Conventional Restaurant with
For Sale
Contact for pricing
8850 Governors Hill Drive, Cincinnati, OH 45249
Former sports bar and restaurant with a front patio, large parking area, and electronic highway signage.
Property Size9,194 SF
Price / SF$162.61
Days on Market76
Property Features for 8850 Governors Hill Drive
General Information
Standard status
Active
Size
9,194 SF
Property subtype
Retail
Site & Location
Pylon Signage
Yes
Highway Access
Yes
Restaurant
Patio
Yes
Equipment Included
Yes
Liquor License
Yes
Building Details
Year Built
1986
Year Renovated
2012
Listing Agency:
Entertainment Properties Inc
Listed By:
JoAnne Serdar · License #OH 366864
Source:
Crexi
Added: Jul 28
Changed: Oct 9
Last Checked: Oct 9 at 6:24PM
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 Entertainment Properties Inc
Investment Insights
Based on property information with market context.
This conventional restaurant property was built in 1986 and underwent a substantial renovation in 2012. The building formerly operated as a sports bar and restaurant and includes a front patio, an oversized parking area, and select remaining equipment. Most usable, leased, and proprietary items have been removed.
An electronic readerboard sign positioned at the rear of the property is visible from the Fields Ertel exit off I-71. A transferable D5/D6 liquor permit may also be available through the current owner.
An electronic readerboard sign positioned at the rear of the property is visible from the Fields Ertel exit off I-71. A transferable D5/D6 liquor permit may also be available through the current owner.
Key Highlights
- 9,194‑square‑foot restaurant property constructed in 1986
- Substantial renovation completed in 2012; no additional updates since
- Former sports bar and restaurant with a front patio
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$123,126
Cap Rate
8.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,462,520
$2.5M
Cap Rate 7%
$1,758,943
$1.8M
Cap Rate 9%
$1,368,067
$1.4M
Market Conditions
NOI Build-Up for 9,194 SF
Gross rent
$176.5K $19.20/SF
− Vacancy
−$12.4K −$1.34/SF
EGI
$164.2K $17.86/SF
− OpEx
−$41.0K −$4.46/SF
NOI
$123.1K $13.39/SF
Area
Cincinnati, OH
Vacancy
7.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,462,520
Cap Rate 7%
$1,758,943
Cap Rate 9%
$1,368,067
Alternative Uses
Best Use
Specialty Retail
$1.76M
$1.54M – $2.05M
NOI $123,126 @ 7.0% cap · market cap 8.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.83M
$1.60M – $2.13M
NOI $127,935 @ 7.0% cap · market cap 8.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
668
Businesses Nearby
137k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 37%
Home Improvements & Furnishings 23%
Shops & Services 19%
Groceries 7%
The Home Depot
Home Improvements & Furnishings
31,296 visits/mo
0.4 miles
Shell
Shops & Services
22,867 visits/mo
0.4 miles
Gordon Food Service
Groceries
10,261 visits/mo
0.3 miles
Wendy's
Dining
10,244 visits/mo
0.3 miles
DSW Designer Shoe Warehouse
Apparel
9,222 visits/mo
0.1 miles
Demographics for 45249, OH
14,005
Population
5,740
Households
2.4
Avg Household Size
40
Median Age
71%
College-Educated
97%
High-School Grad
6.8 sq mi
ZIP Area
2,060
Density / Sq Mi
$107,227
Median Household Income
$68,477
Median Earnings
$1,476
Median Rent
$484,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Former sports bar and restaurant with a front patio, large parking area, and electronic highway signage.
Where is this conventional restaurant located?
The property is located at 8850 Governors Hill Drive Cincinnati, OH.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: 9,194‑square‑foot restaurant property constructed in 1986; Substantial renovation completed in 2012; no additional updates since; Former sports bar and restaurant with a front patio
