Conditioned Industrial
For Sale
$3,250,000
6550 Hamilton Lebanon Road, Middletown, OH 45044
Conditioned industrial building available for sale or lease near I-75 in Monroe, close to major regional destinations.
Property Size27,025 SF
Days on Market198
Property Features for 6550 Hamilton Lebanon Road
General Information
Standard status
Active
Size
27,025 SF
Property subtype
Factory
Additional Details
Highway Access
Yes
Building Details
Building Size
27,025 SF
Year Built
2017
Properties For Sale
at 6550 Hamilton Lebanon Road Contact us- Size
- 27,025 SF
- Lease Type
- NNN
6550 Hamilton Lebanon Rd
Listing Agency:
NAI | Bergman
Listed By:
Scott Kaster · License ##SAL.2009000788
(937) 673-4366
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 25
Last Checked: Jul 23 at 6:00PM
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.
This conditioned industrial building is available for sale or lease. The property is presented as an industrial warehouse facility with conditioned space for business operations.
The asset is located in Monroe, a short distance from I-75, and is positioned between Cincinnati and Dayton. It is also in close proximity to Cincinnati Premium Outlets, Kings Island, and multiple restaurants.
The offering includes flexibility for users seeking a conditioned industrial warehouse setup in the I-75 corridor.
The asset is located in Monroe, a short distance from I-75, and is positioned between Cincinnati and Dayton. It is also in close proximity to Cincinnati Premium Outlets, Kings Island, and multiple restaurants.
The offering includes flexibility for users seeking a conditioned industrial warehouse setup in the I-75 corridor.
Key Highlights
- Conditioned industrial building for sale or lease
- Built in 2017
- Located in Monroe, a short distance from I‑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
$206,410
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
6.35%
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%
$4,128,200
$4.1M
Cap Rate 7%
$2,948,714
$2.9M
Cap Rate 9%
$2,293,444
$2.3M
Market Conditions
NOI Build-Up for 27,025 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
$259.4K $9.60/SF
− Vacancy
−$16.6K −$0.61/SF
EGI
$242.8K $8.99/SF
− OpEx
−$36.4K −$1.35/SF
NOI
$206.4K $7.64/SF
Area
Butler County, OH
Vacancy
6.40%
Lease Rate
$9.60 /SF/Yr
Expense Ratio
15.00%
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%
$4,128,200
Cap Rate 7%
$2,948,714
Cap Rate 9%
$2,293,444
Alternative Uses
Best Use
Warehouse
$2.95M
$2.58M – $3.44M
NOI $206,410 @ 7.0% cap · market cap 6.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.34M
$4.68M – $6.23M
NOI $374,037 @ 7.0% cap · market cap 11.51%
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
71
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 45044, OH
56,128
Population
21,645
Households
2.6
Avg Household Size
36
Median Age
30%
College-Educated
88%
High-School Grad
37.8 sq mi
ZIP Area
1,485
Density / Sq Mi
$71,942
Median Household Income
$40,568
Median Earnings
$1,034
Median Rent
$230,400
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Warehouse - Conditioned industrial building available for sale or lease near I-75 in Monroe, close to major regional destinations.
Where is this warehouse located?
The property is located at 6550 Hamilton Lebanon Road Middletown, OH.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: Conditioned industrial building for sale or lease; Built in 2017; Located in Monroe, a short distance from I‑75
