Mixed-Use Building with
For Sale
$224,900
531 Old State Route 74, Cincinnati, OH 45244
Freestanding commercial property combines a ground-level salon storefront with an upstairs apartment and B-1 zoning.
Property Size1,483 SF
Lot Size0.44 Acres
Price / SF$151.65
Days on Market67
Property Features for 531 Old State Route 74
General Information
Standard status
Active
Size
1,483 SF
Total Parking Spaces
15
Lot size
0.44 Acres
Property subtype
Retail
Zoning
B-1
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Multifamily Units
1
Building Details
Building Size
1,483 SF
Year Built
1919
Buildings
1
Listing Agency:
J. A. Trautmann Realtors
(513) 315-8629
Listed By:
Ben Trautmann
(513) 315-8629
Source:
Jatrealtors
Added: Jun 25
Changed: Aug 29
Last Checked: Aug 29 at 10:47PM
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 J. A. Trautmann Realtors
Investment Insights
Based on property information with market context.
Built in 1919, this freestanding mixed-use property includes a 1,483-square-foot ground-level retail storefront currently configured as a salon, along with an upstairs apartment. The building sits on 0.44 acres and includes signage, frontage on Old State Route 74, and a new HVAC system installed in 2025.
The property offers roughly 15 on-site parking spaces with room to expand. Its B-1 zoning supports small office or retail use, while the residential component adds a separate upstairs configuration. The site is adjacent to Wawa, McDonald's, and Casey's, with LaRosa's planned nearby. I-275 is approximately two minutes away by car, and Eastgate shopping district is approximately four minutes away.
The property offers roughly 15 on-site parking spaces with room to expand. Its B-1 zoning supports small office or retail use, while the residential component adds a separate upstairs configuration. The site is adjacent to Wawa, McDonald's, and Casey's, with LaRosa's planned nearby. I-275 is approximately two minutes away by car, and Eastgate shopping district is approximately four minutes away.
Key Highlights
- Ground‑level retail storefront configured as a salon with upstairs apartment
- 1,483sqft freestanding retail building on .44 acres
- B‑1 zoning supports small office or retail use
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
$15,142
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
6.73%
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%
$302,840
$302.8K
Cap Rate 7%
$216,314
$216.3K
Cap Rate 9%
$168,244
$168.2K
Market Conditions
NOI Build-Up for 1,483 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
$23.1K $15.60/SF
− Vacancy
−$1.5K −$1.01/SF
EGI
$21.6K $14.59/SF
− OpEx
−$6.5K −$4.38/SF
NOI
$15.1K $10.21/SF
Area
ZIP 45244
Vacancy
6.50%
Lease Rate
$15.60 /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%
$302,840
Cap Rate 7%
$216,314
Cap Rate 9%
$168,244
Alternative Uses
Best Use
Retail
$216.3K
$189.3K – $252.4K
NOI $15,142 @ 7.0% cap · market cap 6.73%
Second Best
Mixed Use
$214.5K
$187.7K – $250.3K
NOI $15,015 @ 7.0% cap · market cap 6.68%
Theoretical Best
Office A
$294.8K
$258.0K – $343.9K
NOI $20,636 @ 7.0% cap · market cap 9.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
359
Businesses Nearby
29k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 80%
Dining 20%
Cincinnati
Shops & Services
16,928 visits/mo
0.1 miles
Gold Star Chili
Dining
5,762 visits/mo
0.4 miles
Sunoco
Shops & Services
5,508 visits/mo
0.1 miles
Gerber Collision & Glass
Shops & Services
656 visits/mo
0.3 miles
Demographics for 45244, OH
28,936
Population
11,104
Households
2.6
Avg Household Size
40
Median Age
53%
College-Educated
96%
High-School Grad
21.7 sq mi
ZIP Area
1,333
Density / Sq Mi
$108,413
Median Household Income
$59,717
Median Earnings
$1,075
Median Rent
$346,100
Median Home Value
Market
Vacancy Rate% for Retail in Cincinnati, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Freestanding commercial property combines a ground-level salon storefront with an upstairs apartment and B-1 zoning.
Where is this mixed-use property located?
The property is located at 531 Old State Route 74 Cincinnati, OH.
What is the asking price?
The asking price for this property is $224,900.
What are key features of this property?
This property features: Ground‑level retail storefront configured as a salon with upstairs apartment; 1,483sqft freestanding retail building on .44 acres; B‑1 zoning supports small office or retail use
