Historic Brick Apartment Building with
127 Miami Street Urbana, OH 43078
For Sale
$610,000
MULTI_FAMILY - Urbana, OH
Property Size7,954 SF
Lot Size0.14 Acres
Price / SF$76.69
Days on Market189
Property Features for 127 Miami Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Commercial,Historic,Multi
- Bedrooms
- 5
- Bathrooms
- 7
- Rooms
- Bedroom 3, Bedroom 1, Bedroom 5, Bathroom 1, Bathroom 3, Bathroom 2, Bathroom 4, Bedroom 4, Basement, Bathroom 5, Bathroom 7, Bathroom 6, Bedroom 2
- Parking features
- On Street, Garage
- Patio and Porch features
- Patio
- Exterior features
- Patio
- Appliances
- Dryer, Range, Refrigerator, Washer
- Standard status
- Active
- APN
- K482500011602700
- Size
- 7,954 SF
- Lot size
- 0.14 Acres
Taxes and HOA fees
- Tax Description
- RTS 00-00-00 ORIGINAL PLAT NW PT LOT 50
Utilities
- Cooling system
- Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1900
- Floors in Building
- 2
- Number of units
- 6
- Building materials
- Brick, Block
Listing Agency:
Keller Williams Home Town Rlty
(937) 890-9111
Listed By:
Kristann Wages
(937) 499-0390
Added: Jan 19
Changed: Jul 24
Last Checked: Jul 27 at 9:06AM
MLS# 950919
Copyright © 2026 Dayton Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1833, the Dr. Adam Mosgrove House at 127 Miami Street is a nationally recognized historic landmark on the National Register of Historic Places. This Federal-style brick, two-and-a-half-story building includes five one-bedroom apartments and shared laundry located on the main level. There is also an unfinished top-floor unit that could provide additional living space, along with an additional vacant lot on the property. A walk-out lower-level commercial unit addressed as 109 W Walnut Street is included as part of the overall offering.
The commercial unit is currently occupied by a plumbing business that has operated at the location for 72 years. The property is described as being in the heart of Downtown Urbana. Zoning is identified as B-3 in the listing remarks.
For a buyer looking to own a mixed-use, historic property, the combination of apartment units and an operating commercial tenant can support a straightforward live-and-operate or income-oriented setup. The presence of an unfinished top-floor apartment and an additional vacant lot may also appeal to owners interested in future space planning, subject to applicable approvals and use requirements.
The commercial unit is currently occupied by a plumbing business that has operated at the location for 72 years. The property is described as being in the heart of Downtown Urbana. Zoning is identified as B-3 in the listing remarks.
For a buyer looking to own a mixed-use, historic property, the combination of apartment units and an operating commercial tenant can support a straightforward live-and-operate or income-oriented setup. The presence of an unfinished top-floor apartment and an additional vacant lot may also appeal to owners interested in future space planning, subject to applicable approvals and use requirements.
Key Highlights
- Downtown Urbana historic property: Dr. Adam Mosgrove House at 127 Miami Street built in 1833 and listed on the National Register of Historic Places
- Zoned B‑3, Federal‑style brick two‑and‑a‑half‑story apartment building
- Five one‑bedroom apartments with shared main‑level laundry for tenants
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $46.5k | $5.85 |
| − Vacancy | −$4.0k | −$0.50 |
| EGI | $42.5k | $5.35 |
| − OpEx | −$19.1k | −$2.41 |
| NOI | $23.4k | $2.94 |
7,954 SF · lease $5.85/SF/yr · vacancy 8.60% · expense 45.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Federal-style brick building with five 1-bedroom apartments, shared laundry, and a long-tenured lower-level commercial unit.
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: Downtown Urbana historic property: Dr. Adam Mosgrove House at 127 Miami Street built in 1833 and listed on the National Register of Historic Places; Zoned B‑3, Federal‑style brick two‑and‑a‑half‑story apartment building; Five one‑bedroom apartments with shared main‑level laundry for tenants
