Former Restaurant Freestanding
For Sale
Contact for pricing
Pending
2949 Dixie Hwy, Hamilton, OH 45015
Freestanding former Frisch’s restaurant building on a large site along Dixie Highway with signalized access and pylon signage.
Property Size6,437 SF
Lot Size1.64 Acres
Days on Market141
Property Features for 2949 Dixie Hwy
General Information
Standard status
Pending
Size
6,437 SF
Total Parking Spaces
85
Lot size
1.64 Acres
Property subtype
Retail
Zoning
B2
Building Details
Year Built
1995
Listing Agency:
Tranzon LLC Elizabethtown
Listed By:
Edward Durnil · License #2004021020
Source:
Crexi
Added: Apr 21
Changed: Aug 31
Last Checked: Aug 28 at 11:52PM
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 Tranzon LLC Elizabethtown
Investment Insights
Based on property information with market context.
This property features a freestanding former Frisch’s restaurant building of approximately 6,437 square feet with existing restaurant infrastructure in place. The building is noted as built in 1995 and sits on approximately 1.64 acres. The on-site configuration is described as flexible, supporting potential restaurant reuse, retail conversion, or redevelopment.
The property is located along Dixie Highway (Route 4) in Hamilton, Ohio, within a highly traveled corridor. It offers signalized access and pylon signage for roadside exposure, with stated traffic counts of 20,880 VPD north of the site and 20,066 VPD south of the site.
The offering is zoned B2, which the remarks state allows for a wide range of commercial uses. The property includes 85 parking spaces. The remarks also indicate the site is located about 4 miles from Spooky Nook Sports Complex and is positioned within an established commercial corridor with surrounding retail, dining, and residential density.
The property is located along Dixie Highway (Route 4) in Hamilton, Ohio, within a highly traveled corridor. It offers signalized access and pylon signage for roadside exposure, with stated traffic counts of 20,880 VPD north of the site and 20,066 VPD south of the site.
The offering is zoned B2, which the remarks state allows for a wide range of commercial uses. The property includes 85 parking spaces. The remarks also indicate the site is located about 4 miles from Spooky Nook Sports Complex and is positioned within an established commercial corridor with surrounding retail, dining, and residential density.
Key Highlights
- +/-6,437 SF freestanding former Frisch’s restaurant on +/-1.64 acres along Dixie Highway (Route 4) in Hamilton, OH
- Built in 1995 with existing restaurant infrastructure and a flexible layout for restaurant reuse, retail conversion, or redevelopment
- Zoned B2, allowing a wide range of commercial uses
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
$67,782
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
7.14%
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%
$1,355,640
$1.4M
Cap Rate 7%
$968,314
$968.3K
Cap Rate 9%
$753,133
$753.1K
Market Conditions
NOI Build-Up for 6,437 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
$96.6K $15.00/SF
− Vacancy
−$6.2K −$0.96/SF
EGI
$90.4K $14.04/SF
− OpEx
−$22.6K −$3.51/SF
NOI
$67.8K $10.53/SF
Area
Butler County, OH
Vacancy
6.40%
Lease Rate
$15.00 /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%
$1,355,640
Cap Rate 7%
$968,314
Cap Rate 9%
$753,133
Alternative Uses
Best Use
Specialty Retail
$968.3K
$847.3K – $1.13M
NOI $67,782 @ 7.0% cap · market cap 7.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $89,091 @ 7.0% cap · market cap 9.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
330
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 45015, OH
12,103
Population
5,146
Households
2.4
Avg Household Size
37
Median Age
11%
College-Educated
87%
High-School Grad
5.6 sq mi
ZIP Area
2,161
Density / Sq Mi
$45,543
Median Household Income
$37,660
Median Earnings
$1,041
Median Rent
$116,600
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.
Similar Off Market Nearby
- Cielito Lindo Mexican Buffet — 3256 Dixie Hwy, Fairfield, OH 45014
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Freestanding former Frisch’s restaurant building on a large site along Dixie Highway with signalized access and pylon signage.
Where is this conventional restaurant located?
The property is located at 2949 Dixie Hwy Hamilton, OH.
What is the asking price?
The asking price for this property is $948,840.
What are key features of this property?
This property features: +/-6,437 SF freestanding former Frisch’s restaurant on +/-1.64 acres along Dixie Highway (Route 4) in Hamilton, OH; Built in 1995 with existing restaurant infrastructure and a flexible layout for restaurant reuse, retail conversion, or redevelopment; Zoned B2, allowing a wide range of commercial uses
