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    894 South Main Street Centerville, OH 45458

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    For Lease
    Contact for pricing

    Retail space available in high-traffic Centerville, Ohio.

    Type:Retail
    Property size:
    96,633 SF
    Added:
    Nov 21, 2025
    Days on Market:
    132
    Last Refresh:
    Mar 30 at 8:02 pm

    Property Features for 894 South Main Street

    General Information

    Standard status
    Active
    Size
    96,633 SF
    Property subtype
    Retail

    Spaces For Lease

    at 894 South Main Street Contact us

    We can help!

    Listing Contact
    Michael Costantini
    Michael Costantini

    Listing agent Michael Costantini License #OH #2018001126

    Listing office 3CRE Advisors, LLC - corporate

    Listing date Nov 21, 2025

    Source 3cre

    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 3CRE Advisors, LLC - corporate

    Overview

    Centerville Retail Opportunity

    A retail opportunity is available in Centerville, Ohio, offering a junior box space ranging from 25,000 to 32,000 square feet. The versatile space is suitable for various retail applications, including grocery stores, department stores, soft goods retailers, food service providers, and entertainment venues. The property is situated at the intersection of OH-48 and Spring Valley Pike, providing high visibility and exposure. The location benefits from a thriving retail environment and a residential community, attracting both local and regional customers. Centerville combines suburban appeal with commercial activity, making it suitable for businesses seeking to expand or establish a presence in a dynamic market. The property is part of a larger retail property with a total size of 96,633 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Shopping centers

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Centerville Square Shopping Center — Centerville Place Shopping Center, Washington Township, OH 45458
    • Ohio BMV Express Kiosk — 1095 S Main St, Centerville, OH 45458
    • Quick-Tag — Pet Supplies Plus, 987 S Main St, Centerville, OH 45458
    • Coinstar Kiosk | Bitcoin ATM — 1095 S Main St, Centerville, OH 45459

    Location Insight

    • Map
    • Local Demand
    City
    Centerville
    County
    Montgomery
    State
    Ohio
    Longitude
    -84.1585
    Latitude
    39.6149

    Nearby Similar for Lease

    • $17/mo

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      Centerville Retail Space Available

      Retail space available for lease in Centerville, Ohio.
      898 S Main St, Centerville, OH
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      Centerville Retail Opportunity

      Retail space available in Centerville, Ohio.
      890 S Main St, Centerville, OH
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      Centerville Office Space For Rent

      Office space in a park-like setting with highway visibility.
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      Retail Financial Center Space Available

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      Office/Warehouse Space For Lease

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    FAQs

    What type of property is this?
    Shopping center - Retail space available in high-traffic Centerville, Ohio.
    Where is this shopping center located?
    The property is located at 894 South Main Street Centerville, OH.
    What are key features of this property?
    This property features: High‑traffic location at the intersection of OH‑48 and Spring Valley Pike.; Versatile **25,000‑32,000 SqFt Junior Box space** suitable for various retail uses.; Located in Centerville, Ohio, a dynamic market with a strong blend of suburban appeal and commercial vitality.
    (513) 383-8413
    We can help!
    Listing Contact
    Michael Costantini
    Michael Costantini
    Real Estate License ID: OH #2018001126
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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