Building Details

Year Built 2024

Buildings 1

Stories 1

Building Size 4,440 SF

Listing Agency: Lohmiller Real Estate a***@lohmillerrealestate.com Show Phone

Listed By: Andrew P. Lohmiller · License #217844 Show Phone

Source: Exprealty

Added: Jun 29 Changed: Aug 22 Last Checked: Aug 24 at 12:48PM

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Investment Insights

Based on property information with market context.

Completed in 2024, this single-story warehouse contains 4,440 SF with a 20-foot clear height, poured concrete flooring, and four overhead doors. Two doors measure 12 feet in height, while the remaining two measure 14 feet. The building also includes an insulated, heated restroom and a 12-by-32-foot side canopy. LED fixtures illuminate the exterior, and the structure is suited to warehouse, garage, or light industrial operations.

The property covers approximately 2.03 acres at 4453 Monroe Ave in Hooven, Ohio, within the Whitewater Township corridor. Chain-link fencing with a barbed-wire header encloses the site, creating a secured yard with space for outdoor storage, equipment, or parking. The property carries Hamilton County use 455, identified as Commercial Garage, and offers access for contractor, fleet, mechanic, and other business operations.

Key Highlights

• 4,440 SF warehouse completed in 2024
• Approximately 2.03 acres with fenced outdoor yard
• 20' clear height and poured concrete slab

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

$23,451

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

5.21%

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%

$469,020 $469.0K

Cap Rate 7%

$335,014 $335.0K

Cap Rate 9%

$260,567 $260.6K

Market Conditions

NOI Build-Up for 4,440 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

$28.2K $6.36/SF

− Vacancy

−$649 −$0.15/SF

EGI

$27.6K $6.21/SF

− OpEx

−$4.1K −$0.93/SF

NOI

$23.5K $5.28/SF

Area

Hamilton County, OH

Vacancy

2.30%

Lease Rate

$6.36 /SF/Yr

Expense Ratio

15.00%

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%

$469,020

Cap Rate 7%

$335,014

Cap Rate 9%

$260,567

Alternative Uses

Best Use

Retail

$681.9K

$596.6K – $795.5K (±1% cap)

NOI $47,731 @ 7.0% cap · market cap 10.61%

Second Best

Flex RnD

$652.5K

$571.0K – $761.3K (±1% cap)

NOI $45,678 @ 7.0% cap · market cap 10.15%

Theoretical Best

Office A

$796.0K

$696.5K – $928.7K (±1% cap)

NOI $55,720 @ 7.0% cap · market cap 12.38%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Locksmith Auto Parts Store (Bike/Boat/Book/etc) Store Pharmacy Kitchen & Bath Showroom Pet Grooming Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

20 ft

Clear height

Yes

Fenced yard

Location Intelligence

Trade Area within ½ mile

105

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 45033, OH

323

Population

169

Households

1.9

Avg Household Size

41

Median Age

12%

College-Educated

84%

High-School Grad

0.3 sq mi

ZIP Area

1,077

Density / Sq Mi

$43,125

Median Household Income

$38,281

Median Earnings

$81,400

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this warehouses located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Warehouse - Newer commercial warehouse with heated restroom, overhead loading doors, and fenced outdoor storage area.

Where is this warehouse located?

The property is located at 4453 Monroe Ave Hooven, OH.

What is the asking price?

The asking price for this property is $450,000.

What are key features of this property?

This property features: 4,440 SF warehouse completed in 2024; Approximately 2.03 acres with fenced outdoor yard; 20' clear height and poured concrete slab