Building Details

Tenancy Multi

Listing Agency: NAI Bergman Show Phone

Listed By: Hayden Batchelor · License #SAL.2021004901 Show Phone

Source: Moodyscre

Added: Jun 29 Changed: Oct 13 Last Checked: Oct 15 at 1:52AM

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Investment Insights

Based on property information with market context.

This 4,768-square-foot shopping center at 729 Columbus Ave includes Little Caesars, Hot Head Burritos, and vacant space. The existing tenant mix combines two food-service operators with an available portion of the property, creating a multi-suite retail configuration.

The center fronts Columbus Avenue, identified as US-42, and provides access to SR-48, SR-63, and I-71. Current CAP is 6.7% based on existing occupancy, while the pro-forma CAP is 8.5% assuming the property reaches 100% leased status.

Key Highlights

• 4,768‑square‑foot shopping center at 729 Columbus Ave
• Existing tenants include Little Caesars and Hot Head Burritos
• Vacant space provides an available portion within the center

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$46,560

Cap Rate

3.61%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$931,200 $931.2K

Cap Rate 7%

$665,143 $665.1K

Cap Rate 9%

$517,333 $517.3K

Market Conditions

NOI Build-Up for 4,768 SF

Gross rent

$71.5K $15.00/SF

− Vacancy

−$5.0K −$1.05/SF

EGI

$66.5K $13.95/SF

− OpEx

−$20.0K −$4.19/SF

NOI

$46.6K $9.76/SF

Area

Warren County, OH

Vacancy

7.00%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$931,200

Cap Rate 7%

$665,143

Cap Rate 9%

$517,333

Alternative Uses

Best Use

Retail

$665.1K

$582.0K – $776.0K (±1% cap)

NOI $46,560 @ 7.0% cap · market cap 3.61%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.07M

$931.9K – $1.24M (±1% cap)

NOI $74,550 @ 7.0% cap · market cap 5.78%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Shopping centers

Suggested Use

Top Pick Locksmith (Bike/Boat/Book/etc) Store Big Box & Wholesale Store Carpet & Flooring Store Computer & Electronic Repair Tanning Salon

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

Multi-tenant

Tenancy

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

195

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 45036, OH

41,060

Population

15,036

Households

2.7

Avg Household Size

39

Median Age

32%

College-Educated

92%

High-School Grad

81.2 sq mi

ZIP Area

506

Density / Sq Mi

$97,944

Median Household Income

$51,565

Median Earnings

$1,090

Median Rent

$317,600

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this shopping centers 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?

Shopping center - Retail property includes two operating food tenants and an available suite.

Where is this shopping center located?

The property is located at 729 Columbus Ave Lebanon, OH.

What is the asking price?

The asking price for this property is $1,290,844.

What are key features of this property?

This property features: 4,768‑square‑foot shopping center at 729 Columbus Ave; Existing tenants include Little Caesars and Hot Head Burritos; Vacant space provides an available portion within the center