Freestanding Bar & Grill NNN
714 Lila Avenue Milford, OH 45150
714 Lila Avenue, Milford, OH, 45150
Contact for pricing
For Sale
Contact for pricing
By Golly’s Bar & Grill operates under a new 10-year NNN lease with 2% annual increases and renewal options.
Property Size5,592 SF
Price / SF$251.17
Days on Market57
Property Features for 714 Lila Avenue
General Information
- Standard status
- Active
- Size
- 5,592 SF
- Property subtype
- Retail
Listing agency
Marcus & Millichap - Los Angeles
(310) 909-5500
Listed by
Jason Fefer · License #CA 02100489
Source
Crexi
Added: May 26 Updated: Jul 21 at 5:09AM Checked: Jul 21 at 5:09AM
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
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $117.4k | $21.00 |
| − Vacancy | −$29.7k | −$5.31 |
| EGI | $87.7k | $15.69 |
| − OpEx | −$21.9k | −$3.92 |
| NOI | $65.8k | $11.77 |
5,592 SF · lease $21.00/SF/yr · vacancy 25.30% · expense 25.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
By Golly's Bar ...
Bar & Pub
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FAQs
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
