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    Elaine Gillespie, Cincinnati, OH

    License ID: 2003013101
    Equity Llc
    Association
    Cincinnati Area Board Of Realtors Inc

    Service Locations

    Contact details

    Phone:
    (513) 562-2238
    Office Address:
    455 Delta Ave Ste 200, Cincinnati, OH, 45226

    Performance

    Listings
    15

    Listings

    For Sale (4)

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    • $2,925,000
      9,000 SF

      Office Building For Sale/Lease

      9,000 sqft office building available for sale or lease.
      8271 Pine Rd, Cincinnati, OH 45236
      View Details
    • Contact for pricing

      Land for Freestanding Building

      Land approved for a 7,150 SF building in Blue Ash.
      4200 Cooper Rd, Cincinnati, OH 45242
      View Details
    • $590,000
      7,150 SF

      Blue Ash Office Space Opportunity

      Approved office space with ample parking and nearby amenities.
      4200 Cooper Rd, Blue Ash, OH 45242
      View Details
    • Contact for pricing
      5,500 SF

      Retail Outlot with Drive-Thru

      Retail space with drive-thru, convenient location, and high visibility.
      7927 E Kemper Rd, Cincinnati, OH 45249
      View Details

    For Lease (11)

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    • Contact for pricing

      Medical Office Space For Lease

      Class A medical office space available for lease.
      7661 Beechmont Ave, Cincinnati, OH 45255
      View Details
    • $14 SF/Yr
      2,820 SF

      Office Space with Separate Entrance

      Office space for rent with convenient highway access and parking.
      2055 Reading Rd, Cincinnati, OH 45202
      View Details
    • Contact for pricing
      1,766 SF

      Mt. Adams Office Space

      Charming office space with fitness center and walkable amenities.
      1136 St. Gregory St, Cincinnati, OH
      View Details
    • $17 SF/Yr
      1,200 SF

      Mt. Adams Office Space

      Charming office space in Mt. Adams with fitness center.
      1101 Saint Gregory St, Cincinnati, OH 45202
      View Details
    • $12 SF/Yr
      1,333 SF

      Office Space with Building Signage

      Office space available with upgraded amenities and building signage.
      4243 Hunt Rd, Cincinnati, OH 45242
      View Details
    • Contact for pricing
      10,299 SF

      Downtown Office Space For Rent

      Office space near riverfront parks and downtown Cincinnati.
      310 Culvert St, Cincinnati, OH 45202
      View Details
    • $22 SF/Yr
      1,942 SF

      Class A Medical Office Space

      Class A medical office space with ample parking and signage.
      4850 Red Bank Rd, Cincinnati, OH 45227
      View Details
    • $16 SF/Yr
      4,093 SF

      Class A Office Medical Space

      4,093 RSF office medical space for lease on Beechmont Avenue.
      7661 Beechmont Ave, Cincinnati, OH 45255
      View Details
    • $16 SF/Yr
      2,699 SF

      Class A Office/Medical Space

      Office/Medical space with high visibility and covered parking.
      2135 Dana Ave, Cincinnati, OH 45207
      View Details
    • Contact for pricing
      2,588 SF

      Versatile Office/Retail Space Available

      Divisible office/retail space with excellent location and signage opportunities.
      7903 E Kemper Rd, Cincinnati, OH 45249
      View Details
    • Contact for pricing

      Class A Office/Medical Space

      Office/Medical space with unparalleled access and covered parking.
      2135 Dana Ave, Cincinnati, OH 45207
      View Details

    Leases and Sales on Map

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    Elaine Gillespie, Cincinnati, OH
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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.

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