1313 Main StKent, OH 44240

  • Retail properties
  • 5,879 SF
For Sale
$1,200,000 View listing

Property Details for 1313 Main St

Year built
1948
Lot size
0.81 AC
Property size (Sq ft)
5,879 SF
Property type
Retail properties
Property subtype
Turn key restaurants
APN
17-027-10-00-010-002
APU
170271000010002

Description

This exceptional Kent, OH, property presents a lucrative investment opportunity. Located at 1313 W Main Street, this well-established restaurant and bar, known as The Bistro On Main, boasts a substantial 5,879 square feet of space on a 0.75-acre lot. The property has been under the same ownership for 19 years, demonstrating its enduring success and strong customer base. The spacious layout includes a remodeled bar with seating for 22 patrons, a lounge area accommodating 58 guests, a main dining room with seating for 68, and a three-season room with seating for an additional 26. A significant asset is the recently added patio, completed in 2016, which expands the seating capacity and outdoor dining options. Adding to the income potential, a separate apartment above the bar generates a monthly rental income of $2200. The sale includes both the building and the thriving business, offering a turnkey operation with established clientele and proven profitability. This is a rare chance to acquire a turnkey restaurant and bar with significant income potential in a desirable Kent location. The property is priced at $1,200,000.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $1,643,536
    6.5%
    $1,517,110
    7%
    $1,408,745
  • Comparable approach

    Method
    Valuation
    Relative Method
    $1,385,803
    Geo Method
    $1,385,803
  • Alternative Use

    Use
    Valuation
    Residential
    $1,279,739
    Hospitality
    $1,172,234
    Educational
    $975,285
    Medical
    $1,008,826
    Retail
    $1,517,110
1313 Main St, Kent, Ohio

Location Insight

City
Kent
County
Portage
State
Ohio
Latitude
41.1532
Longitude
-81.3907
CBSA code
10420
CBSA name
AKRON, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$7,371
$46,200
$60,800
$107,000
-
$132,000
$173,700
$305,700

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