Two-Building Retail
731 Columbus Avenue Lebanon, OH 45036
731 Columbus Avenue, Lebanon, OH, 45036
$1,290,844
For Sale
$1,290,844
Two retail buildings include Hot Head Burritos and Little Caesars, with additional space available for lease.
Property Size4,768 SF
Lot Size1.25 Acres
Price / SF$270.73
Days on Market20
Property Features for 731 Columbus Avenue
General Information
- Standard status
- Active
- Size
- 4,768 SF
- Lot size
- 1.25 Acres
- Property subtype
- Retail
Listing agency
NAI Bergman
(513) 823-0068
Listed by
Hayden Batchelor · License #OH #SAL.2021004901
Source
Naiglobal
Added: Jul 3 Updated: Jul 22 at 8:02AM Checked: Jul 22 at 8:02AM
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 NAI Bergman
Investment Insights
Based on property information with market context.
This offering consists of two separate retail buildings on approximately 1.25 acres, totaling 4,768 square feet. One building is completely occupied by Hot Head Burritos. The second building is partly occupied by Little Caesars Pizza and includes an additional 1,495 square feet available for rent.
Located along Columbus Avenue (US-42) in Lebanon, Ohio, the property is positioned to benefit from high visibility and convenient access. Access is noted via SR-48, SR-63, and I-71.
The asking price is $1,290,844. Pro-forma CAP is 8.5% assuming 100% leased, and current CAP is 6.7% as-is occupancy.
Located along Columbus Avenue (US-42) in Lebanon, Ohio, the property is positioned to benefit from high visibility and convenient access. Access is noted via SR-48, SR-63, and I-71.
The asking price is $1,290,844. Pro-forma CAP is 8.5% assuming 100% leased, and current CAP is 6.7% as-is occupancy.
Key Highlights
- Two separate retail buildings totaling 4,768 SF on approximately 1.25 AC in Lebanon’s retail corridor
- Hot Head Burritos occupies one building (completely occupied)
- Little Caesars Pizza occupies part of the second building; additional 1,495 SF is available for rent
Local Financial Insights For 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 | $71.5k | $15.00 |
| − Vacancy | −$5.0k | −$1.05 |
| EGI | $66.5k | $13.95 |
| − OpEx | −$20.0k | −$4.19 |
| NOI | $46.6k | $9.76 |
4,768 SF · lease $15.00/SF/yr · vacancy 7.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$665.1K
$582.0K – $776.0K
NOI $46,560 @ 7.0% cap · market cap 3.61%
Second Best
Specialty Retail
$283.7K
$248.3K – $331.0K
NOI $19,860 @ 7.0% cap · market cap 1.54%
Theoretical Best
Office A
$1.07M
$931.9K – $1.24M
NOI $74,550 @ 7.0% cap · market cap 5.78%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Conventional restaurants
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Two retail buildings include Hot Head Burritos and Little Caesars, with additional space available for lease.
Where is this conventional restaurant located?
The property is located at 731 Columbus Avenue 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: Two separate retail buildings totaling 4,768 SF on approximately 1.25 AC in Lebanon’s retail corridor; Hot Head Burritos occupies one building (completely occupied); Little Caesars Pizza occupies part of the second building; additional 1,495 SF is available for rent
