Mixed-Use Building with Office
For Sale
$159,000
2003 Central Avenue, Middletown, OH 45044
Commercial Sale, Middletown, OH
Property Size3,548 SF
Lot Size0.14 Acres
Price / SF$44.81
Days on Market221
Property Features for 2003 Central Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Directions
University Blvd/SR 122 to east on Central.
Subdivision
Butler-W19
Standard status
Active
APN
Q6532029000058
Size
3,548 SF
Lot size
0.14 Acres
Utilities
Heating system
Natural Gas, Forced Air
Building Details
Year built
1909
Building materials
Brick, Vinyl Siding
Roof type
Shingle, Membrane
Listing Agency:
Keller Williams Advisors Rlty · Keller Williams Realty
(937) 848-6255
Listed By:
Maria Taylor
(513) 766-9200
Added: Mar 17
Changed: Oct 16
Last Checked: Oct 23 at 5:06PM
MLS# 1871973
Copyright © 2026 MLS of Greater Cincinnati, 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 3,548-square-foot mixed-use building, constructed in 1909, combines professional office improvements with a separate second-floor residential area. The office component spans 2,680 square feet, including 1,812 SF on the main level and 868 SF in the finished lower level. Its layout includes two conference rooms, private offices, work rooms, a reception area, two bathrooms, and a kitchenette. The residential portion has its own entry and can serve as an owner-occupied residence, rental space, or additional office area, as supported by the existing configuration.
A private parking lot is located behind the building. Construction includes brick and vinyl siding, with forced-air heating fueled by natural gas. The roof consists of shingle and membrane systems, providing distinct building components for the mixed-use layout.
A private parking lot is located behind the building. Construction includes brick and vinyl siding, with forced-air heating fueled by natural gas. The roof consists of shingle and membrane systems, providing distinct building components for the mixed-use layout.
Key Highlights
- 3,548‑square‑foot mixed‑use building constructed in 1909
- Professional office area totals approximately 2,680 square feet
- Office layout includes two conference rooms, private offices, work rooms, reception area, two bathrooms, and kitchenette
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,918
Cap Rate
7.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$238,360
$238.4K
Cap Rate 7%
$170,257
$170.3K
Cap Rate 9%
$132,422
$132.4K
Market Conditions
NOI Build-Up for 3,548 SF
Gross rent
$20.9K $5.88/SF
− Vacancy
−$1.8K −$0.51/SF
EGI
$19.1K $5.37/SF
− OpEx
−$7.2K −$2.02/SF
NOI
$11.9K $3.36/SF
Area
Butler County, OH
Vacancy
8.60%
Lease Rate
$5.88 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$238,360
Cap Rate 7%
$170,257
Cap Rate 9%
$132,422
Alternative Uses
Best Use
Office B
$577.2K
$505.1K – $673.5K
NOI $40,407 @ 7.0% cap · market cap 25.41%
Second Best
Mixed Use
$170.3K
$149.0K – $198.6K
NOI $11,918 @ 7.0% cap · market cap 7.50%
Theoretical Best
Office A
$701.5K
$613.8K – $818.4K
NOI $49,106 @ 7.0% cap · market cap 30.88%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
581
Businesses Nearby
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Business Placement
Demographics for 45044, OH
56,128
Population
21,645
Households
2.6
Avg Household Size
36
Median Age
30%
College-Educated
88%
High-School Grad
37.8 sq mi
ZIP Area
1,485
Density / Sq Mi
$71,942
Median Household Income
$40,568
Median Earnings
$1,034
Median Rent
$230,400
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Brick mixed-use property combines a professional office layout with separately accessed second-floor residential space.
Where is this mixed-use property located?
The property is located at 2003 Central Avenue Middletown, OH.
What is the asking price?
The asking price for this property is $159,000.
What are key features of this property?
This property features: 3,548‑square‑foot mixed‑use building constructed in 1909; Professional office area totals approximately 2,680 square feet; Office layout includes two conference rooms, private offices, work rooms, reception area, two bathrooms, and kitchenette
