Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Land Suitable for Development Title is generated by Realmo AI

    Union Rd, Middletown, OH 45005

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Shovel-ready land visible from I-75 in Middletown, Ohio.

    Type:Land
    Added:
    Feb 1, 2024
    Days on Market:
    854
    Last Refresh:
    May 12 at 9:49 pm

    Property Features for Union Rd

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    Mark Langdon

    Listing agent Mark Langdon License #OH SAL.2017004458

    Listing office The Schueler Group

    Listing date Feb 1, 2024

    Source Crexi

    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 The Schueler Group

    HighLights

    • Visible to 110,000 Vehicles Per Day (VPD) from I‑75
    • “Shovel‑ready” with Access to All Utilities
    • Possible Development/ Tax Incentives Available
    • Located within Middletown’s Master Planned Renaissance District
    • New $36 Million Cleveland Cliffs Facility On‑Site
    • $150 Million in Recent SR‑122/ I‑75 Interchange Improvements

    Overview

    This commercial land is suitable for a corporate office, high-tech industrial, medical, or research and development facility. The site is described as shovel-ready, with access to all utilities. It benefits from high visibility, with 110,000 vehicles per day passing by on I-75. A new $36 million Cleveland Cliffs facility is located on the site. Recent improvements to the SR-122/I-75 interchange, totaling $150 million, have been completed. The City of Middletown may offer development or tax incentives. The property is located within Middletown’s Master Planned Renaissance District.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Middletown
    County
    Butler
    State
    Ohio
    Longitude
    -84.2838
    Latitude
    39.5216

    Nearby Similar for Sale

    • $300,000
      12,197 SF

      Value-Add Flex Opportunity

      Vacant flex building with customization potential on high-visibility corner lot.
      3125 Yankee Road, Middletown, OH 45044
      View Details
    • $219,999
      4,532 SF

      Mixed-Use Investment Property

      Two-level building combines a ground-floor barber shop with upstairs residential apartments for flexible income potential.
      28 Curtis Street, Middletown, OH 45044
      View Details
    • $194,900
      2,176 SF

      Updated Fully Occupied Duplex

      A turn-key, fully occupied duplex with separate utilities and multiple recent updates, well-suited for income-focused investors.
      40 Crawford Street, Middletown, OH 45044
      View Details
    • $199,000
      1,830 SF

      Two Homes on One Parcel

      Two single-family homes on one parcel, great for investors.
      3120 Illinois Ave, Middletown, OH 45042
      View Details
    • $94,900
      2,204 SF

      Historic Commercial Building in Middletown

      Historic building suitable for cafe, retail, or restaurant use.
      1912 Tytus Avenue, Middletown, OH 45042
      View Details
    • $625,000
      8,000 SF

      Middletown Health Care Office Space

      8,000 SF medical office with patient rooms and basement.
      74 N Breiel Blvd, Middletown, OH
      View Details
    • $165,000
      3,548 SF

      Mixed-Use Property with Office, Residence

      Mixed-use property featuring office space and residential unit.
      2003 Central Avenue, Middletown, OH 45044
      View Details
    • $150,000

      SINGLE_FAMILY - Middletown, OH

      136 N Breiel Boulevard, Middletown, OH 45042
      View Details
    • $2,498,130
      1,649 SF

      New Starbucks with Drive-Thru

      New Starbucks with drive-thru, corporately guaranteed, high-traffic location.
      6730 Roosevelt Ave, Middletown, OH
      View Details
    • $1.00
      3,548 SF

      Professional Office Space in Middletown

      Office space in high-traffic area with versatile layout.
      2005 Central Avenue, Middletown, OH 45044
      View Details
    • $3,950,000

      367 Acres Near Middletown

      Large land parcel with agricultural and development potential.
      881 Middletown Eaton Road, Madison Twp, OH 45042
      View Details
    • $150,000

      Commercial Office Space Available

      End unit office space with medical buildout and basement.
      136 N Breiel Boulevard, Middletown, OH 45042
      View Details

    FAQs

    What type of property is this?
    Commercial land - Shovel-ready land visible from I-75 in Middletown, Ohio.
    Where is this commercial land located?
    The property is located at Union Rd Middletown, OH.
    What are key features of this property?
    This property features: Visible to 110,000 Vehicles Per Day (VPD) from I‑75; “Shovel‑ready” with Access to All Utilities; Possible Development/ Tax Incentives Available
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Mark Langdon
    Real Estate License ID: OH SAL.2017004458
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    Union Rd, Middletown, OH 45005
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!