Flex Space with Fenced
For Sale
$395,000
4453 Monroe Avenue, Hooven, OH 45033
Commercial Sale, Whitewater Twp, OH
Property Size4,440 SF
Lot Size2.03 Acres
Price / SF$88.96
Days on Market93
Property Features for 4453 Monroe Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Fenced, Offsite, Garage
Security features
Security Lighting
Interior features
Security Light, Drive-in Door, Over 12 Doors
Exterior features
Full Fenced, Outside Storage, Lights
Fencing
Fenced
Directions
Take US 50 to Hooven Rd, turn right on Ohio St and then left on Monroe St. Property at the end of street, sign on.
Subdivision
Hamilton-W12
Standard status
Active
APN
630-0191-0120-00
Size
4,440 SF
Lot size
2.03 Acres
Utilities
Heating system
Baseboard
Amenities
insulated and heated restroom
LED lighting
side canopy
Building Details
Year built
2024
Flooring type
Concrete
Building materials
Metal Siding
Roof type
Metal
Additional Structures
Storage
Listing Agency:
Lohmiller Real Estate
(513) 371-5468
Listed By:
Andrew Lohmiller · License #RB14037175
(812) 537-1023
Added: Jun 25
Changed: Sep 24
Last Checked: Sep 25 at 12:06PM
MLS# 1884840
Copyright © 2026 MLS of Greater Cincinnati, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2024, this 4,440-square-foot flex property has a single-story metal-sided building with a 20-foot clear height and concrete flooring. Four overhead doors provide drive-in access: two are 12 feet tall and two are 14 feet tall. The interior also includes a heated, insulated restroom, while a 12-by-32-foot side canopy adds covered exterior space. LED fixtures illuminate the building’s exterior.
The property occupies approximately 2.03 acres in the Hooven/Cleves area of Whitewater Township. Chain-link fencing topped with barbed wire encloses the site, with yard area available for outdoor storage, equipment, or parking. The stated zoning is Hamilton County use 455 (Commercial Garage).
The property occupies approximately 2.03 acres in the Hooven/Cleves area of Whitewater Township. Chain-link fencing topped with barbed wire encloses the site, with yard area available for outdoor storage, equipment, or parking. The stated zoning is Hamilton County use 455 (Commercial Garage).
Key Highlights
- 4,440‑square‑foot building with 20‑foot clear height
- Four overhead doors: two 12 feet tall and two 14 feet tall
- Built in 2024; single‑story metal‑sided construction
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
5.94%
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%
$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
Flex RnD
$652.5K
$571.0K – $761.3K
NOI $45,678 @ 7.0% cap · market cap 11.56%
Second Best
Warehouse
$335.0K
$293.1K – $390.9K
NOI $23,451 @ 7.0% cap · market cap 5.94%
Theoretical Best
Office A
$796.0K
$696.5K – $928.7K
NOI $55,720 @ 7.0% cap · market cap 14.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
20 ft
Clear height
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
104
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - A heated restroom, multiple overhead doors, and a secured outdoor area support a range of garage and warehouse functions.
Where is this flex space located?
The property is located at 4453 Monroe Avenue Hooven, OH.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 4,440‑square‑foot building with 20‑foot clear height; Four overhead doors: two 12 feet tall and two 14 feet tall; Built in 2024; single‑story metal‑sided construction
