Listing Agency: Coldwell Banker Heritage m***@cbishome.com Show Phone

Listed By: Stefan Wannemacher · License #2007001235 Show Phone

Source: Exprealty

Added: Jun 3 Changed: Oct 6 Last Checked: Oct 16 at 9:21AM

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Investment Insights

Based on property information with market context.

This almost half-acre automotive property is currently used as an automotive garage and sales operation. It has a lift included, and underground storage tanks were removed and closed in 2000. A conditional use has been approved for automotive sales, and the site is zoned B-2, supporting flexibility for a range of commercial uses consistent with the zoning.

The property is located at a busy east-end intersection in Franklin, Ohio, with 2024 ODOT data reporting an AADT of 6,243.

For operators seeking an automotive-focused site, the approved automotive sales conditional use and existing garage/sales configuration can reduce early redevelopment and permitting hurdles. The B-2 zoning also offers additional room for compatible commercial concepts, while the intersection location supports visibility for both passing traffic and customer access. Seller financing is available to qualified buyers.

Key Highlights

• Almost 0.5‑acre property at a busy east‑end Middletown/Franklin intersection
• Conditional use approved for automotive sales; currently used as an automotive garage and sales
• Zoned B‑2 with many potential uses

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$12,548

Cap Rate

3.14%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$250,960 $251.0K

Cap Rate 7%

$179,257 $179.3K

Cap Rate 9%

$139,422 $139.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,285 SF

Gross rent

$19.3K $15.00/SF

− Vacancy

−$1.3K −$1.05/SF

EGI

$17.9K $13.95/SF

− OpEx

−$5.4K −$4.19/SF

NOI

$12.5K $9.76/SF

Area

Warren County, OH

Vacancy

7.00%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$250,960

Cap Rate 7%

$179,257

Cap Rate 9%

$139,422

Alternative Uses

Best Use

Retail

$179.3K

$156.9K – $209.1K (±1% cap)

NOI $12,548 @ 7.0% cap · market cap 3.14%

Second Best

Industrial

$75.4K

$66.0K – $88.0K (±1% cap)

NOI $5,280 @ 7.0% cap · market cap 1.32%

Theoretical Best

Office A

$287.0K

$251.2K – $334.9K (±1% cap)

NOI $20,092 @ 7.0% cap · market cap 5.04%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Auto shops

Suggested Use

Top Pick Auto Repair Shop Electrical Service Law Firm Grocery & Convenience Store Kitchen & Bath Showroom Storage Facility

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

6,243 VPD

Traffic count

Location Intelligence

Trade Area within ½ mile

124

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 45005, OH

31,577

Population

13,458

Households

2.3

Avg Household Size

42

Median Age

18%

College-Educated

90%

High-School Grad

36.6 sq mi

ZIP Area

863

Density / Sq Mi

$74,239

Median Household Income

$44,082

Median Earnings

$1,005

Median Rent

$201,200

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

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Frequently Asked Questions

What type of property is this?

Auto shop - B-2 zoned automotive property with lift and approved automotive sales use at a high-AADT intersection.

Where is this auto shop located?

The property is located at 4500 S Dixie Hwy Franklin, OH.

What is the asking price?

The asking price for this property is $399,000.

What are key features of this property?

This property features: Almost 0.5‑acre property at a busy east‑end Middletown/Franklin intersection; Conditional use approved for automotive sales; currently used as an automotive garage and sales; Zoned B‑2 with many potential uses