Mixed-Use Property in Springboro,
For Sale
Contact for pricing
10 FAIRWAY DR, Springboro, OH 45066
2,810 SF mixed-use property available for sale.
Property Size2,523 SF
Price / SF$158.54
Days on Market112
Property Features for 10 FAIRWAY DR
General Information
Standard status
Active
Size
2,523 SF
Property subtype
Mixed Use
Building Details
Year Built
1962
Stories
2
Units
1
Listing Agency:
Ullery Real Estate LLC
(937) 673-8874
Listed By:
Lara Ullery · License #2019006507
Source:
Crexi
Added: May 13
Changed: Aug 21
Last Checked: Aug 30 at 9:30PM
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
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 = 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
$31,881
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
7.97%
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%
$637,620
$637.6K
Cap Rate 7%
$455,443
$455.4K
Cap Rate 9%
$354,233
$354.2K
Market Conditions
NOI Build-Up for 2,523 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
$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 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%
$637,620
Cap Rate 7%
$455,443
Cap Rate 9%
$354,233
Alternative Uses
Best Use
Mixed Use
$455.4K
$398.5K – $531.4K
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
NOI $39,448 @ 7.0% cap · market cap 9.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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
