Two-Story Office
New
For Sale
$195,000
848 E Franklin Street, Centerville, OH 45459
COMMERCIAL - Centerville, OH
Property Size1,365 SF
Lot Size0.02 Acres
Price / SF$142.86
Days on Market5
Property Features for 848 E Franklin Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Subdivision
Franklin Street Woods Office Condo
Directions
Exit the parking lot toward W Franklin St, turn left onto W Franklin St, then turn right and left into the destination. Destination will be on the left at 848 E Franklin St, Dayton, OH 45459.
Standard status
Active
APN
O68509170003
Size
1,365 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Year
2025
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Building Details
Year built
1989
Building materials
Aluminum Siding, Brick
Listing Agency:
CENTURY 21 The Gene Group
(937) 203-8180
Listed By:
Kim McAndrew
(937) 203-8180
Added: Aug 5
Last Checked: Aug 9 at 6:06AM
MLS# 1047530
Copyright © 2026 Western Regional Information System & Technology, 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 1,365-square-foot office property occupies two levels within a 1989 building finished with brick and aluminum siding. The interior includes multiple private offices, a half bath, and an upper-level room with vaulted ceilings and substantial natural light. Additional rooms can accommodate office, consultation, conference, treatment, or storage functions based on the occupant’s needs. Updated flooring, neutral paint, and contemporary finishes are present throughout the space.
Building systems include central air conditioning and natural-gas heat, with service provided by a public sewer connection. The 0.02-acre parcel features landscaped surroundings and a maintained exterior, supporting a professional presentation for visitors and occupants. Its combination of enclosed rooms and larger flexible areas provides a varied office configuration within a compact commercial property.
Building systems include central air conditioning and natural-gas heat, with service provided by a public sewer connection. The 0.02-acre parcel features landscaped surroundings and a maintained exterior, supporting a professional presentation for visitors and occupants. Its combination of enclosed rooms and larger flexible areas provides a varied office configuration within a compact commercial property.
Key Highlights
- 1,365 square feet across two levels
- Multiple private offices plus additional flexible rooms
- Upper‑level room with vaulted ceilings and abundant natural light
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
$11,496
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
5.90%
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%
$229,920
$229.9K
Cap Rate 7%
$164,229
$164.2K
Cap Rate 9%
$127,733
$127.7K
Market Conditions
NOI Build-Up for 1,365 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
$23.4K $17.16/SF
− Vacancy
−$4.3K −$3.12/SF
EGI
$19.2K $14.04/SF
− OpEx
−$7.7K −$5.61/SF
NOI
$11.5K $8.42/SF
Area
Montgomery County, OH
Vacancy
18.20%
Lease Rate
$17.16 /SF/Yr
Expense Ratio
40.00%
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%
$229,920
Cap Rate 7%
$164,229
Cap Rate 9%
$127,733
Alternative Uses
Best Use
Healthcare Medical
$164.2K
$143.7K – $191.6K
NOI $11,496 @ 7.0% cap · market cap 5.90%
Second Best
Office B
$160.7K
$140.7K – $187.5K
NOI $11,252 @ 7.0% cap · market cap 5.77%
Theoretical Best
Multifamily LT 5
$12.91M
$11.30M – $15.06M
NOI $903,721 @ 7.0% cap · market cap 463.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
537
Businesses Nearby
Explore this area
Business Placement
Demographics for 45459, OH
28,344
Population
13,988
Households
2
Avg Household Size
50
Median Age
50%
College-Educated
98%
High-School Grad
14.2 sq mi
ZIP Area
1,996
Density / Sq Mi
$89,144
Median Household Income
$54,044
Median Earnings
$1,187
Median Rent
$276,100
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Flexible office layout includes private rooms, a half bath, and a vaulted upper-level workspace with natural light.
Where is this office units located?
The property is located at 848 E Franklin Street Centerville, OH.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: 1,365 square feet across two levels; Multiple private offices plus additional flexible rooms; Upper‑level room with vaulted ceilings and abundant natural light
