Two-Bay Automotive
For Sale
$174,900
Pending
1822 Tytus Avenue, Middletown, OH 45042
Commercial Sale, Middletown, OH
Property Size1,244 SF
Lot Size0.16 Acres
Days on Market117
Property Features for 1822 Tytus Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
On Street
Interior features
Drive-in Door, Under 12 Doors
Directions
University Blvd. to Reinartz to Charles Street to Tytus Avenue, property is on corner
Subdivision
Butler-W19
Standard status
Pending
APN
Q6532023000017
Size
1,244 SF
Lot size
0.16 Acres
Utilities
Heating system
Forced Air
Amenities
two overhead bay doors
dedicated reception area
restrooms
spacious paved lot
Building Details
Year built
1961
Flooring type
Concrete
Building materials
Brick, Wood Siding
Roof type
Shingle
Listing Agency:
eXp Realty
(216) 242-2322
Listed By:
Gregory Christian
(866) 212-4991
Added: May 4
Changed: Aug 20
Last Checked: Aug 28 at 7:06PM
MLS# 1877798
Copyright © 2026 MLS of Greater Cincinnati, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,244-square-foot automotive facility was built in 1961 and combines a service area with two overhead bay doors, a separate reception area, and restrooms. Concrete flooring, forced-air heating, brick and wood siding, and a shingle roof are among the existing building features. The property occupies 0.1561 acres and includes a paved lot that can support parking or vehicle-related operations.
Positioned at 1822 Tytus Avenue in Middletown, Ohio, the site is zoned B-1. On-street parking is also identified among the property features, providing an additional parking option for the facility.
Positioned at 1822 Tytus Avenue in Middletown, Ohio, the site is zoned B-1. On-street parking is also identified among the property features, providing an additional parking option for the facility.
Key Highlights
- 1,244‑square‑foot automotive facility on 0.1561 acres
- Two overhead bay doors for vehicle service access
- Dedicated reception area and restrooms
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
$7,825
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
4.47%
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%
$156,500
$156.5K
Cap Rate 7%
$111,786
$111.8K
Cap Rate 9%
$86,944
$86.9K
Market Conditions
NOI Build-Up for 1,244 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
$11.9K $9.60/SF
− Vacancy
−$764 −$0.61/SF
EGI
$11.2K $8.99/SF
− OpEx
−$3.4K −$2.70/SF
NOI
$7.8K $6.29/SF
Area
Butler County, OH
Vacancy
6.40%
Lease Rate
$9.60 /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%
$156,500
Cap Rate 7%
$111,786
Cap Rate 9%
$86,944
Alternative Uses
Best Use
Industrial
$111.8K
$97.8K – $130.4K
NOI $7,825 @ 7.0% cap · market cap 4.47%
Second Best
Retail
$75.5K
$66.0K – $88.0K
NOI $5,282 @ 7.0% cap · market cap 3.02%
Theoretical Best
Office A
$246.0K
$215.2K – $287.0K
NOI $17,217 @ 7.0% cap · market cap 9.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
361
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 45042, OH
26,972
Population
12,324
Households
2.2
Avg Household Size
42
Median Age
20%
College-Educated
91%
High-School Grad
49.2 sq mi
ZIP Area
548
Density / Sq Mi
$66,732
Median Household Income
$41,800
Median Earnings
$950
Median Rent
$192,400
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.
Similar Off Market Nearby
- Big Al's Muffler & Brake Services — 1811 central ave, middletown, oh 45044
- Dempster Tire Pros — 135 N Verity Pkwy, Middletown, OH 45042
- ABW Automotive — 1515 Manchester Ave, Middletown, OH 45042
- Assured Automotive — 215 charles st, middletown, oh 45042
- Anything Auto-N-Tire — 215 Charles St, Middletown, OH 45042
Frequently Asked Questions
What type of property is this?
Auto shop - B-1-zoned facility with reception space, restrooms, and a paved lot for parking or operations.
Where is this auto shop located?
The property is located at 1822 Tytus Avenue Middletown, OH.
What is the asking price?
The asking price for this property is $174,900.
What are key features of this property?
This property features: 1,244‑square‑foot automotive facility on 0.1561 acres; Two overhead bay doors for vehicle service access; Dedicated reception area and restrooms
