49-Key Interior Corridor
For Sale
Contact for pricing
40 New Garver Rd., Monroe, OH 45050
Baymont by Wyndham Monroe offers 49 keys in an interior corridor configuration and recently renovated under the Wyndham PIP.
Property Size21,116 SF
Price / SF$151.54
Days on Market55
Property Features for 40 New Garver Rd.
General Information
Standard status
Active
Size
21,116 SF
Property subtype
Hospitality
Zoning
N/Av, Monroe
Investment Type
Value Add
Additional Details
Highway Access
Yes
Building Details
Year Built
1993
Year Renovated
2024
Buildings
1
Stories
2
Units
49
Listing Agency:
T S Hotel Advisors, Inc.
Listed By:
Vijay Hira · License #02242534
Source:
Crexi
Added: Jul 15
Changed: Aug 15
Last Checked: Sep 7 at 10:55AM
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 T S Hotel Advisors, Inc.
Investment Insights
Based on property information with market context.
Baymont by Wyndham Monroe Ohio is a 49-key hotel featuring an interior corridor layout. The property has been recently renovated with a completed Wyndham PIP.
The hotel is located directly off Interstate 75 between Cincinnati and Dayton, providing straightforward access for regional travel.
This is presented as a turnkey offering for investors, with the provided remarks citing room for growth in occupancy, ADR, and profitability.
The hotel is located directly off Interstate 75 between Cincinnati and Dayton, providing straightforward access for regional travel.
This is presented as a turnkey offering for investors, with the provided remarks citing room for growth in occupancy, ADR, and profitability.
Key Highlights
- 49‑key Baymont by Wyndham Monroe hotel in an interior corridor configuration
- Built in 1993
- Directly located off Interstate 75 between Cincinnati and Dayton
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
$122,768
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
3.84%
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%
$2,455,360
$2.5M
Cap Rate 7%
$1,753,829
$1.8M
Cap Rate 9%
$1,364,089
$1.4M
Market Conditions
NOI Build-Up for 21,116 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
$304.1K $14.40/SF
− Vacancy
−$45.6K −$2.16/SF
EGI
$258.5K $12.24/SF
− OpEx
−$135.7K −$6.43/SF
NOI
$122.8K $5.81/SF
Area
Butler County, OH
Vacancy
15.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
52.50%
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%
$2,455,360
Cap Rate 7%
$1,753,829
Cap Rate 9%
$1,364,089
Alternative Uses
Best Use
Hotel Hospitality
$1.75M
$1.53M – $2.05M
NOI $122,768 @ 7.0% cap · market cap 3.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.18M
$3.65M – $4.87M
NOI $292,254 @ 7.0% cap · market cap 9.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
288
Businesses Nearby
Explore this area
Business Placement
Demographics for 45050, OH
12,173
Population
4,395
Households
2.8
Avg Household Size
38
Median Age
42%
College-Educated
96%
High-School Grad
8.4 sq mi
ZIP Area
1,449
Density / Sq Mi
$104,519
Median Household Income
$53,785
Median Earnings
$1,519
Median Rent
$273,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Hotel - Baymont by Wyndham Monroe offers 49 keys in an interior corridor configuration and recently renovated under the Wyndham PIP.
Where is this hotel located?
The property is located at 40 New Garver Rd. Monroe, OH.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: 49‑key Baymont by Wyndham Monroe hotel in an interior corridor configuration; Built in 1993; Directly located off Interstate 75 between Cincinnati and Dayton
