Highly Visible Retail Office
For Sale
$375,000
10984 State Route 28, Blanchester, OH 45107
Versatile storefront and office space on a high-traffic State Route 28 corridor with exceptional road frontage.
Property Size1,204 SF
Price / SF$311.46
Days on Market84
Property Features for 10984 State Route 28
General Information
Standard status
Active
Size
1,204 SF
Taxes and HOA fees
Annual Taxes
$2,872
Listing Agency:
Plum Tree Realty
(513) 443-5060
Listed By:
Najwa Altai
(513) 417-1474
Source:
Exprealty
Added: Jun 17
Changed: Sep 4
Last Checked: Sep 8 at 10:59AM
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 Plum Tree Realty
Investment Insights
Based on property information with market context.
This highly visible commercial property offers a flexible layout suited for retail, office, or service use, with additional value as an investment. The site includes exceptional road frontage and is positioned for strong day-to-day visibility.
Located along the heavily traveled State Route 28 corridor in Harlan Township, the property provides easy access to surrounding communities. It benefits from consistent daily traffic and a prominent position within one of Warren County’s expanding commercial corridors.
The offering combines a versatile commercial interior with a generous site configuration designed to support a range of business and redevelopment possibilities.
Located along the heavily traveled State Route 28 corridor in Harlan Township, the property provides easy access to surrounding communities. It benefits from consistent daily traffic and a prominent position within one of Warren County’s expanding commercial corridors.
The offering combines a versatile commercial interior with a generous site configuration designed to support a range of business and redevelopment possibilities.
Key Highlights
- Versatile commercial property with storefront and office space on the State Route 28 corridor
- Located on a high‑traffic route with exceptional road frontage
- Suitable for multiple uses including retail, office, and service
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
$21,941
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
5.85%
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%
$438,820
$438.8K
Cap Rate 7%
$313,443
$313.4K
Cap Rate 9%
$243,789
$243.8K
Market Conditions
NOI Build-Up for 1,204 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
$32.5K $27.00/SF
− Vacancy
−$1.2K −$0.97/SF
EGI
$31.3K $26.03/SF
− OpEx
−$9.4K −$7.81/SF
NOI
$21.9K $18.22/SF
Area
Clinton County, OH
Vacancy
3.58%
Lease Rate
$27.00 /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%
$438,820
Cap Rate 7%
$313,443
Cap Rate 9%
$243,789
Alternative Uses
Best Use
Retail
$313.4K
$274.3K – $365.7K
NOI $21,941 @ 7.0% cap · market cap 5.85%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
63
Businesses Nearby
8k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 67%
Dining 33%
Dollar General
Shops & Services
5,660 visits/mo
0.1 miles
SUBWAY
Dining
2,740 visits/mo
0.4 miles
Demographics for 45107, OH
9,806
Population
3,656
Households
2.7
Avg Household Size
41
Median Age
12%
College-Educated
89%
High-School Grad
80.6 sq mi
ZIP Area
122
Density / Sq Mi
$65,625
Median Household Income
$33,915
Median Earnings
$918
Median Rent
$196,300
Median Home Value
Market
Vacancy Rate% for Retail 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?
Storefront property - Versatile storefront and office space on a high-traffic State Route 28 corridor with exceptional road frontage.
Where is this storefront property located?
The property is located at 10984 State Route 28 Blanchester, OH.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Versatile commercial property with storefront and office space on the State Route 28 corridor; Located on a high‑traffic route with exceptional road frontage; Suitable for multiple uses including retail, office, and service
