Flex Space with Drive-In
For Sale
$1,599,000
2456 Millville Oxford Rd, Hamilton, OH 45013
Adaptable commercial building combining showroom, warehouse, office, and retail functionality with on-site parking.
Property Size10,332 SF
Lot Size3.16 Acres
Price / SF$154.76
Days on Market8
Property Features for 2456 Millville Oxford Rd
General Information
Standard status
Active
Size
10,332 SF
Lot size
3.16 Acres
Warehouse & Industrial
Drive-In Doors
3
Cold Storage
Yes
Taxes and HOA fees
Annual Taxes
$7,157
Amenities
walk-in cooler
3 baths
drive-in doors
Building Details
Buildings
1
Stories
2
Listing Agency:
Bowling & Kugler Realty
(513) 646-3283
Listed By:
Robert Kugler · License #0000311652
(513) 646-3283
Source:
Exprealty
Added: Aug 24
Changed: Aug 31
Last Checked: Aug 31 at 9:16AM
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 Bowling & Kugler Realty
Investment Insights
Based on property information with market context.
This multipurpose flex property combines showroom and warehouse space with a practical range of existing improvements. The building includes three drive-in doors, a walk-in cooler, and three baths. An unfinished second-floor area provides office or storage capacity, while the overall layout can accommodate warehouse, retail, flex, or office use.
The property encompasses 3.16 acres at 2456 Millville Oxford Rd in Hamilton, Ohio. On-site parking and access serve the building, and the space can be divided to support different operational configurations.
The property encompasses 3.16 acres at 2456 Millville Oxford Rd in Hamilton, Ohio. On-site parking and access serve the building, and the space can be divided to support different operational configurations.
Key Highlights
- 3.16‑acre commercial property at 2456 Millville Oxford Rd, Hamilton, OH
- Showroom and warehouse building with 3 drive‑in doors
- Walk‑in cooler included
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
$78,913
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
4.94%
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%
$1,578,260
$1.6M
Cap Rate 7%
$1,127,329
$1.1M
Cap Rate 9%
$876,811
$876.8K
Market Conditions
NOI Build-Up for 10,332 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
$99.2K $9.60/SF
− Vacancy
−$6.3K −$0.61/SF
EGI
$92.8K $8.99/SF
− OpEx
−$13.9K −$1.35/SF
NOI
$78.9K $7.64/SF
Area
Butler County, OH
Vacancy
6.40%
Lease Rate
$9.60 /SF/Yr
Expense Ratio
15.00%
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%
$1,578,260
Cap Rate 7%
$1,127,329
Cap Rate 9%
$876,811
Alternative Uses
Best Use
Warehouse
$1.13M
$986.4K – $1.32M
NOI $78,913 @ 7.0% cap · market cap 4.94%
Second Best
Industrial
$928.4K
$812.3K – $1.08M
NOI $64,987 @ 7.0% cap · market cap 4.06%
Theoretical Best
Office A
$2.04M
$1.79M – $2.38M
NOI $142,999 @ 7.0% cap · market cap 8.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Drive-in doors
Location Intelligence
Trade Area within ½ mile
49
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 45013, OH
53,911
Population
21,734
Households
2.5
Avg Household Size
41
Median Age
23%
College-Educated
92%
High-School Grad
117.7 sq mi
ZIP Area
458
Density / Sq Mi
$72,932
Median Household Income
$40,730
Median Earnings
$967
Median Rent
$217,200
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Adaptable commercial building combining showroom, warehouse, office, and retail functionality with on-site parking.
Where is this flex space located?
The property is located at 2456 Millville Oxford Rd Hamilton, OH.
What is the asking price?
The asking price for this property is $1,599,000.
What are key features of this property?
This property features: 3.16‑acre commercial property at 2456 Millville Oxford Rd, Hamilton, OH; Showroom and warehouse building with 3 drive‑in doors; Walk‑in cooler included
