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: Sep 2 Last Checked: Sep 23 at 11:06AM

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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 5,092-square-foot mixed-use building combines a convenience store and laundromat on the first floor with three occupied apartments on the second floor. The configuration places commercial activity and residential units within one two-level property, creating distinct operating areas across the building. Construction includes block and brick, with natural gas heating and a shingle roof.

Built in 1920, the property occupies 0.2609 acres at 30 Seven Mile Avenue in New Miami, Ohio. The second-floor apartments are occupied, while the ground level contains the convenience and laundry operations. The combination of retail, service, and residential space provides a varied property profile within Butler County.

Key Highlights

• 5,092 SF mixed‑use building
• Convenience store and laundromat on the first floor
• 3 occupied apartments on the second floor

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

5.36%

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 5.36%

Second Best

Apartment 5plus

$652.8K

$571.2K – $761.6K (±1% cap)

NOI $45,697 @ 7.0% cap · market cap 4.57%

Theoretical Best

Office A

$1.01M

$880.9K – $1.17M (±1% cap)

NOI $70,475 @ 7.0% cap · market cap 7.04%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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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.

Lease Details

3

Residential units

Multi-tenant

Tenancy

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 Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 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?

Frequently Asked Questions

What type of property is this?

Mixed-use property - First-floor commercial uses are paired with three occupied apartments above.

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 $1,000,500.

What are key features of this property?

This property features: 5,092 SF mixed‑use building; Convenience store and laundromat on the first floor; 3 occupied apartments on the second floor