Automotive Garage with Paved
For Sale
$174,900
Pending
1822 Tytus Ave, Middletown, OH 45042
Automotive garage on a high-visibility corner lot with overhead doors, reception space, restrooms, and paved area for operations.
Property Size1,244 SF
Days on Market110
Property Features for 1822 Tytus Ave
General Information
Standard status
Pending
Size
1,244 SF
Zoning
B-1
Additional Details
Service Bays
2
Taxes and HOA fees
Annual Taxes
$2,056
Listing Agency:
eXp Realty
(513) 265-2789
Listed By:
Gregory E. Christian
(513) 265-2789
Source:
Exprealty
Added: May 4
Changed: Aug 20
Last Checked: Aug 21 at 9:15AM
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 eXp Realty
Investment Insights
Based on property information with market context.
This automotive garage is set up for practical day-to-day operations, featuring two overhead bay doors, a dedicated reception area, and restrooms. The property also includes a spacious paved lot that can support customer parking and equipment or other operational needs.
Located on a high-visibility corner lot, the site is designed for commercial presence and straightforward access for visitors and service activity. The offering is a zoned B-1 property, supporting flexible commercial use.
For buyers seeking an automotive-oriented facility, the combination of garage bay access, front-office reception space, and on-site paved area supports a range of service and light commercial uses consistent with B-1 zoning. The paved lot provides room for staging, parking, or workflow needs without requiring additional off-site land.
Located on a high-visibility corner lot, the site is designed for commercial presence and straightforward access for visitors and service activity. The offering is a zoned B-1 property, supporting flexible commercial use.
For buyers seeking an automotive-oriented facility, the combination of garage bay access, front-office reception space, and on-site paved area supports a range of service and light commercial uses consistent with B-1 zoning. The paved lot provides room for staging, parking, or workflow needs without requiring additional off-site land.
Key Highlights
- Automotive garage on a high‑visibility corner lot with a dedicated paved area for parking or operations
- Two overhead bay doors for vehicle access
- Includes a dedicated reception area
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
$7,825
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
4.47%
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%
$156,500
$156.5K
Cap Rate 7%
$111,786
$111.8K
Cap Rate 9%
$86,944
$86.9K
Market Conditions
NOI Build-Up for 1,244 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
$11.9K $9.60/SF
− Vacancy
−$764 −$0.61/SF
EGI
$11.2K $8.99/SF
− OpEx
−$3.4K −$2.70/SF
NOI
$7.8K $6.29/SF
Area
Butler County, OH
Vacancy
6.40%
Lease Rate
$9.60 /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%
$156,500
Cap Rate 7%
$111,786
Cap Rate 9%
$86,944
Alternative Uses
Best Use
Industrial
$111.8K
$97.8K – $130.4K
NOI $7,825 @ 7.0% cap · market cap 4.47%
Second Best
Retail
$75.5K
$66.0K – $88.0K
NOI $5,282 @ 7.0% cap · market cap 3.02%
Theoretical Best
Office A
$246.0K
$215.2K – $287.0K
NOI $17,217 @ 7.0% cap · market cap 9.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Service bays
Location Intelligence
Trade Area within ½ mile
8
Businesses Nearby
Explore this area
Business Placement
Demographics for 45042, OH
26,972
Population
12,324
Households
2.2
Avg Household Size
42
Median Age
20%
College-Educated
91%
High-School Grad
49.2 sq mi
ZIP Area
548
Density / Sq Mi
$66,732
Median Household Income
$41,800
Median Earnings
$950
Median Rent
$192,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Robinson Engines & Fabrication — 6198 W Alexandria Rd, Middletown, OH 45042
Frequently Asked Questions
What type of property is this?
Auto shop - Automotive garage on a high-visibility corner lot with overhead doors, reception space, restrooms, and paved area for operations.
Where is this auto shop located?
The property is located at 1822 Tytus Ave Middletown, OH.
What is the asking price?
The asking price for this property is $174,900.
What are key features of this property?
This property features: Automotive garage on a high‑visibility corner lot with a dedicated paved area for parking or operations; Two overhead bay doors for vehicle access; Includes a dedicated reception area
