Building Details

Year built 1850

Flooring type Vinyl, Carpet

Building materials Aluminum Siding

Roof type Shingle

Listing Agency: RE/MAX Incompass a***@soldonohio.com Show Phone

Listed By: Todd Helton Show Phone

Added: Jul 16 Changed: Aug 29 Last Checked: Aug 31 at 3:06PM

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MLS# 1887057

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 storefront property includes 4,230 square feet of retail-oriented space on a 0.2397-acre parcel. The current country gift store configuration is supported by vinyl and carpet flooring, aluminum siding, glass block windows, and a shingle roof. Recent property work includes a new roof, box gutters, downspouts, and electrical upgrades.

Located at 800 Walnut Street in Millville, Ohio, the property is identified in Butler County. Heating is provided by a natural gas forced-air system. The building dates to 1850, offering an established commercial structure for continued retail use.

Key Highlights

• 4,230‑square‑foot storefront property on a 0.2397‑acre lot
• Current country gift store operation
• New roof, box gutters, and downspouts

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

$17,959

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

5.99%

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%

$359,180 $359.2K

Cap Rate 7%

$256,557 $256.6K

Cap Rate 9%

$199,544 $199.5K

Market Conditions

NOI Build-Up for 4,230 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

$27.4K $6.48/SF

− Vacancy

−$1.8K −$0.41/SF

EGI

$25.7K $6.07/SF

− OpEx

−$7.7K −$1.82/SF

NOI

$18.0K $4.25/SF

Area

Butler County, OH

Vacancy

6.40%

Lease Rate

$6.48 /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%

$359,180

Cap Rate 7%

$256,557

Cap Rate 9%

$199,544

Alternative Uses

Best Use

Retail

$256.6K

$224.5K – $299.3K (±1% cap)

NOI $17,959 @ 7.0% cap · market cap 5.99%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$836.4K

$731.8K – $975.8K (±1% cap)

NOI $58,545 @ 7.0% cap · market cap 19.52%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Storefront properties

Suggested Use

Top Pick Real Estate Agency Electrical Service Auto Repair Shop Law Firm (Bike/Boat/Book/etc) Store Food Market

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

64

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 45013, OH

53,911

Population

21,734

Households

2.5

Avg Household Size

41

Median Age

23%

College-Educated

92%

High-School Grad

117.7 sq mi

ZIP Area

458

Density / Sq Mi

$72,932

Median Household Income

$40,730

Median Earnings

$967

Median Rent

$217,200

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

Questions? Ask Rey

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

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Frequently Asked Questions

What type of property is this?

Storefront property - Established storefront with retail improvements, natural gas heating, and a shingle roof in Millville.

Where is this storefront property located?

The property is located at 800 Walnut Street Millville, OH.

What is the asking price?

The asking price for this property is $300,000.

What are key features of this property?

This property features: 4,230‑square‑foot storefront property on a 0.2397‑acre lot; Current country gift store operation; New roof, box gutters, and downspouts