Former Restaurant Building For
For Sale
$545,000
11020 Hamilton Avenue, Cincinnati, OH 45231
3,816 SF former restaurant on 0.94 acres available.
Property Size3,816 SF
Lot Size0.94 Acres
Price / SF$142.82
Days on Market130
Property Features for 11020 Hamilton Avenue
General Information
Standard status
Active
Size
3,816 SF
Lot size
0.94 Acres
Property subtype
Retail
Listing Agency:
NAI Bergman
(513) 703-2204
Listed By:
David Metz · License #OH #SAL.2002005228
(513) 703-2204
Source:
Naiglobal
Added: Apr 1
Changed: Jul 10
Last Checked: Aug 8 at 4:23AM
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 NAI Bergman
Investment Insights
Based on property information with market context.
A former restaurant building is available for sale. The building has an area of 3,816 square feet and is situated on a 0.94-acre lot. The property formerly operated as a Taco Bell. It offers convenient access to I-275.
Key Highlights
- Former Taco Bell Restaurant
- 3,816 SF Building Size
- 0.94 Acre Lot Size
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
$42,415
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
7.78%
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%
$848,300
$848.3K
Cap Rate 7%
$605,929
$605.9K
Cap Rate 9%
$471,278
$471.3K
Market Conditions
NOI Build-Up for 3,816 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
$59.5K $15.60/SF
− Vacancy
−$3.0K −$0.78/SF
EGI
$56.6K $14.82/SF
− OpEx
−$14.1K −$3.70/SF
NOI
$42.4K $11.11/SF
Area
ZIP 45231
Vacancy
5.00%
Lease Rate
$15.60 /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%
$848,300
Cap Rate 7%
$605,929
Cap Rate 9%
$471,278
Alternative Uses
Best Use
Specialty Retail
$605.9K
$530.2K – $706.9K
NOI $42,415 @ 7.0% cap · market cap 7.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$758.6K
$663.8K – $885.0K
NOI $53,100 @ 7.0% cap · market cap 9.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
351
Businesses Nearby
Explore this area
Business Placement
Demographics for 45231, OH
41,934
Population
17,845
Households
2.3
Avg Household Size
40
Median Age
27%
College-Educated
91%
High-School Grad
14.8 sq mi
ZIP Area
2,833
Density / Sq Mi
$69,140
Median Household Income
$43,400
Median Earnings
$1,118
Median Rent
$164,900
Median Home Value
Market
Vacancy Rate% for Retail in Cincinnati, OH
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Drive through restaurant - 3,816 SF former restaurant on 0.94 acres available.
Where is this drive through restaurant located?
The property is located at 11020 Hamilton Avenue Cincinnati, OH.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: Former Taco Bell Restaurant; 3,816 SF Building Size; 0.94 Acre Lot Size
