Three-Story Mixed-Use Office
For Sale
$419,000
1011 Central Avenue, Middletown, OH 45044
Renovated commercial and residential property combines a street-level storefront with office space and an upper-floor apartment.
Property Size8,500 SF
Days on Market57
Property Features for 1011 Central Avenue
General Information
Standard status
Active
Size
8,500 SF
Class
C
Property subtype
Multi Tenant Office
Amenities
Storage Basement
Security system
Building Details
Building Size
8,500 SF
Year Built
1947
Buildings
1
Stories
3
Tenancy
Single
Owner Occupied
Yes
Listing Agency:
RIOsource Group
Listed By:
Douglas Klang
(937) 206-1925
Source:
Thebrokerlist
Added: Aug 21
Changed: Oct 12
Last Checked: Oct 14 at 7:38PM
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 RIOsource Group
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Investment Insights
Based on property information with market context.
Built in 1947, this three-story mixed-use property combines a street-level storefront with commercial and office areas, currently configured as a music studio. The upper floors contain an apartment and an additional guest bedroom, while full bathrooms are located on each level. A storage basement, security system, and two entrances add practical functionality. Most apartment appliances are included with the sale.
The property is situated in downtown Middletown near Main Street and Central Avenue. Commerce, a theater, restaurants, a coffee shop, and parks are all within walking distance, providing a variety of nearby downtown destinations.
The property is situated in downtown Middletown near Main Street and Central Avenue. Commerce, a theater, restaurants, a coffee shop, and parks are all within walking distance, providing a variety of nearby downtown destinations.
Key Highlights
- Three‑story mixed‑use building with office, storefront, and residential components
- Street‑level commercial area currently configured as a music studio
- Upper floors include an apartment and an additional guest bedroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,088
Cap Rate
8.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$721,760
$721.8K
Cap Rate 7%
$515,543
$515.5K
Cap Rate 9%
$400,978
$401.0K
Market Conditions
NOI Build-Up for 8,500 SF
Gross rent
$55.1K $6.48/SF
− Vacancy
−$3.5K −$0.41/SF
EGI
$51.6K $6.07/SF
− OpEx
−$15.5K −$1.82/SF
NOI
$36.1K $4.25/SF
Area
Butler County, OH
Vacancy
6.40%
Lease Rate
$6.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$721,760
Cap Rate 7%
$515,543
Cap Rate 9%
$400,978
Alternative Uses
Best Use
Office B
$1.38M
$1.21M – $1.61M
NOI $96,803 @ 7.0% cap · market cap 23.10%
Second Best
Retail
$515.5K
$451.1K – $601.5K
NOI $36,088 @ 7.0% cap · market cap 8.61%
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,644 @ 7.0% cap · market cap 28.08%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
605
Businesses Nearby
Explore this area
Business Placement
Demographics for 45044, OH
56,128
Population
21,645
Households
2.6
Avg Household Size
36
Median Age
30%
College-Educated
88%
High-School Grad
37.8 sq mi
ZIP Area
1,485
Density / Sq Mi
$71,942
Median Household Income
$40,568
Median Earnings
$1,034
Median Rent
$230,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Renovated commercial and residential property combines a street-level storefront with office space and an upper-floor apartment.
Where is this mixed-use property located?
The property is located at 1011 Central Avenue Middletown, OH.
What is the asking price?
The asking price for this property is $419,000.
What are key features of this property?
This property features: Three‑story mixed‑use building with office, storefront, and residential components; Street‑level commercial area currently configured as a music studio; Upper floors include an apartment and an additional guest bedroom
