Historic Apartment Building with Commercial
127 Miami Street, Urbana, OH 43078
For Sale
$610,000
Multi-Family, Urbana, OH
Property Size7,954 SF
Price / SF$76.69
Days on Market293
Property Features for 127 Miami Street
General Information
Property type
Property subtype
Zoning description
Bedrooms
Bathrooms
Full bathrooms
Half bathrooms
Rooms
Parking features
Patio and Porch features
Fireplace
Basement
Appliances
Elementary school district
Middle school district
High school district
Directions
Subdivision
Standard status
APN
Size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Year
Utilities
Sewer type
Heating system
Cooling system
Amenities
shared main-level laundry
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Architectural style
Buildings
Listing Agency:
Keller Williams Home Town Realty · Keller Williams Realty
Listed By:
Kristann Wages · License #2016005155
(937) 890-9111
Added: Jan 21
Changed: Oct 24
Last Checked: Nov 9 at 4:06AM
MLS# 1043434
Copyright © 2026 Western Regional Information System & Technology, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 7,954-square-foot Federal-style brick building is arranged as a two-and-a-half-story apartment property with five one-bedroom residences. Tenants share main-level laundry, while an unfinished top-floor unit provides additional interior space. The property also includes a vacant lot and a walk-out lower level configured as a commercial unit.
The commercial space is occupied by a plumbing business that has operated at the location for 72 years. The building is zoned B-3 and includes a patio, fireplace, public sewer service, natural-gas heating, window-unit cooling, and a combination of carpet, vinyl, and wood flooring. The property is identified as the Dr. Adam Mosgrove House, a Federal-style landmark listed on the National Register of Historic Places.
The commercial space is occupied by a plumbing business that has operated at the location for 72 years. The building is zoned B-3 and includes a patio, fireplace, public sewer service, natural-gas heating, window-unit cooling, and a combination of carpet, vinyl, and wood flooring. The property is identified as the Dr. Adam Mosgrove House, a Federal-style landmark listed on the National Register of Historic Places.
Key Highlights
- Five one‑bedroom apartments within a 7,954‑square‑foot building
- Walk‑out lower‑level commercial unit occupied by a plumbing business operating there for 72 years
- Unfinished top‑floor unit and additional vacant lot included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,626
Cap Rate
4.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$532,520
$532.5K
Cap Rate 7%
$380,371
$380.4K
Cap Rate 9%
$295,844
$295.8K
Market Conditions
NOI Build-Up for 7,954 SF
Gross rent
$46.6K $5.86/SF
− Vacancy
−$4.0K −$0.50/SF
EGI
$42.6K $5.36/SF
− OpEx
−$16.0K −$2.01/SF
NOI
$26.6K $3.35/SF
Area
Champaign County, OH
Vacancy
8.60%
Lease Rate
$5.86 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$532,520
Cap Rate 7%
$380,371
Cap Rate 9%
$295,844
Alternative Uses
Best Use
Mixed Use
$380.4K
$332.8K – $443.8K
NOI $26,626 @ 7.0% cap · market cap 4.36%
Second Best
Apartment 5plus
$334.2K
$292.4K – $389.9K
NOI $23,391 @ 7.0% cap · market cap 3.83%
Theoretical Best
Specialty Retail
$2.22M
$1.94M – $2.59M
NOI $155,302 @ 7.0% cap · market cap 25.46%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
534
Businesses Nearby
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Business Placement
Demographics for 43078, OH
20,067
Population
8,904
Households
2.3
Avg Household Size
43
Median Age
22%
College-Educated
91%
High-School Grad
150.4 sq mi
ZIP Area
133
Density / Sq Mi
$72,500
Median Household Income
$40,854
Median Earnings
$909
Median Rent
$176,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Federal-style brick property combines apartments, shared laundry, and a lower-level commercial space.
Where is this apartment building located?
The property is located at 127 Miami Street Urbana, OH.
What is the asking price?
The asking price for this property is $610,000.
What are key features of this property?
This property features: Five one‑bedroom apartments within a 7,954‑square‑foot building; Walk‑out lower‑level commercial unit occupied by a plumbing business operating there for 72 years; Unfinished top‑floor unit and additional vacant lot included
