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20970931
20970932

1044 Central Ave, Middletown, OH 45044 For Sale

KM
2015001119
Drake & Madison Realty
Listed by Drake & Madison Realty
$550,000
583 days on market
Updated 9 days ago

Parrott Retail & Apartments

Details
Property Type Mixed Use, Multifamily (+1)
Sub Type Apartment Building, Storefront
Square Footage 5,000
Occupancy 100%
Tenancy Multi
Year Renovated 2019
Buildings 1
Stories 2
Zoning retail with residential
Investment Type Stabilized
Ownership Corporate

Central Business district location with onsite and street parking

Marketing description

The property sits on a historic street (historic district) in the middle of a downtown area leading revitalization efforts and receives significant traffic from the convergence of multiple incoming routes on both sides of the property (Main St. & Central Ave/Route 122). This property is in the heart of downtown, next to the Historic, Sorg Opera House, a block from Forest Hills Country Club and across the street from a YMCA. The Great Miami River and bike path is two blocks to the west. Triple Moon Coffee is next door and it’s located within Ohio’s first DORA (Designated Outdoor Refreshment Area) District.

Prime Mixed-Use Property

  1. Originally built in 1845, and recently renovated

  2. 5,000 sqft, 2 story building hosting 2 apartments and 1 retail space.

  3. The apartments are each, 2 bedroom, 1.5 bathrooms laid-out in 1200 sqft.

  4. Exposed 12ft High ceilings and modern finishes.

➢ New roof with white, TPO and insulation (40 yrs)

➢ New windows

➢ New systems in each unit

➢ New appliances & gas stoves

➢ New CCTV system and access control

➢ Oversized exterior lighting

➢ New & updated awnings

➢ One of a kind mural by artist Joshua Stout

Investment highlights

  • 100% Leased

  • Annual income $67,200

  • Apartment Lease $1250/$1225/month

  • Retail (24 months) $3125

  • The property sits on a historic street

Listing Contacts

KM
2015001119
Drake & Madison Realty
Listed by Drake & Madison Realty

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