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913 Lebanon St, Monroe, OH 45050
Adaptable building suitable for event center, church, or restaurant.
Property Size7,191 SF
Price / SF$166.88
Days on Market149
Property Features for 913 Lebanon St
General Information
Standard status
Active
Size
7,191 SF
Class
B
Property subtype
Hospitality, Office, Special Purpose
Zoning
C2
Investment Type
Owner/User
Building Details
Year Built
1985
Buildings
1
Stories
1
Listing Agency:
Republic Commercial Real Estate
(513) 549-5440
Listed By:
Nick Barela · License #OH 2011000312
Source:
Crexi
Added: Mar 16
Changed: Aug 8
Last Checked: Aug 10 at 11:36AM
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 Republic Commercial Real Estate
Investment Insights
Based on property information with market context.
This property offers immediate access to I-75 (Exit 29) and frontage on SR 63. The building features a 70' x 38' dining hall, a commercial kitchen, and multiple support rooms. It includes two full kitchens, large restrooms, and dedicated storage areas. A separate 4-car brick garage/maintenance building is also located on the premises. The property is surrounded by over 100 surface parking spaces. The zoning allows for various uses, including an event center, church, restaurant, or redevelopment.
Key Highlights
- Prime location with immediate access to I‑75 (Exit 29) and SR 63 frontage.
- Flexible zoning ideal for event center, church, restaurant, or redevelopment.
- Ample parking with 100+ surface spaces.
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
$75,721
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
6.31%
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%
$1,514,420
$1.5M
Cap Rate 7%
$1,081,729
$1.1M
Cap Rate 9%
$841,344
$841.3K
Market Conditions
NOI Build-Up for 7,191 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
$107.9K $15.00/SF
− Vacancy
−$6.9K −$0.96/SF
EGI
$101.0K $14.04/SF
− OpEx
−$25.2K −$3.51/SF
NOI
$75.7K $10.53/SF
Area
Butler County, OH
Vacancy
6.40%
Lease Rate
$15.00 /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%
$1,514,420
Cap Rate 7%
$1,081,729
Cap Rate 9%
$841,344
Alternative Uses
Best Use
Specialty Retail
$1.08M
$946.5K – $1.26M
NOI $75,721 @ 7.0% cap · market cap 6.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.42M
$1.24M – $1.66M
NOI $99,526 @ 7.0% cap · market cap 8.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
362
Businesses Nearby
Explore this area
Business Placement
Demographics for 45050, OH
12,173
Population
4,395
Households
2.8
Avg Household Size
38
Median Age
42%
College-Educated
96%
High-School Grad
8.4 sq mi
ZIP Area
1,449
Density / Sq Mi
$104,519
Median Household Income
$53,785
Median Earnings
$1,519
Median Rent
$273,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Church & religious facility - Adaptable building suitable for event center, church, or restaurant.
Where is this church & religious facility located?
The property is located at 913 Lebanon St Monroe, OH.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Prime location with immediate access to I‑75 (Exit 29) and SR 63 frontage.; Flexible zoning ideal for event center, church, restaurant, or redevelopment.; Ample parking with 100+ surface spaces.
