Storefront with Rear
For Sale
$600,000
26 32 N Broadway St, Lebanon, OH 45036
Two retail spaces are complemented by a private office and dedicated rear parking.
Property Size4,560 SF
Price / SF$131.58
Days on Market16
Property Features for 26 32 N Broadway St
General Information
Standard status
Active
Size
4,560 SF
Amenities
private office
dedicated rear parking lot
Building Details
Year Built
1950
Tenancy
Multi
Listing Agency:
Henkle-Schueler & Associates
(513) 228-6233
Listed By:
Danielle Chandler
Source:
Lovdalgroup
Added: Aug 14
Changed: Aug 28
Last Checked: Aug 28 at 9:42AM
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 Henkle-Schueler & Associates
Investment Insights
Based on property information with market context.
This 4,560-square-foot storefront property, built in 1950, contains two retail spaces occupied by boutique clothing retailers. A private office adds dedicated administrative space, while the rear parking lot provides on-site parking for the property.
The building is located at 26 32 N Broadway St in Lebanon, Ohio, within the city’s Historic Downtown district. The surrounding area includes shops, restaurants, and year-round events, with a walkable downtown setting that places the property among established commercial activity.
The building is located at 26 32 N Broadway St in Lebanon, Ohio, within the city’s Historic Downtown district. The surrounding area includes shops, restaurants, and year-round events, with a walkable downtown setting that places the property among established commercial activity.
Key Highlights
- Two retail spaces occupied by boutique clothing retailers
- Private office included within the property
- Dedicated rear parking lot
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
$44,528
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
7.42%
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%
$890,560
$890.6K
Cap Rate 7%
$636,114
$636.1K
Cap Rate 9%
$494,756
$494.8K
Market Conditions
NOI Build-Up for 4,560 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
$68.4K $15.00/SF
− Vacancy
−$4.8K −$1.05/SF
EGI
$63.6K $13.95/SF
− OpEx
−$19.1K −$4.19/SF
NOI
$44.5K $9.76/SF
Area
Warren County, OH
Vacancy
7.00%
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%
$890,560
Cap Rate 7%
$636,114
Cap Rate 9%
$494,756
Alternative Uses
Best Use
Retail
$636.1K
$556.6K – $742.1K
NOI $44,528 @ 7.0% cap · market cap 7.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$891.2K – $1.19M
NOI $71,298 @ 7.0% cap · market cap 11.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
195
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 45036, OH
41,060
Population
15,036
Households
2.7
Avg Household Size
39
Median Age
32%
College-Educated
92%
High-School Grad
81.2 sq mi
ZIP Area
506
Density / Sq Mi
$97,944
Median Household Income
$51,565
Median Earnings
$1,090
Median Rent
$317,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Two retail spaces are complemented by a private office and dedicated rear parking.
Where is this storefront property located?
The property is located at 26 32 N Broadway St Lebanon, OH.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Two retail spaces occupied by boutique clothing retailers; Private office included within the property; Dedicated rear parking lot
