Building Details

Year built 1920

Number of units 5

Building materials Block, Brick

Roof type Shingle

Listing Agency: ERA REAL Solutions Realty. LLC · ERA Real Estate j***@era.com Show Phone

Listed By: Melvin Hart Show Phone

Added: May 16 Changed: Aug 19 Last Checked: Aug 22 at 2:06AM

Report an Issue

MLS# 1879608

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.

Investment Insights

Based on property information with market context.

This mixed-use property presents an investment opportunity, featuring a convenience store and a newly added laundromat on the first floor. The second floor includes three occupied apartments, providing rental income. The property is a turn-key operation with multiple income streams. The lot size is 0.2609 acres and the property size is 5092 square feet. The property is located in New Miami, OH.

Key Highlights

• Multiple income streams from a convenience store, laundromat, and 3 apartments.
• Strong cash flow and profitable, turn‑key operation.
• Three spacious, occupied apartments providing steady rental income.

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

$53,619

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%

$1,072,380 $1.1M

Cap Rate 7%

$765,986 $766.0K

Cap Rate 9%

$595,767 $595.8K

Market Conditions

NOI Build-Up for 5,092 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

$76.4K $15.00/SF

− Vacancy

−$4.9K −$0.96/SF

EGI

$71.5K $14.04/SF

− OpEx

−$17.9K −$3.51/SF

NOI

$53.6K $10.53/SF

Area

Butler County, OH

Vacancy

6.40%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

25.00%

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%

$1,072,380

Cap Rate 7%

$765,986

Cap Rate 9%

$595,767

Alternative Uses

Best Use

Specialty Retail

$766.0K

$670.2K – $893.7K (±1% cap)

NOI $53,619 @ 7.0% cap · market cap 4.47%

Second Best

Retail

$308.8K

$270.2K – $360.3K (±1% cap)

NOI $21,619 @ 7.0% cap · market cap 1.80%

Theoretical Best

Office A

$1.01M

$880.9K – $1.17M (±1% cap)

NOI $70,475 @ 7.0% cap · market cap 5.87%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

New Miami Party ... Grocery & Convenience Store ATM Atm

Suggested Use

Top Pick Restaurant Building Supply Hair Salon Electrical Service Big Box & Wholesale Store Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

95

Businesses Nearby

Explore this area Business Placement

Demographics for 45011, OH

73,596

Population

28,470

Households

2.6

Avg Household Size

38

Median Age

31%

College-Educated

88%

High-School Grad

60.4 sq mi

ZIP Area

1,218

Density / Sq Mi

$90,360

Median Household Income

$45,147

Median Earnings

$1,005

Median Rent

$272,000

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties ... What are key features of this property?

Ask Rey about this property ...

Frequently Asked Questions

What type of property is this?

Mixed-use property - Profitable convenience store, laundromat, and apartments for sale.

Where is this mixed-use property located?

The property is located at 30 Seven Mile Avenue New Miami, OH.

What is the asking price?

The asking price for this property is $1,200,000.

What are key features of this property?

This property features: Multiple income streams from a convenience store, laundromat, and 3 apartments.; Strong cash flow and profitable, turn‑key operation.; Three spacious, occupied apartments providing steady rental income.