Freestanding Bar & Grill NNN
For Sale
Contact for pricing
Pending
714 Lila Avenue, Milford, OH 45150
By Golly’s Bar & Grill operates under a new 10-year NNN lease with 2% annual increases and renewal options.
Property Size5,592 SF
Days on Market103
Property Features for 714 Lila Avenue
General Information
Standard status
Pending
Size
5,592 SF
Property subtype
Retail
Occupancy
100%
Investment Type
Net Lease
Net Operating Income
$112,363
Building Details
Tenancy
Single
Listing Agency:
Marcus & Millichap - Los Angeles
Listed By:
Jason Fefer · License #CA 02100489
(310) 909-5500
Source:
Crexi
Added: May 26
Changed: Sep 2
Last Checked: Sep 1 at 8:28AM
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 Marcus & Millichap - Los Angeles
Investment Insights
Based on property information with market context.
Marcus & Millichap presents the opportunity to acquire a freestanding By Golly’s Bar & Grill. The property is leased on a long-term NNN basis and operates as a full-service casual dining restaurant with dine-in, bar, and takeout components. The lease is backed by a high-net-worth personal guaranty, and landlord responsibilities are described as zero under the lease terms. The 10-year NNN lease commenced in August 2024 and includes 2% annual rent increases, along with two five-year renewal options.
Located at 714 Lila Avenue in Milford, Ohio, the restaurant is positioned along Lila Avenue, identified as a primary commercial corridor with approximately 11,181 VPD, providing convenient ingress/egress. The property is also described as being near U.S. Route 50 and I-275, supporting connectivity throughout the Cincinnati region. The surrounding trade area includes established residential neighborhoods and local businesses, with major retail anchors noted such as Kroger, Walmart, ALDI, Lowe’s, Dutch Bros, and Panera, along with multiple national QSR and service brands.
At acquisition, the unit is operating with an active tenant under the new NNN lease structure, offering predictable, low-management income as described in the offering materials.
Located at 714 Lila Avenue in Milford, Ohio, the restaurant is positioned along Lila Avenue, identified as a primary commercial corridor with approximately 11,181 VPD, providing convenient ingress/egress. The property is also described as being near U.S. Route 50 and I-275, supporting connectivity throughout the Cincinnati region. The surrounding trade area includes established residential neighborhoods and local businesses, with major retail anchors noted such as Kroger, Walmart, ALDI, Lowe’s, Dutch Bros, and Panera, along with multiple national QSR and service brands.
At acquisition, the unit is operating with an active tenant under the new NNN lease structure, offering predictable, low-management income as described in the offering materials.
Key Highlights
- Freestanding By Golly’s Bar & Grill in Milford, Ohio
- New 10‑year NNN lease commenced August 2024 with 2% annual rent increases
- NNN lease includes two five‑year renewal options
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
$65,791
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
4.68%
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%
$1,315,820
$1.3M
Cap Rate 7%
$939,871
$939.9K
Cap Rate 9%
$731,011
$731.0K
Market Conditions
NOI Build-Up for 5,592 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
$117.4K $21.00/SF
− Vacancy
−$29.7K −$5.31/SF
EGI
$87.7K $15.69/SF
− OpEx
−$21.9K −$3.92/SF
NOI
$65.8K $11.77/SF
Area
Clermont County, OH
Vacancy
25.30%
Lease Rate
$21.00 /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%
$1,315,820
Cap Rate 7%
$939,871
Cap Rate 9%
$731,011
Alternative Uses
Best Use
Specialty Retail
$939.9K
$822.4K – $1.10M
NOI $65,791 @ 7.0% cap · market cap 4.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.00M
$877.2K – $1.17M
NOI $70,177 @ 7.0% cap · market cap 5.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
734
Businesses Nearby
117k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 33%
Groceries 32%
Dining 22%
Superstores 10%
Kroger
Groceries
37,250 visits/mo
0.3 miles
Kroger Fuel Center
Shops & Services
12,828 visits/mo
0.2 miles
Big Lots
Superstores
12,222 visits/mo
0.2 miles
Skyline Chili
Dining
11,392 visits/mo
0.1 miles
Speedway
Shops & Services
7,038 visits/mo
0.0 miles
Demographics for 45150, OH
33,735
Population
14,432
Households
2.3
Avg Household Size
42
Median Age
41%
College-Educated
95%
High-School Grad
32.3 sq mi
ZIP Area
1,044
Density / Sq Mi
$91,780
Median Household Income
$51,494
Median Earnings
$1,033
Median Rent
$267,900
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bar & Pub - By Golly’s Bar & Grill operates under a new 10-year NNN lease with 2% annual increases and renewal options.
Where is this bar & pub located?
The property is located at 714 Lila Avenue Milford, OH.
What is the asking price?
The asking price for this property is $1,404,540.
What are key features of this property?
This property features: Freestanding By Golly’s Bar & Grill in Milford, Ohio; New 10‑year NNN lease commenced August 2024 with 2% annual rent increases; NNN lease includes two five‑year renewal options
