14-Unit Apartment
For Sale
Contact for pricing
10916 Reading Rd, Cincinnati, OH 45241
Fourteen residential units include one-bedroom apartments and studios with boiler heat and through-the-wall AC.
Property Size8,742 SF
Price / SF$131.55
Days on Market158
Property Features for 10916 Reading Rd
General Information
Standard status
Active
Size
8,742 SF
Total Parking Spaces
14
Property subtype
Multifamily
Zoning
SM-D
Occupancy
93%
Investment Type
Stabilized
Net Operating Income
$99,210
Building Details
Year Built
1965
Buildings
1
Stories
3
Units
14
Listing Agency:
KW Commercial Keller Williams Advisor's Realty
Listed By:
Adam Curry · License #OH 2014003970
Source:
Crexi
Added: Mar 27
Changed: Aug 30
Last Checked: Aug 30 at 12:24PM
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 KW Commercial Keller Williams Advisor's Realty
Investment Insights
Based on property information with market context.
Evenview Apartments is a 14-unit multifamily property at 10916 Reading Road in Cincinnati, Ohio. The 8,742-square-foot building was constructed in 1965 and includes 11 one-bedroom units and 3 studios. Each unit has boiler heat and through-the-wall AC, while tenants pay their own electric service. RUBS is implemented across the property, and the offering reflects an 8.6% cap rate at full occupancy.
The property includes 14 off-street parking spaces in a newly striped lot. It is zoned SM-D, located next to Sharonville City Hall, and positioned across from the Queen City Sports Complex, which is undergoing a major renovation.
The property includes 14 off-street parking spaces in a newly striped lot. It is zoned SM-D, located next to Sharonville City Hall, and positioned across from the Queen City Sports Complex, which is undergoing a major renovation.
Key Highlights
- 14‑unit apartment property with 11 one‑bedroom units and 3 studios
- 8,742‑square‑foot building constructed in 1965
- 8.6% cap rate at full occupancy
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
$64,952
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
5.65%
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%
$1,299,040
$1.3M
Cap Rate 7%
$927,886
$927.9K
Cap Rate 9%
$721,689
$721.7K
Market Conditions
NOI Build-Up for 8,742 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
$124.8K $14.28/SF
− Vacancy
−$6.7K −$0.77/SF
EGI
$118.1K $13.51/SF
− OpEx
−$53.1K −$6.08/SF
NOI
$65.0K $7.43/SF
Area
Cincinnati, OH
Vacancy
5.40%
Lease Rate
$14.28 /SF/Yr
Expense Ratio
45.00%
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%
$1,299,040
Cap Rate 7%
$927,886
Cap Rate 9%
$721,689
Alternative Uses
Best Use
Apartment 5plus
$927.9K
$811.9K – $1.08M
NOI $64,952 @ 7.0% cap · market cap 5.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.74M
$1.52M – $2.03M
NOI $121,645 @ 7.0% cap · market cap 10.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
384
Businesses Nearby
Explore this area
Business Placement
Demographics for 45241, OH
24,380
Population
11,131
Households
2.2
Avg Household Size
44
Median Age
48%
College-Educated
95%
High-School Grad
17.5 sq mi
ZIP Area
1,393
Density / Sq Mi
$94,943
Median Household Income
$60,857
Median Earnings
$1,137
Median Rent
$292,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fourteen residential units include one-bedroom apartments and studios with boiler heat and through-the-wall AC.
Where is this apartment building located?
The property is located at 10916 Reading Rd Cincinnati, OH.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 14‑unit apartment property with 11 one‑bedroom units and 3 studios; 8,742‑square‑foot building constructed in 1965; 8.6% cap rate at full occupancy
