Freestanding Restaurant with
For Sale
Contact for pricing
4765 Montgomery Rd, Cincinnati, OH 45212
Single-tenant restaurant building with drive-through infrastructure, pylon signage, and signalized access in a commercial retail corridor.
Property Size5,560 SF
Lot Size1.07 Acres
Price / SF$136.30
Days on Market132
Property Features for 4765 Montgomery Rd
General Information
Standard status
Active
Size
5,560 SF
Lot size
1.07 Acres
Property subtype
Retail
Zoning
CBD
Site & Location
Drive-Thru
Yes
Pylon Signage
Yes
Traffic Count
78,000 vehicles/day
Road Access
Yes
Amenities
Signalized access
Flexible single-tenant layout
Building Details
Buildings
1
Tenancy
Single
Listing Agency:
Tranzon LLC Elizabethtown
Listed By:
Edward Durnil · License #KY P1734
Source:
Crexi
Added: Apr 21
Changed: Aug 30
Last Checked: Aug 30 at 9:39AM
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.
The property is a 5,560-square-foot freestanding former Frisch’s restaurant on approximately 1.07 acres. The single-tenant layout includes existing drive-through infrastructure and pylon signage, supporting restaurant reuse, retail conversion, or adaptive reuse. The site is zoned Central Business District (CBD) by the City of Norwood.
Access is provided through a signalized point along Montgomery Road, with traffic exposure from Montgomery Road and Norwood Lateral Parkway. The surrounding retail corridor includes Kroger, Walgreens, Advance Auto Parts, Piada, Chipotle, McDonald’s, Wendy’s, Taco Bell, and LaRosa’s. Reported 2024 traffic counts are 16,808 VPD on Montgomery Road and 61,892 VPD on Norwood Lateral Parkway. The property is located at 4765 Montgomery Rd in Cincinnati, Ohio.
Access is provided through a signalized point along Montgomery Road, with traffic exposure from Montgomery Road and Norwood Lateral Parkway. The surrounding retail corridor includes Kroger, Walgreens, Advance Auto Parts, Piada, Chipotle, McDonald’s, Wendy’s, Taco Bell, and LaRosa’s. Reported 2024 traffic counts are 16,808 VPD on Montgomery Road and 61,892 VPD on Norwood Lateral Parkway. The property is located at 4765 Montgomery Rd in Cincinnati, Ohio.
Key Highlights
- 5,560 SF freestanding former Frisch’s restaurant on approximately 1.07 acres
- Existing drive‑through infrastructure and high‑visibility pylon signage
- Signalized access along Montgomery Road
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
$64,101
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
8.46%
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%
$1,282,020
$1.3M
Cap Rate 7%
$915,729
$915.7K
Cap Rate 9%
$712,233
$712.2K
Market Conditions
NOI Build-Up for 5,560 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
$100.1K $18.00/SF
− Vacancy
−$8.5K −$1.53/SF
EGI
$91.6K $16.47/SF
− OpEx
−$27.5K −$4.94/SF
NOI
$64.1K $11.53/SF
Area
Cincinnati, OH
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,282,020
Cap Rate 7%
$915,729
Cap Rate 9%
$712,233
Alternative Uses
Best Use
Specialty Retail
$1.06M
$930.8K – $1.24M
NOI $74,460 @ 7.0% cap · market cap 9.83%
Second Best
Retail
$915.7K
$801.3K – $1.07M
NOI $64,101 @ 7.0% cap · market cap 8.46%
Theoretical Best
Office A
$1.11M
$967.1K – $1.29M
NOI $77,367 @ 7.0% cap · market cap 10.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
78,000 VPD
Traffic count
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,166
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 45212, OH
21,885
Population
11,027
Households
2
Avg Household Size
33
Median Age
38%
College-Educated
90%
High-School Grad
3.7 sq mi
ZIP Area
5,915
Density / Sq Mi
$63,698
Median Household Income
$43,413
Median Earnings
$932
Median Rent
$229,400
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?
Conventional restaurant - Single-tenant restaurant building with drive-through infrastructure, pylon signage, and signalized access in a commercial retail corridor.
Where is this conventional restaurant located?
The property is located at 4765 Montgomery Rd Cincinnati, OH.
What is the asking price?
The asking price for this property is $757,850.
What are key features of this property?
This property features: 5,560 SF freestanding former Frisch’s restaurant on approximately 1.07 acres; Existing drive‑through infrastructure and high‑visibility pylon signage; Signalized access along Montgomery Road
