Automotive Garage with Sales
For Sale
$399,000
4500 S Dixie Hwy, Franklin, OH 45005
B-2 zoned automotive property with lift and approved automotive sales use at a high-AADT intersection.
Property Size1,285 SF
Lot Size0.50 Acres
Price / SF$310.51
Days on Market81
Property Features for 4500 S Dixie Hwy
General Information
Standard status
Active
Size
1,285 SF
Lot size
0.50 Acres
Zoning
B-2
Additional Details
Traffic Count
6,243 vehicles/day
Taxes and HOA fees
Annual Taxes
$3,585
Listing Agency:
Coldwell Banker Heritage
(513) 320-6669
Listed By:
Stefan Wannemacher · License #2007001235
(513) 320-6669
Source:
Exprealty
Added: Jun 3
Changed: Aug 20
Last Checked: Aug 21 at 12:23PM
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 Coldwell Banker Heritage
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.
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 = 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
$12,548
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
3.14%
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%
$250,960
$251.0K
Cap Rate 7%
$179,257
$179.3K
Cap Rate 9%
$139,422
$139.4K
Market Conditions
NOI Build-Up for 1,285 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
$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 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%
$250,960
Cap Rate 7%
$179,257
Cap Rate 9%
$139,422
Alternative Uses
Best Use
Retail
$179.3K
$156.9K – $209.1K
NOI $12,548 @ 7.0% cap · market cap 3.14%
Second Best
Industrial
$75.4K
$66.0K – $88.0K
NOI $5,280 @ 7.0% cap · market cap 1.32%
Theoretical Best
Office A
$287.0K
$251.2K – $334.9K
NOI $20,092 @ 7.0% cap · market cap 5.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- RENT-2-OWN Middletown — 3850 Towne Blvd, Middletown, OH 45005
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
