Mixed-Use Property with Restaurant
For Sale
Contact for pricing
3355 Madison Road, Cincinnati, OH 45209
Former restaurant property with a second-floor apartment, basement storage, and available D5 and D6 liquor licenses.
Property Size8,000 SF
Price / SF$168.75
Days on Market12
Property Features for 3355 Madison Road
General Information
Standard status
Active
Size
8,000 SF
Total Parking Spaces
36
Property subtype
Retail, Mixed Use
Zoning
MG-T
Lease Type
NNN
Restaurant
Commercial Hood
Yes
Equipment Included
Yes
Additional Details
Furnished
Yes
Amenities
basement storage
Building Details
Buildings
1
Tenancy
Single
Listing Agency:
CURO | BRKG
(513) 999-2876
Listed By:
Stephanie Golden · License #OH 2017003655
Source:
Crexi
Added: Aug 18
Changed: Aug 28
Last Checked: Aug 28 at 3:15AM
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 CURO | BRKG
Investment Insights
Based on property information with market context.
This 8,000-square-foot mixed-use property at 3355 Madison Road includes a former restaurant component with its fixtures, furniture, and equipment. Restaurant infrastructure includes two walk-in coolers and three hoods, while basement storage adds functional support space. A residential apartment occupies the second floor.
The property is near Oakley Station and its walkable amenities. D5 and D6 liquor licenses are available, and the building also offers redevelopment potential for a future owner or operator. The combination of restaurant improvements, storage, residential space, and licensing options creates a flexible existing configuration within Cincinnati’s 45209 ZIP code.
The property is near Oakley Station and its walkable amenities. D5 and D6 liquor licenses are available, and the building also offers redevelopment potential for a future owner or operator. The combination of restaurant improvements, storage, residential space, and licensing options creates a flexible existing configuration within Cincinnati’s 45209 ZIP code.
Key Highlights
- 8,000 SF mixed‑use property at 3355 Madison Road, Cincinnati, OH 45209
- Former restaurant includes fixtures, furniture, and equipment
- Two walk‑in coolers and 3 hoods
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
$107,136
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
7.94%
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%
$2,142,720
$2.1M
Cap Rate 7%
$1,530,514
$1.5M
Cap Rate 9%
$1,190,400
$1.2M
Market Conditions
NOI Build-Up for 8,000 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
$153.6K $19.20/SF
− Vacancy
−$10.8K −$1.34/SF
EGI
$142.8K $17.86/SF
− OpEx
−$35.7K −$4.46/SF
NOI
$107.1K $13.39/SF
Area
Cincinnati, OH
Vacancy
7.00%
Lease Rate
$19.20 /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%
$2,142,720
Cap Rate 7%
$1,530,514
Cap Rate 9%
$1,190,400
Alternative Uses
Best Use
Specialty Retail
$1.53M
$1.34M – $1.79M
NOI $107,136 @ 7.0% cap · market cap 7.94%
Second Best
Mixed Use
$1.39M
$1.22M – $1.62M
NOI $97,200 @ 7.0% cap · market cap 7.20%
Theoretical Best
Office A
$1.59M
$1.39M – $1.86M
NOI $111,320 @ 7.0% cap · market cap 8.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
867
Businesses Nearby
Explore this area
Business Placement
Demographics for 45209, OH
10,708
Population
6,592
Households
1.6
Avg Household Size
32
Median Age
75%
College-Educated
96%
High-School Grad
2.3 sq mi
ZIP Area
4,656
Density / Sq Mi
$87,841
Median Household Income
$67,356
Median Earnings
$1,291
Median Rent
$386,600
Median Home Value
Market
Vacancy Rate% for Retail in Cincinnati, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Former restaurant property with a second-floor apartment, basement storage, and available D5 and D6 liquor licenses.
Where is this mixed-use property located?
The property is located at 3355 Madison Road Cincinnati, OH.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 8,000 SF mixed‑use property at 3355 Madison Road, Cincinnati, OH 45209; Former restaurant includes fixtures, furniture, and equipment; Two walk‑in coolers and 3 hoods
