Storefront Property with Rental
New
For Sale
Contact for pricing
1077 Millville Avenue, Hamilton, OH 45013
The 2,258-square-foot building was constructed in 1931 and can support business or rental use.
Property Size2,258 SF
Price / SF$77.50
Days on Market5
Property Features for 1077 Millville Avenue
General Information
Standard status
Active
Size
2,258 SF
Property subtype
Retail, Office, Special Purpose
Property Condition
Severity
Repairs Needed
Evidence
Needs work
Building Details
Year Built
1931
Buildings
1
Listing Agency:
Coldwell Banker Realty - Rick Louallen
(513) 237-1824
Listed By:
Rick Louallen Sr. · License #OH 0000365995
Source:
Crexi
Added: Aug 27
Changed: Aug 31
Last Checked: Aug 31 at 8:51AM
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 Coldwell Banker Realty - Rick Louallen
Investment Insights
Based on property information with market context.
Located at 1077 Millville Avenue in Hamilton, Ohio, this 2,258-square-foot storefront property dates to 1931. The building requires work and offers a commercial structure suited to an owner-operated business or rental property, as stated in the available property information.
The property may be packaged with the neighboring building and lots at 1069-1075 Millville Avenue, creating an option to acquire a broader assemblage along the same avenue.
The property may be packaged with the neighboring building and lots at 1069-1075 Millville Avenue, creating an option to acquire a broader assemblage along the same avenue.
Key Highlights
- 2,258‑square‑foot storefront property
- Built in 1931
- Located at 1077 Millville Avenue, Hamilton, OH 45013
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
$9,587
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
5.48%
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%
$191,740
$191.7K
Cap Rate 7%
$136,957
$137.0K
Cap Rate 9%
$106,522
$106.5K
Market Conditions
NOI Build-Up for 2,258 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
$14.6K $6.48/SF
− Vacancy
−$936 −$0.41/SF
EGI
$13.7K $6.07/SF
− OpEx
−$4.1K −$1.82/SF
NOI
$9.6K $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 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%
$191,740
Cap Rate 7%
$136,957
Cap Rate 9%
$106,522
Alternative Uses
Best Use
Office B
$367.4K
$321.4K – $428.6K
NOI $25,715 @ 7.0% cap · market cap 14.69%
Second Best
Retail
$137.0K
$119.8K – $159.8K
NOI $9,587 @ 7.0% cap · market cap 5.48%
Theoretical Best
Office A
$446.5K
$390.7K – $520.9K
NOI $31,252 @ 7.0% cap · market cap 17.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
99
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 45013, OH
53,911
Population
21,734
Households
2.5
Avg Household Size
41
Median Age
23%
College-Educated
92%
High-School Grad
117.7 sq mi
ZIP Area
458
Density / Sq Mi
$72,932
Median Household Income
$40,730
Median Earnings
$967
Median Rent
$217,200
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - The 2,258-square-foot building was constructed in 1931 and can support business or rental use.
Where is this storefront property located?
The property is located at 1077 Millville Avenue Hamilton, OH.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: 2,258‑square‑foot storefront property; Built in 1931; Located at 1077 Millville Avenue, Hamilton, OH 45013
