Storefront with Salon
New
For Sale
Contact for pricing
26 S Miller St., Cedarville, OH 45314
Open-concept commercial space with perimeter rooms, a kitchenette, restroom facilities, and existing plumbing infrastructure.
Property Size1,509 SF
Price / SF$115.97
Days on Market6
Property Features for 26 S Miller St.
General Information
Standard status
Active
Size
1,509 SF
Property subtype
Retail, Office
Zoning
Village Business District
Investment Type
Owner/User
Building Details
Year Built
2005
Units
1
Listing Agency:
Howard Hanna Real Estate Services
Listed By:
Rodney Gibbs · License #2020008978
Source:
Crexi
Added: Aug 27
Changed: Aug 31
Last Checked: Aug 31 at 9:18AM
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 Howard Hanna Real Estate Services
Investment Insights
Based on property information with market context.
This approximately 1,509 sq. ft. storefront is configured as a full-service beauty salon within Cedarville Crossings. The open interior includes multiple perimeter rooms designated for storage, mechanical systems, restroom facilities, and a kitchenette. Salon equipment may remain for a turnkey operation or be removed for a different business concept. Existing plumbing infrastructure also supports a potential return to laundromat use or another plumbing-intensive operation. The HVAC system was replaced in 2019.
The property is located at 26 S. Miller St. in Cedarville, Ohio, and carries Village Business District zoning. Built in 2005, the space provides an owner-user or investor with an established commercial buildout and adaptable interior configuration.
The property is located at 26 S. Miller St. in Cedarville, Ohio, and carries Village Business District zoning. Built in 2005, the space provides an owner-user or investor with an established commercial buildout and adaptable interior configuration.
Key Highlights
- Approximately 1,509 sq. ft. storefront within Cedarville Crossings
- Currently configured as a full‑service beauty salon
- Salon equipment can remain or be removed for a different business concept
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
$14,237
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
8.14%
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%
$284,740
$284.7K
Cap Rate 7%
$203,386
$203.4K
Cap Rate 9%
$158,189
$158.2K
Market Conditions
NOI Build-Up for 1,509 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
$21.7K $14.40/SF
− Vacancy
−$1.4K −$0.92/SF
EGI
$20.3K $13.48/SF
− OpEx
−$6.1K −$4.04/SF
NOI
$14.2K $9.43/SF
Area
Greene County, OH
Vacancy
6.40%
Lease Rate
$14.40 /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%
$284,740
Cap Rate 7%
$203,386
Cap Rate 9%
$158,189
Alternative Uses
Best Use
Retail
$203.4K
$178.0K – $237.3K
NOI $14,237 @ 7.0% cap · market cap 8.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office B
$283.7K
$248.3K – $331.0K
NOI $19,861 @ 7.0% cap · market cap 11.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
212
Businesses Nearby
3k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 69%
Shops & Services 31%
SUBWAY
Dining
1,994 visits/mo
0.2 miles
U.S. Bank
Shops & Services
903 visits/mo
0.1 miles
Demographics for 45314, OH
6,261
Population
1,460
Households
4.3
Avg Household Size
25
Median Age
47%
College-Educated
96%
High-School Grad
51.4 sq mi
ZIP Area
122
Density / Sq Mi
$87,366
Median Household Income
$10,056
Median Earnings
$829
Median Rent
$276,900
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Open-concept commercial space with perimeter rooms, a kitchenette, restroom facilities, and existing plumbing infrastructure.
Where is this storefront property located?
The property is located at 26 S Miller St. Cedarville, OH.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Approximately 1,509 sq. ft. storefront within Cedarville Crossings; Currently configured as a full‑service beauty salon; Salon equipment can remain or be removed for a different business concept
