Renovated Two-Story
For Sale
$1,900,000
204 W Loveland Ave, Loveland, OH 45140
Fully renovated restaurant property with a rooftop bar, commercial kitchen, and additional basement storage.
Property Size9,726 SF
Price / SF$195.35
Days on Market38
Property Features for 204 W Loveland Ave
General Information
Standard status
Active
Size
9,726 SF
Additional Details
Business Included
Yes
Building Details
Year Built
2018
Buildings
1
Stories
2
Listing Agency:
Keller Williams Advisors
(513) 766-9200
Listed By:
Kristen D Carter · License #2017004048
Source:
Lovdalgroup
Added: Jul 23
Changed: Aug 28
Last Checked: Aug 25 at 5:05AM
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 Advisors
Investment Insights
Based on property information with market context.
This two-story restaurant property encompasses 9,726 square feet, including 7,500 square feet of restaurant and retail space and an 1,800-square-foot rooftop bar. The approximately 1,600-square-foot commercial kitchen is fully equipped and includes a walk-in refrigerator/freezer, while basement storage provides additional support space. The building was entirely renovated with upscale finishes and updated mechanical systems and has been maintained in that condition.
Located at 204 W Loveland Ave in Loveland, Ohio, the property carries a 100% property tax abatement through December 2030. The current operator is prepared to lease the building for the foreseeable future, providing an existing occupancy structure for consideration.
Located at 204 W Loveland Ave in Loveland, Ohio, the property carries a 100% property tax abatement through December 2030. The current operator is prepared to lease the building for the foreseeable future, providing an existing occupancy structure for consideration.
Key Highlights
- 9,726‑square‑foot restaurant property at 204 W Loveland Ave, Loveland, OH 45140
- 7,500sqft of restaurant/retail space across 2 floors
- 1,800sqft rooftop bar
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
$114,429
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
6.02%
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%
$2,288,580
$2.3M
Cap Rate 7%
$1,634,700
$1.6M
Cap Rate 9%
$1,271,433
$1.3M
Market Conditions
NOI Build-Up for 9,726 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
$204.2K $21.00/SF
− Vacancy
−$51.7K −$5.31/SF
EGI
$152.6K $15.69/SF
− OpEx
−$38.1K −$3.92/SF
NOI
$114.4K $11.77/SF
Area
Clermont County, OH
Vacancy
25.30%
Lease Rate
$21.00 /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%
$2,288,580
Cap Rate 7%
$1,634,700
Cap Rate 9%
$1,271,433
Alternative Uses
Best Use
Specialty Retail
$1.63M
$1.43M – $1.91M
NOI $114,429 @ 7.0% cap · market cap 6.02%
Second Best
Industrial
$726.8K
$635.9K – $847.9K
NOI $50,874 @ 7.0% cap · market cap 2.68%
Theoretical Best
Office A
$1.74M
$1.53M – $2.03M
NOI $122,057 @ 7.0% cap · market cap 6.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
546
Businesses Nearby
30k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 41%
Apparel 29%
Shops & Services 27%
Home Improvements & Furnishings 3%
Goodwill
Apparel
8,824 visits/mo
0.5 miles
Dunkin' Donuts
Dining
7,270 visits/mo
0.4 miles
Graeter's Ice Cream
Dining
5,272 visits/mo
0.2 miles
BP
Shops & Services
4,897 visits/mo
0.4 miles
QuikStop
Shops & Services
3,322 visits/mo
0.4 miles
Demographics for 45140, OH
56,386
Population
22,684
Households
2.5
Avg Household Size
40
Median Age
53%
College-Educated
97%
High-School Grad
44.1 sq mi
ZIP Area
1,279
Density / Sq Mi
$110,781
Median Household Income
$58,882
Median Earnings
$1,379
Median Rent
$340,800
Median Home Value
Market
Vacancy Rate% for Retail 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?
Conventional restaurant - Fully renovated restaurant property with a rooftop bar, commercial kitchen, and additional basement storage.
Where is this conventional restaurant located?
The property is located at 204 W Loveland Ave Loveland, OH.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 9,726‑square‑foot restaurant property at 204 W Loveland Ave, Loveland, OH 45140; 7,500sqft of restaurant/retail space across 2 floors; 1,800sqft rooftop bar
