Mixed-Use Building with Separate
For Sale
$159,000
2003 Central Avenue, Middletown, OH 45044
Office space includes meeting rooms, private offices, a kitchenette, and a dedicated parking lot.
Property Size3,548 SF
Price / SF$44.81
Days on Market221
Property Features for 2003 Central Avenue
General Information
Standard status
Active
Size
3,548 SF
Property subtype
Commercial
Additional Details
Property Use
Office
Amenities
conference rooms
private offices
work rooms
receptionist area
bathrooms
kitchenette
Building Details
Building Size
3,548 SF
Year Built
1909
Buildings
1
Listing Agency:
Keller Williams Advisors Rlty
(937) 848-6255
Listed By:
Maria L. Taylor
(937) 609-2421
Source:
Galbraithrealtors
Added: Mar 17
Changed: Oct 23
Last Checked: Oct 23 at 3:39PM
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 Keller Williams Advisors Rlty
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Investment Insights
Based on property information with market context.
This 3,548-square-foot mixed-use property combines professional office space with a second-floor residence that has its own entrance. The office occupies approximately 2,680 square feet, including 1,812 square feet on the main level and a finished 868-square-foot lower level. Its layout includes two conference rooms, private offices, work rooms, a reception area, two bathrooms, and a kitchenette.
A private parking lot is located behind the building. Constructed in 1909, the property offers a separate residential component that may be used as a residence, rental space, or additional office space.
A private parking lot is located behind the building. Constructed in 1909, the property offers a separate residential component that may be used as a residence, rental space, or additional office space.
Key Highlights
- 3,548‑square‑foot mixed‑use property built in 1909
- Office area totals approximately 2,680 square feet across the main and finished lower levels
- Main‑level office space measures 1,812 SF; finished lower level measures 868 SF
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.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
581
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Office space includes meeting rooms, private offices, a kitchenette, and a dedicated parking lot.
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 property built in 1909; Office area totals approximately 2,680 square feet across the main and finished lower levels; Main‑level office space measures 1,812 SF; finished lower level measures 868 SF
