Brick Triplex with Detached
For Sale
$375,000
1712 Queen City Avenue, Cincinnati, OH 45214
Commercial Sale, Cincinnati, OH
Property Size3,707 SF
Lot Size0.13 Acres
Price / SF$101.16
Days on Market88
Property Features for 1712 Queen City Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
On Street
Directions
1-75 to Western Hill Viaduct to Queen City
Subdivision
Hamilton-W05
Standard status
Active
APN
2030029013500
Size
3,707 SF
Lot size
0.13 Acres
Utilities
Heating system
Natural Gas
Building Details
Year built
1895
Flooring type
Carpet
Building materials
Brick
Roof type
Shingle
Listing Agency:
RE/MAX Preferred Group · RE/MAX International
(513) 229-7774
Listed By:
Jon Bowling · License #2003017454
(513) 533-4111
Added: Jun 12
Changed: Aug 19
Last Checked: Sep 7 at 6:06PM
MLS# 1882954
Copyright © 2026 MLS of Greater Cincinnati, 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 3,707-square-foot brick multifamily property was built in 1895 and includes two finished residences: one with two bedrooms and another with five bedrooms. A detached garage offers potential for a third unit. The building has carpeted flooring, natural-gas heating, a shingle roof, and on-street parking. The property occupies 0.131 acres in Cincinnati.
Commercial and residential zoning flexibility supports several configuration possibilities, including continued multifamily use, a commercial/residential conversion, or live/work occupancy. Unit 1 is fully electric and has its own electric water heater. Unit 2 uses both gas and electric service. Tenants pay their own gas and electric, while water is paid by the landlord. The property is near highways, shops, restaurants, and everyday amenities.
Commercial and residential zoning flexibility supports several configuration possibilities, including continued multifamily use, a commercial/residential conversion, or live/work occupancy. Unit 1 is fully electric and has its own electric water heater. Unit 2 uses both gas and electric service. Tenants pay their own gas and electric, while water is paid by the landlord. The property is near highways, shops, restaurants, and everyday amenities.
Key Highlights
- 3,707 square feet on 0.131 acres
- Three‑unit multifamily property with one 2‑bedroom unit and one 5‑bedroom unit
- Detached garage has potential for a 3rd unit
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
$31,060
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
8.28%
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%
$621,200
$621.2K
Cap Rate 7%
$443,714
$443.7K
Cap Rate 9%
$345,111
$345.1K
Market Conditions
NOI Build-Up for 3,707 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
$47.2K $12.72/SF
− Vacancy
−$2.8K −$0.75/SF
EGI
$44.4K $11.97/SF
− OpEx
−$13.3K −$3.59/SF
NOI
$31.1K $8.38/SF
Area
Cincinnati, OH
Vacancy
5.90%
Lease Rate
$12.72 /SF/Yr
Expense Ratio
30.00%
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%
$621,200
Cap Rate 7%
$443,714
Cap Rate 9%
$345,111
Alternative Uses
Best Use
Mixed Use
$643.4K
$563.0K – $750.7K
NOI $45,040 @ 7.0% cap · market cap 12.01%
Second Best
Multifamily LT 5
$443.7K
$388.3K – $517.7K
NOI $31,060 @ 7.0% cap · market cap 8.28%
Theoretical Best
Office A
$736.9K
$644.8K – $859.7K
NOI $51,583 @ 7.0% cap · market cap 13.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
294
Businesses Nearby
Explore this area
Business Placement
Demographics for 45214, OH
8,901
Population
5,028
Households
1.8
Avg Household Size
32
Median Age
23%
College-Educated
88%
High-School Grad
2.7 sq mi
ZIP Area
3,297
Density / Sq Mi
$26,348
Median Household Income
$27,243
Median Earnings
$762
Median Rent
$102,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Mixed-use zoning flexibility supports multifamily ownership, commercial use, or a live/work configuration in Cincinnati.
Where is this triplex located?
The property is located at 1712 Queen City Avenue Cincinnati, OH.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 3,707 square feet on 0.131 acres; Three‑unit multifamily property with one 2‑bedroom unit and one 5‑bedroom unit; Detached garage has potential for a 3rd unit
