Two-Building Retail
For Sale
$1,200,000
11905 Hamilton Avenue, Cincinnati, OH 45231
NMB-zoned retail asset with separate buildings, existing occupants, outdoor storage, and access to I-275.
Property Size10,512 SF
Lot Size1.30 Acres
Price / SF$114.16
Days on Market9
Property Features for 11905 Hamilton Avenue
General Information
Standard status
Active
Size
10,512 SF
Total Parking Spaces
37
Lot size
1.30 Acres
Property subtype
SCR, SCR-FREE
Zoning
NMB
Financials
Asking Price
$1,200,000
Business Included
Yes
Site & Location
Traffic Count
25,000 vehicles/day
Highway Access
Yes
Building Details
Building Size
10,512 SF
Year Built
1995
Buildings
2
Stories
1
Tenancy
Multi
Listing Agency:
Keller Williams Seven Hills
(513) 592-9454
Listed By:
Jahmar Daniels · License #2014003211
(513) 592-9454
Source:
Realnex
Added: Aug 21
Changed: Aug 28
Last Checked: Aug 28 at 8:54PM
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 Keller Williams Seven Hills
Investment Insights
Based on property information with market context.
This offering includes two freestanding retail buildings totaling approximately 10,512 SF across 1.30 combined acres. The Hamilton Avenue property contains 7,950 SF, including approximately 6,928 SF of retail area, a private office, lunchroom, approximately 640 SF of garage space, and approximately 2,200 SF of fenced, partially covered outdoor storage. The 2,562 SF W. Kemper Road building is occupied by Prather Karate and provides existing rental income.
The properties provide approximately 37 combined parking spaces and 12- to 14-foot ceiling heights. Exposure to approximately 25,000 vehicles per day and convenient access to I-275 support the sites’ retail presence. NMB zoning is identified for the property. The Hamilton Avenue building is currently occupied by True Value Hardware, with the existing business and applicable business assets included in the offering. The asset can accommodate continued retail use, service operations, showroom functions, contractor activity, or an owner-user configuration, as supported by the existing improvements.
The properties provide approximately 37 combined parking spaces and 12- to 14-foot ceiling heights. Exposure to approximately 25,000 vehicles per day and convenient access to I-275 support the sites’ retail presence. NMB zoning is identified for the property. The Hamilton Avenue building is currently occupied by True Value Hardware, with the existing business and applicable business assets included in the offering. The asset can accommodate continued retail use, service operations, showroom functions, contractor activity, or an owner-user configuration, as supported by the existing improvements.
Key Highlights
- Two freestanding retail buildings totaling approximately 10,512 SF on 1.30 combined acres
- 7,950 SF Hamilton Avenue building with approximately 6,928 SF of retail space
- 2,562 SF W. Kemper Road building occupied by Prather Karate
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
$103,753
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
8.65%
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%
$2,075,060
$2.1M
Cap Rate 7%
$1,482,186
$1.5M
Cap Rate 9%
$1,152,811
$1.2M
Market Conditions
NOI Build-Up for 10,512 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
$157.7K $15.00/SF
− Vacancy
−$9.5K −$0.90/SF
EGI
$148.2K $14.10/SF
− OpEx
−$44.5K −$4.23/SF
NOI
$103.8K $9.87/SF
Area
ZIP 45231
Vacancy
6.00%
Lease Rate
$15.00 /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%
$2,075,060
Cap Rate 7%
$1,482,186
Cap Rate 9%
$1,152,811
Alternative Uses
Best Use
Retail
$1.48M
$1.30M – $1.73M
NOI $103,753 @ 7.0% cap · market cap 8.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.09M
$1.83M – $2.44M
NOI $146,275 @ 7.0% cap · market cap 12.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
25,000 VPD
Traffic count
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
190
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
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Frequently Asked Questions
What type of property is this?
Retail space - NMB-zoned retail asset with separate buildings, existing occupants, outdoor storage, and access to I-275.
Where is this retail space located?
The property is located at 11905 Hamilton Avenue Cincinnati, OH.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Two freestanding retail buildings totaling approximately 10,512 SF on 1.30 combined acres; 7,950 SF Hamilton Avenue building with approximately 6,928 SF of retail space; 2,562 SF W. Kemper Road building occupied by Prather Karate
