Renovated Two-Story
New
For Sale
$1,900,000
204 W Loveland Avenue, Loveland, OH 45140
Commercial Sale, Loveland, OH
Property Size9,726 SF
Lot Size0.04 Acres
Price / SF$195.35
Days on Market2
Property Features for 204 W Loveland Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
On Street
Security features
Security Lighting
Interior features
Security Light, Elevator, Sprinkler Wet, Smoke Detector, Alarm System, Display Window
Exterior features
Sidewalks, Curb/Gutter, Lights
Accessibility
Accessible Elevator Installed
Directions
Loveland Madeira Rd to R on West Loveland Ave
Subdivision
Clermont-C02
Standard status
Active
APN
20-06-02A-011B
Size
9,726 SF
Lot size
0.04 Acres
Utilities
Heating system
Heat Pump (Heating), Forced Air
Amenities
Rooftop bar
Basement storage space
Building Details
Year built
2018
Flooring type
Tile, Wood
Building materials
Brick
Roof type
Membrane, Shingle
Listing Agency:
Keller Williams Advisors · Keller Williams Realty
(513) 766-9200
Listed By:
Kristen Carter · License #2017004048
(614) 932-2000
Added: Sep 9
Last Checked: Sep 10 at 11:06AM
MLS# 1893309
Copyright © 2026 MLS of Greater Cincinnati, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 9,726-square-foot restaurant property in Loveland, Ohio, occupies two floors and includes a 1,800-square-foot rooftop bar, basement storage, and a fully equipped commercial kitchen of approximately 1,600 square feet. Kitchen equipment includes a walk-in refrigerator/freezer. The building was renovated and features upscale finishes, updated mechanical systems, brick construction, tile and wood flooring, an elevator, wet sprinkler protection, smoke detectors, and an alarm system.
The property is located at 204 W Loveland Avenue and includes on-street parking, sidewalks, curb and gutter, exterior lighting, and display windows. An accessible elevator is installed. The building has a 100% property tax abatement through December 2030. The current operator is prepared to lease the building for the foreseeable future.
The property is located at 204 W Loveland Avenue and includes on-street parking, sidewalks, curb and gutter, exterior lighting, and display windows. An accessible elevator is installed. The building has a 100% property tax abatement through December 2030. The current operator is prepared to lease the building for the foreseeable future.
Key Highlights
- 9,726 square feet of restaurant property on two floors
- 1,800‑square‑foot rooftop bar
- Approximately 1,600‑square‑foot commercial kitchen
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
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Open Analytics
Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Includes a rooftop bar, commercial kitchen, and basement storage.
Where is this conventional restaurant located?
The property is located at 204 W Loveland Avenue 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 feet of restaurant property on two floors; 1,800‑square‑foot rooftop bar; Approximately 1,600‑square‑foot commercial kitchen
