Building Details

Year Built 1962

Stories 2

Units 1

Listing Agency: Ullery Real Estate LLC

Listed By: Lara Ullery · License #2019006507 Show Phone

Source: Crexi

Added: May 13 Changed: Oct 8 Last Checked: Oct 14 at 11:26PM

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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 Ullery Real Estate LLC

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Investment Insights

Based on property information with market context.

This mixed-use property, offering 2,810 square feet, was last updated on April 5, 2018. The property is situated on a 2,523 square foot lot.

Key Highlights

• 2,810 SF of living space
• Built in 1962
• Constructed on 04/05/2018

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$31,881

Cap Rate

7.97%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$637,620 $637.6K

Cap Rate 7%

$455,443 $455.4K

Cap Rate 9%

$354,233 $354.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,523 SF

Gross rent

$54.5K $21.60/SF

− Vacancy

−$3.5K −$1.38/SF

EGI

$51.0K $20.22/SF

− OpEx

−$19.1K −$7.58/SF

NOI

$31.9K $12.64/SF

Area

Warren County, OH

Vacancy

6.40%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$637,620

Cap Rate 7%

$455,443

Cap Rate 9%

$354,233

Alternative Uses

Best Use

Mixed Use

$455.4K

$398.5K – $531.4K (±1% cap)

NOI $31,881 @ 7.0% cap · market cap 7.97%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$563.5K

$493.1K – $657.5K (±1% cap)

NOI $39,448 @ 7.0% cap · market cap 9.86%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Franklin Mortgage Solutions Loan Service

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Electrical Service Pharmacy Grocery & Convenience Store Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

693

Businesses Nearby

Explore this area Business Placement

Demographics for 45066, OH

26,399

Population

9,747

Households

2.7

Avg Household Size

40

Median Age

57%

College-Educated

98%

High-School Grad

20.4 sq mi

ZIP Area

1,294

Density / Sq Mi

$122,208

Median Household Income

$64,298

Median Earnings

$1,387

Median Rent

$362,500

Median Home Value

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Frequently Asked Questions

What type of property is this?

Mixed-use property - 2,810 SF mixed-use property available for sale.

Where is this mixed-use property located?

The property is located at 10 FAIRWAY DR Springboro, OH.

What is the asking price?

The asking price for this property is $400,000.

What are key features of this property?

This property features: 2,810 SF of living space; Built in 1962; Constructed on 04/05/2018