Mixed-Use Investment
For Sale
$629,000
2340 Laredo Ave, Cincinnati, OH 45206
Turnkey mixed-use property in Walnut Hills with recent improvements.
Property Size4,099 SF
Price / SF$153.45
Days on Market153
Property Features for 2340 Laredo Ave
General Information
Standard status
Active
Size
4,099 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$11,624
Listing Agency:
Keller Williams Advisors
(513) 532-6462
Listed By:
Alicia J Stoughton · License #2016003934
(513) 532-6462
Source:
Exprealty
Added: Mar 27
Changed: Aug 25
Last Checked: Aug 26 at 12:17PM
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 Advisors
Investment Insights
Based on property information with market context.
This mixed-use investment opportunity is located in Walnut Hills. The property consists of over 4000 square feet in two connected buildings. There is off-street parking available, and the buildings have exterior entrances from both Victory Parkway and Laredo Avenue. Recent improvements to the property total over $80,000 and include paint, plaster, flooring, windows, electrical work, and landscaping. The building at 2337 Victory Parkway features seven private suites with a shared lobby, restrooms, kitchenette, and workspace. One suite is currently occupied by a nail salon. The six additional suites have been recently renovated and are suitable for professional and salon uses. The building at 2340 Laredo consists of two rental units. The second-floor unit is a one-bedroom, one-bathroom VRBO/Airbnb unit currently occupied by a midterm renter. The third-floor unit is a studio occupied by a long-term tenant. Shared laundry facilities are located in the basement. Utility expenses are calculated based on 2025 monthly averages.
Key Highlights
- Turn‑key mixed‑use investment property in desirable Walnut Hills location.
- Over 4000 sq ft in 2 connected buildings with off‑street parking.
- Over $80k in recent improvements (paint/plaster, flooring, windows, electrical, & landscaping).
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
$49,803
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
7.92%
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%
$996,060
$996.1K
Cap Rate 7%
$711,471
$711.5K
Cap Rate 9%
$553,367
$553.4K
Market Conditions
NOI Build-Up for 4,099 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
$88.5K $21.60/SF
− Vacancy
−$8.9K −$2.16/SF
EGI
$79.7K $19.44/SF
− OpEx
−$29.9K −$7.29/SF
NOI
$49.8K $12.15/SF
Area
Cincinnati, OH
Vacancy
10.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$996,060
Cap Rate 7%
$711,471
Cap Rate 9%
$553,367
Alternative Uses
Best Use
Mixed Use
$711.5K
$622.5K – $830.1K
NOI $49,803 @ 7.0% cap · market cap 7.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$814.8K
$713.0K – $950.6K
NOI $57,038 @ 7.0% cap · market cap 9.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,414
Businesses Nearby
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Turnkey mixed-use property in Walnut Hills with recent improvements.
Where is this mixed-use property located?
The property is located at 2340 Laredo Ave Cincinnati, OH.
What is the asking price?
The asking price for this property is $629,000.
What are key features of this property?
This property features: Turn‑key mixed‑use investment property in desirable Walnut Hills location.; Over 4000 sq ft in 2 connected buildings with off‑street parking.; Over $80k in recent improvements (paint/plaster, flooring, windows, electrical, & landscaping).
