Unique Commercial Property with
For Sale
Contact for pricing
Pending
Oakwood Avenue, Lebanon, OH 45036
Versatile commercial property with high visibility and adaptive reuse potential.
Property Size2,100 SF
Days on Market98
Property Features for Oakwood Avenue
General Information
Standard status
Pending
Size
2,100 SF
Total Parking Spaces
5
Property subtype
Land
Investment Type
Value Add
Building Details
Year Built
1951
Units
5
Listing Agency:
Keller Williams Advisors Realty
(513) 295-5750
Listed By:
Jeffrey Boyle · License #2009001955
Source:
Crexi
Added: May 16
Changed: Aug 8
Last Checked: Jul 25 at 7:17AM
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 Keller Williams Advisors Realty
Investment Insights
Based on property information with market context.
This architecturally unique commercial property offers a blend of character and visibility, presenting a rare opportunity with endless potential. The building features a large covered front porch and a flexible, open-concept layout, complemented by private offices and basement space. Dedicated parking is available. The property's adaptive reuse possibilities make it ideal for a variety of businesses, including a café, boutique office, salon, creative studio, wellness business, insurance office, retail concept, or mixed-use vision. The location offers high visibility and strong curb appeal, blending historic charm with modern business potential. Currently being repositioned, the 2100 square foot property offers buyers the opportunity to customize the space to fit their specific needs.
Key Highlights
- High visibility location with strong curb appeal.
- Flexible, open‑concept layout suitable for diverse business types.
- Dedicated parking.
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
$20,507
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
8.73%
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%
$410,140
$410.1K
Cap Rate 7%
$292,957
$293.0K
Cap Rate 9%
$227,856
$227.9K
Market Conditions
NOI Build-Up for 2,100 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
$31.5K $15.00/SF
− Vacancy
−$2.2K −$1.05/SF
EGI
$29.3K $13.95/SF
− OpEx
−$8.8K −$4.19/SF
NOI
$20.5K $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 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%
$410,140
Cap Rate 7%
$292,957
Cap Rate 9%
$227,856
Alternative Uses
Best Use
Retail
$293.0K
$256.3K – $341.8K
NOI $20,507 @ 7.0% cap · market cap 8.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$469.1K
$410.4K – $547.3K
NOI $32,835 @ 7.0% cap · market cap 13.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
195
Businesses Nearby
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Versatile commercial property with high visibility and adaptive reuse potential.
Where is this retail space located?
The property is located at Oakwood Avenue Lebanon, OH.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: High visibility location with strong curb appeal.; Flexible, open‑concept layout suitable for diverse business types.; Dedicated parking.
