2230 Gilbert Ave, Cincinnati, OH 45206

Listing Agency: Lee & Associates | Cincinnati Show Phone

Listed By: Paul Schmerge · License #0000439660 Show Phone

Source: Moodyscre

Added: Sep 9 Changed: Oct 26 Last Checked: Nov 6 at 8:29AM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This 29,000-square-foot warehouse features Tudor-style construction and a practical loading configuration with one dock and two drive-in doors. The property is scheduled to become vacant by 1/1/2027, providing a future opportunity for an owner-user, occupant, or redevelopment plan.

Positioned in uptown Cincinnati, the building offers close access to I-71. Its existing warehouse format, loading improvements, and planned vacancy create a flexible basis for evaluating continued industrial use or a new property concept.

Key Highlights

• 29,000‑square‑foot warehouse building
• Tudor‑style construction
• One dock and two drive‑in doors

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$169,641

Cap Rate

7.31%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,392,820 $3.4M

Cap Rate 7%

$2,423,443 $2.4M

Cap Rate 9%

$1,884,900 $1.9M

Is this asking price fair?

Market Conditions

NOI Build-Up for 29,000 SF

Gross rent

$215.8K $7.44/SF

− Vacancy

−$16.2K −$0.56/SF

EGI

$199.6K $6.88/SF

− OpEx

−$29.9K −$1.03/SF

NOI

$169.6K $5.85/SF

Area

Cincinnati, OH

Vacancy

7.50%

Lease Rate

$7.44 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,392,820

Cap Rate 7%

$2,423,443

Cap Rate 9%

$1,884,900

Alternative Uses

Best Use

Warehouse

$2.42M

$2.12M – $2.83M (±1% cap)

NOI $169,641 @ 7.0% cap · market cap 7.31%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$5.76M

$5.04M – $6.73M (±1% cap)

NOI $403,535 @ 7.0% cap · market cap 17.39%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Obsolete Cutter Parts Printing Equipment Supplier Southern Ohio Printing ... Marketing & Advertising Seventh Floor Bindery ... (Bike/Boat/Book/etc) Store Dov Graphics Marketing & Advertising Planet Dance Cincinnati Training Center

Suggested Use

Top Pick Big Box & Wholesale Store Kitchen & Bath Showroom Real Estate Agency Storage Facility (Bike/Boat/Book/etc) Store HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,481

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 45206, OH

10,670

Population

7,191

Households

1.5

Avg Household Size

37

Median Age

49%

College-Educated

87%

High-School Grad

2.0 sq mi

ZIP Area

5,335

Density / Sq Mi

$51,128

Median Household Income

$44,936

Median Earnings

$849

Median Rent

$269,900

Median Home Value

Market

Average Price Trend$/SF for Warehouses in Cincinnati, OH

$76.92 Jul

$108 Aug

$112 Sep

$117 Oct

Properties on Market for Warehouses in Cincinnati

Jul

Aug

Sep

Oct

Vacancy Rate% for Industrial in Cincinnati, OH

4.2% 2019

5% 2020

4.1% 2021

1.7% 2022

5.1% 2023

5.6% 2024

6.2% 2025

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Frequently Asked Questions

What type of property is this?

Warehouse - Warehouse building with dock access, drive-in loading, and planned vacancy for future occupancy or repositioning.

Where is this warehouse located?

The property is located at 2230 Gilbert Ave Cincinnati, OH.

What is the asking price?

The asking price for this property is $2,320,000.

What are key features of this property?

This property features: 29,000‑square‑foot warehouse building; Tudor‑style construction; One dock and two drive‑in doors