Apartment Building With Ground-Floor
Queen City Avenue 1 Cincinnati, OH 45214
Queen City Avenue 1, Cincinnati, OH, 45214
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For Sale
Contact for pricing
Six residential units plus ground-floor commercial space, supported by 2024 furnace updates.
Property Size4,924 SF
Price / SF$116.77
Days on Market118
Property Features for Queen City Avenue 1
General Information
- Standard status
- Active
- Size
- 4,924 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1900
Listing agency
Keller Williams Seven Hills
Listed by
Jahmar Daniels · License #2014003211
Source
Crexi
Added: Mar 27 Updated: Jul 10 at 1:50PM Checked: Jul 22 at 10:19AM
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 Keller Williams Seven Hills
Investment Insights
Based on property information with market context.
This multifamily apartment building includes five 1-bedroom units and one spacious 3-bedroom unit. The first floor offers an opportunity for retail or mixed-use commercial space. Mechanical updates include furnaces replaced or updated in 2024. The 3-bedroom unit requires a sprinkler system installation, estimated at approximately $60,000, which should be factored into planning and timelines.
Located in Cincinnati, Ohio (45214), the property’s configuration supports both residential living and a commercial component on the first floor. That mixed setup can appeal to buyers seeking to operate or reposition the asset with multiple income streams in mind, while also keeping the day-to-day scope anchored to a single building.
For investors and owner-operators, the unit mix provides variety between 1-bedroom and larger 3-bedroom demand profiles, while the ground-floor space creates flexibility for retail use or a combined residential and commercial strategy. Buyers should review the sprinkler requirement for the 3-bedroom unit and confirm scope and scheduling as part of underwriting. Overall, it’s a single-property format that pairs apartments with a first-floor commercial opportunity.
Located in Cincinnati, Ohio (45214), the property’s configuration supports both residential living and a commercial component on the first floor. That mixed setup can appeal to buyers seeking to operate or reposition the asset with multiple income streams in mind, while also keeping the day-to-day scope anchored to a single building.
For investors and owner-operators, the unit mix provides variety between 1-bedroom and larger 3-bedroom demand profiles, while the ground-floor space creates flexibility for retail use or a combined residential and commercial strategy. Buyers should review the sprinkler requirement for the 3-bedroom unit and confirm scope and scheduling as part of underwriting. Overall, it’s a single-property format that pairs apartments with a first-floor commercial opportunity.
Key Highlights
- Multi‑unit property with five 1‑bedroom units and one 3‑bedroom unit
- Includes ground‑floor commercial space that could support retail or mixed‑use use
- Updated furnaces installed in 2024
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $70.3k | $14.28 |
| − Vacancy | −$3.8k | −$0.77 |
| EGI | $66.5k | $13.51 |
| − OpEx | −$29.9k | −$6.08 |
| NOI | $36.6k | $7.43 |
4,924 SF · lease $14.28/SF/yr · vacancy 5.40% · expense 45.00%
Alternative Uses
Best Use
Retail
$811.0K
$709.6K – $946.2K
NOI $56,769 @ 7.0% cap · market cap 9.87%
Second Best
Apartment 5plus
$522.6K
$457.3K – $609.8K
NOI $36,585 @ 7.0% cap · market cap 6.36%
Theoretical Best
Office A
$978.8K
$856.5K – $1.14M
NOI $68,517 @ 7.0% cap · market cap 11.92%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Six residential units plus ground-floor commercial space, supported by 2024 furnace updates.
Where is this apartment building located?
The property is located at Queen City Avenue 1 Cincinnati, OH.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Multi‑unit property with five 1‑bedroom units and one 3‑bedroom unit; Includes ground‑floor commercial space that could support retail or mixed‑use use; Updated furnaces installed in 2024
