Mixed-Use Property with Office
For Sale
$475,000
1030 Main Street, Milford, OH 45150
Commercial Sale, Milford, OH
Property Size4,400 SF
Lot Size0.53 Acres
Price / SF$107.95
Days on Market238
Property Features for 1030 Main Street
General Information
Property type
Residential
Property subtype
Office
Directions
275 to 28
Subdivision
Clermont-C02
Standard status
Active
APN
210723.095P
Lot size
0.53 Acres
Utilities
Heating system
Forced Air
Amenities
signage opportunity
Building Details
Flooring type
Wood, Carpet
Building materials
Wood Siding
Roof type
Shingle
Listing Agency:
Keller Williams Advisors · Keller Williams Realty
(513) 766-9200
Listed By:
Jerry Garrison · License #433588
(513) 766-9200
Added: Dec 26, 2025
Changed: Aug 19
Last Checked: Aug 21 at 9:06AM
MLS# 1864662
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 mixed-use property includes a leased office component, a two-bedroom apartment, and a lower-level flex area with a half bath. The office is occupied by an insurance company on a month-to-month arrangement, while the apartment is also leased month to month. The residential space could remain an apartment or be adapted for additional office use.
The property includes 20 parking spaces and frontage along State Route 28, providing an opportunity for on-site signage. Average daily traffic is reported at 9,000+ vehicles, and access to I-275 is approximately 0.5 mile away. Building features include wood siding, carpet and wood flooring, forced-air heating, and a shingle roof.
The property includes 20 parking spaces and frontage along State Route 28, providing an opportunity for on-site signage. Average daily traffic is reported at 9,000+ vehicles, and access to I-275 is approximately 0.5 mile away. Building features include wood siding, carpet and wood flooring, forced-air heating, and a shingle roof.
Key Highlights
- Mixed‑use configuration with office, apartment, and lower‑level flex space
- 20 parking spaces included
- Frontage along State Route 28 with signage opportunity
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
$41,414
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
8.72%
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%
$828,280
$828.3K
Cap Rate 7%
$591,629
$591.6K
Cap Rate 9%
$460,156
$460.2K
Market Conditions
NOI Build-Up for 4,400 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
$73.9K $16.80/SF
− Vacancy
−$18.7K −$4.25/SF
EGI
$55.2K $12.55/SF
− OpEx
−$13.8K −$3.14/SF
NOI
$41.4K $9.41/SF
Area
Clermont County, OH
Vacancy
25.30%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
25.00%
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%
$828,280
Cap Rate 7%
$591,629
Cap Rate 9%
$460,156
Alternative Uses
Best Use
Office B
$591.6K
$517.7K – $690.2K
NOI $41,414 @ 7.0% cap · market cap 8.72%
Second Best
Mixed Use
$542.1K
$474.4K – $632.5K
NOI $37,950 @ 7.0% cap · market cap 7.99%
Theoretical Best
Office A
$788.8K
$690.2K – $920.3K
NOI $55,218 @ 7.0% cap · market cap 11.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Office units
9,000 VPD
Traffic count
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
575
Businesses Nearby
Explore this area
Business Placement
Demographics for 45150, OH
33,735
Population
14,432
Households
2.3
Avg Household Size
42
Median Age
41%
College-Educated
95%
High-School Grad
32.3 sq mi
ZIP Area
1,044
Density / Sq Mi
$91,780
Median Household Income
$51,494
Median Earnings
$1,033
Median Rent
$267,900
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Well-maintained commercial property combining leased office, residential, and flexible lower-level space.
Where is this mixed-use property located?
The property is located at 1030 Main Street Milford, OH.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Mixed‑use configuration with office, apartment, and lower‑level flex space; 20 parking spaces included; Frontage along State Route 28 with signage opportunity
