Historic Urbana Apartment Building For
For Sale
$610,000
127 Miami Street, Urbana, OH 43078
Nationally recognized historic landmark with five apartments and commercial space.
Property Size7,954 SF
Price / SF$76.69
Days on Market256
Property Features for 127 Miami Street
General Information
Standard status
Active
Size
7,954 SF
Property subtype
Multi-Family
Amenities
Fireplace
Hot Water
Natural Gas
Window Unit(s)
Steam
Dryer
Range
Refrigerator
Washer
Patio, Natural Gas Connected
Building Details
Building Size
7,954 SF
Year Built
1900
Listing Agency:
Home Town Realty, LLC
Listed By:
Kristann Wages · License #2016005155
(937) 499-0390
Source:
Kw
Added: Jan 22
Changed: Oct 4
Last Checked: Oct 4 at 7:20AM
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 Home Town Realty, LLC
Investment Insights
Based on property information with market context.
Located in downtown Urbana, the Dr. Adam Mosgrove House at 127 Miami Street is a nationally recognized historic landmark built in 1833 and listed on the National Register of Historic Places. The property is a Federal-style brick, two-and-a-half-story apartment building featuring five one-bedroom apartments. Tenant convenience is provided by a shared main-level laundry. There is an unfinished top-floor unit with expansion potential. The property includes an additional vacant lot with parcel # K48-25-00-01-16-028-00. The walk-out lower-level commercial unit, addressed as 109 W Walnut Street, is currently occupied by a plumbing business that has operated at this location for 72 years. The property is zoned B-3 and has a size of 7954 square feet.
Key Highlights
- Nationally recognized historic landmark (Dr. Adam Mosgrove House).
- Zoned B‑3, offering diverse usage possibilities.
- Includes a walk‑out lower‑level commercial unit at 109 W Walnut Street with a long‑term tenant.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,391
Cap Rate
3.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$467,820
$467.8K
Cap Rate 7%
$334,157
$334.2K
Cap Rate 9%
$259,900
$259.9K
Market Conditions
NOI Build-Up for 7,954 SF
Gross rent
$46.5K $5.85/SF
− Vacancy
−$4.0K −$0.50/SF
EGI
$42.5K $5.35/SF
− OpEx
−$19.1K −$2.41/SF
NOI
$23.4K $2.94/SF
Area
Champaign County, OH
Vacancy
8.60%
Lease Rate
$5.85 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$467,820
Cap Rate 7%
$334,157
Cap Rate 9%
$259,900
Alternative Uses
Best Use
Apartment 5plus
$334.2K
$292.4K – $389.9K
NOI $23,391 @ 7.0% cap · market cap 3.83%
Second Best
—
—
no second resolved use
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.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
534
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - Nationally recognized historic landmark with five apartments and 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: Nationally recognized historic landmark (Dr. Adam Mosgrove House).; Zoned B‑3, offering diverse usage possibilities.; Includes a walk‑out lower‑level commercial unit at 109 W Walnut Street with a long‑term tenant.
