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    Mixed-Use Corner Asset in Elmwood Title is generated by Realmo AI

    5700 Highland Avenue, Elmwood Place, OH 45216

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    For Sale
    $139,900

    MULTI_FAMILY - Elmwood Place, OH

    Lot size:
    0.06 Acres
    Added:
    Apr 29, 2026
    Days on Market:
    18
    Last Refresh:
    May 16 at 5:06 pm

    Property Features for 5700 Highland Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking features
    Offsite
    Exterior features
    Sidewalks, Lights
    Standard status
    Active
    APN
    661-0004-0044-00
    Lot size
    0.06 Acres

    Utilities

    Heating system
    Forced Air, Natural Gas

    Building Details

    Year built
    1920
    Flooring type
    Wood, Concrete
    Building materials
    Brick, Stone
    Roof type
    Shingle, Composition

    We can help!

    Listing Contact
    Svetlana Petrova

    Listing agent Svetlana Petrova

    Listing office Plum Tree Realty 9078 Union Centre Blvd Ste 350, West Chester, OH

    Listing date Apr 29, 2026

    MLS# 1877163

    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.

    HighLights

    • Mixed‑use corner property with retail and residential components offering value‑add potential.
    • Operating retail space with existing beer, wine, and lottery licenses.
    • Two 2‑bedroom, 1‑bath units on the second floor ready for redevelopment.
    • Full basement providing utility space, storage, and infrastructure.
    • Desirable corner lot location with sidewalks and lights.
    • Solid construction with brick and stone exterior.

    Overview

    This mixed-use corner property in Elmwood Place, OH, offers value-add potential. The ground floor features an operating retail space with beer, wine, and lottery licenses. The ground floor also includes a studio residential unit in non-finished condition, requiring full renovation. The second floor contains two 2-bedroom, 1-bath units that have been stripped to the studs and are ready for full redevelopment. A full basement provides additional utility space, housing mechanical systems, storage, and infrastructure to support both commercial and residential components. The property is being sold as-is and is situated on a lot of approximately 0.061 acres. It is ideal for an experienced investor seeking to reposition and maximize income across both commercial and residential components. Buyer is responsible for verifying zoning, permitted uses, and transferability of licenses.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Suggested Use

    Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Elmwood Place
    County
    Hamilton
    State
    Ohio
    Longitude
    -84.4817
    Latitude
    39.1981

    Nearby Similar for Sale

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    • $1.00
      12,800 SF

      Retail Building in Elmwood Place

      Retail building with business zoning and rental income potential.
      6018 Vine Street, Elmwood Place, OH 45216
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    • $399,000
      1,350 SF

      Elmwood Place Restaurant Opportunity

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    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property with retail and residential units, value-add potential.
    Where is this mixed-use property located?
    The property is located at 5700 Highland Avenue Elmwood Place, OH.
    What is the asking price?
    The asking price for this property is $139,900.
    What are key features of this property?
    This property features: Mixed‑use corner property with retail and residential components offering value‑add potential.; Operating retail space with existing beer, wine, and lottery licenses.; Two 2‑bedroom, 1‑bath units on the second floor ready for redevelopment.
    (513) 378-4663
    We can help!
    Listing Contact
    Svetlana Petrova
    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.

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