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Renovated Mixed-Use Property with Retail

1044 Central Avenue, Middletown, OH 45044

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For Sale

$550,000

Recently renovated mixed-use building featuring apartments and retail space.

Property size:

5,000 SF

Price / SF:

$110/SF

HighLights

Renovated mixed‑use property with retail space and two modern 2‑bedroom apartments.
New roof (40‑year TPO), windows, systems, and appliances in each unit.
Each apartment features 1200 sqft, 2 bedrooms, 1.5 bathrooms, and 12ft high ceilings.
New CCTV system and access control for enhanced security.
Originally built in 1845, offering historical character.
Updated awnings and oversized exterior lighting.

We can help!

Listing Contact

Kelly A Meyer

For Sale

$550,000

Recently renovated mixed-use building featuring apartments and retail space.

Property size:

5,000 SF

Price / SF:

$110/SF

Added:: Jul 1, 2025
Days on Market:: 348
Last Refresh:: Jan 11 at 1:16 pm

Property Features for 1044 Central Avenue

General Information

Standard status: Active
Size: 5,000 SF

We can help!

Listing Contact

Kelly A Meyer

Listing agent Kelly A Meyer License #2015001119

Listing office Drake & Madison LLC

Listing date Jul 1, 2025

Source Exprealty

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 Drake & Madison LLC

HighLights

Renovated mixed‑use property with retail space and two modern 2‑bedroom apartments.
New roof (40‑year TPO), windows, systems, and appliances in each unit.
Each apartment features 1200 sqft, 2 bedrooms, 1.5 bathrooms, and 12ft high ceilings.
New CCTV system and access control for enhanced security.
Originally built in 1845, offering historical character.
Updated awnings and oversized exterior lighting.

Overview

This renovated mixed-use property, originally built in 1845, features a 5,000 sqft two-story building. It hosts two apartments and one retail space. Each apartment includes two bedrooms and 1.5 bathrooms within a 1200 sqft layout, featuring exposed 12ft high ceilings and modern finishes. The property benefits from a new roof with white TPO and insulation, designed to last 40 years, as well as new windows and systems in each unit. New appliances and gas stoves are installed, along with a new CCTV system and access control. The property also features oversized exterior lighting and new and updated awnings. A unique mural by artist Joshua Stout enhances the property's appeal. The retail space is also available for lease.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$88.2k	$17.64
− Vacancy	−$6.6k	−$1.32
EGI	$81.6k	$16.32
− OpEx	−$36.7k	−$7.34
NOI	$44.9k	$8.97

5,000 SF · lease $17.64/SF/yr · vacancy 7.50% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$641.0K

$560.9K – $747.9K (±1% cap)

NOI $44,872 @ 7.0% cap · market cap 8.16%

Second Best

Retail

$303.3K

$265.4K – $353.8K (±1% cap)

NOI $21,228 @ 7.0% cap · market cap 3.86%

Theoretical Best

Office A

$988.6K

$865.0K – $1.15M (±1% cap)

NOI $69,202 @ 7.0% cap · market cap 12.58%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Retail space

Suggested Use

Location Insight

Map
Local Demand

City: Middletown
County: Butler
State: Ohio
Longitude: -84.40397
Latitude: 39.51628

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For sale
Mixed-use properties
OH
Middletown
45044
1044 Central Avenue

What type of property is this?

Mixed-use property - Recently renovated mixed-use building featuring apartments and retail space.

Where is this mixed-use property located?

The property is located at 1044 Central Avenue Middletown, OH.

What is the asking price?

The asking price for this property is $550,000.

What are key features of this property?

This property features: Renovated mixed‑use property with retail space and two modern 2‑bedroom apartments.; New roof (40‑year TPO), windows, systems, and appliances in each unit.; Each apartment features **1200 sqft**, **2 bedrooms**, **1.5 bathrooms**, and **12ft high ceilings**.