Wendy's Drive-Through
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For Sale
Contact for pricing
11960 Lebanon Rd, Cincinnati, OH 45241
QSR property at a signalized intersection with direct access to the I-75 corridor.
Property Size3,746 SF
Price / SF$427.12
Days on Market6
Property Features for 11960 Lebanon Rd
General Information
Standard status
Active
Size
3,746 SF
Property subtype
RETAIL
Additional Details
Highway Access
Yes
Listing Agency:
Hanna Commercial Real Estate | Central Ohio
(614) 906-2225
Listed By:
Scott Hrabcak · License #354109
(614) 906-2225
Source:
Moodyscre
Added: Aug 26
Changed: Aug 29
Last Checked: Aug 30 at 4:25PM
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 Hanna Commercial Real Estate | Central Ohio
Investment Insights
Based on property information with market context.
Wendy's is a 3,746-square-foot drive-through restaurant property identified as a QSR site. The asset is positioned at a signalized intersection, providing a defined access point for customers and vehicles.
Located at 11960 Lebanon Rd in Cincinnati, Ohio, the property sits directly off Interstate 75 within the I-75 corridor. Its restaurant configuration and established brand identity support continued consideration for drive-through restaurant operations.
Located at 11960 Lebanon Rd in Cincinnati, Ohio, the property sits directly off Interstate 75 within the I-75 corridor. Its restaurant configuration and established brand identity support continued consideration for drive-through restaurant operations.
Key Highlights
- 3,746‑square‑foot drive‑through restaurant property
- Signalized intersection location
- Directly off Interstate 75
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
$50,166
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
3.14%
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%
$1,003,320
$1.0M
Cap Rate 7%
$716,657
$716.7K
Cap Rate 9%
$557,400
$557.4K
Market Conditions
NOI Build-Up for 3,746 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
$71.9K $19.20/SF
− Vacancy
−$5.0K −$1.34/SF
EGI
$66.9K $17.86/SF
− OpEx
−$16.7K −$4.46/SF
NOI
$50.2K $13.39/SF
Area
Cincinnati, OH
Vacancy
7.00%
Lease Rate
$19.20 /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%
$1,003,320
Cap Rate 7%
$716,657
Cap Rate 9%
$557,400
Alternative Uses
Best Use
Specialty Retail
$716.7K
$627.1K – $836.1K
NOI $50,166 @ 7.0% cap · market cap 3.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$744.7K
$651.6K – $868.8K
NOI $52,126 @ 7.0% cap · market cap 3.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
545
Businesses Nearby
Explore this area
Business Placement
Demographics for 45241, OH
24,380
Population
11,131
Households
2.2
Avg Household Size
44
Median Age
48%
College-Educated
95%
High-School Grad
17.5 sq mi
ZIP Area
1,393
Density / Sq Mi
$94,943
Median Household Income
$60,857
Median Earnings
$1,137
Median Rent
$292,000
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?
Drive through restaurant - QSR property at a signalized intersection with direct access to the I-75 corridor.
Where is this drive through restaurant located?
The property is located at 11960 Lebanon Rd Cincinnati, OH.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 3,746‑square‑foot drive‑through restaurant property; Signalized intersection location; Directly off Interstate 75
