      7,792 SF

      441 Catawba Ave

      RESTAURANT • 7,792 SF
      441 Catawba Ave, Put In Bay, OH 43456-6536
      View Details
    • Value Estimation
      $590,000
      7,680 SF

      820 Catawba Ave

      RESTAURANT • 7,680 SF
      820 Catawba Ave, Put In Bay, OH 43456-6558
      View Details
    • Value Estimation
      $520,000
      4,096 SF

      1248 Tri Motor

      RESTAURANT • 4,096 SF
      1248 Tri Motor, Put In Bay, OH 43456
      View Details

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      Put-In-Bay Commercial Land Opportunity

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      Put-In-Bay Commercial Land Opportunity

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    324 Delaware Ave
    Put-in-Bay, OH 43456
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    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
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