Mixed-Use Property with Heated
For Sale
Contact for pricing
3 Village Square, Cincinnati, OH 45246
Retail and residential components offer separate commercial and living spaces with additional parking and storage.
Property Size3,295 SF
Price / SF$210.93
Days on Market154
Property Features for 3 Village Square
General Information
Standard status
Active
Size
3,295 SF
Property subtype
Mixed Use, Retail
Zoning
Business
Occupancy
100%
Investment Type
Owner/User
Building Details
Year Built
1900
Year Renovated
2009
Buildings
1
Stories
2
Units
2
Listing Agency:
Sibcy Cline
(513) 378-5801
Listed By:
Nat Comisar · License #OH SAL.2006000748
Source:
Crexi
Added: Mar 30
Changed: Aug 29
Last Checked: Aug 29 at 5:17PM
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 Sibcy Cline
Investment Insights
Based on property information with market context.
This mixed-use property at 3 Village Square combines a retail area with a two-bedroom apartment. The building measures 3,295 square feet and includes ample storage, a private lot, and a heated rear garage. Separate metering supports the distinct commercial and residential components. The property underwent a full rehabilitation in 2009 and is currently configured for a gift shop and short-term rental use.
Located in Glendale, Cincinnati, Ohio 45246, the property also benefits from public parking in addition to its on-site parking areas. The real estate is offered separately from the business and inventory, allowing the property and operating components to be considered independently.
Located in Glendale, Cincinnati, Ohio 45246, the property also benefits from public parking in addition to its on-site parking areas. The real estate is offered separately from the business and inventory, allowing the property and operating components to be considered independently.
Key Highlights
- 3,295‑square‑foot mixed‑use property with retail space and a 2‑bed apartment
- Separate metering for the commercial and residential components
- Full rehabilitation completed in 2009
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
$40,034
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
5.76%
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%
$800,680
$800.7K
Cap Rate 7%
$571,914
$571.9K
Cap Rate 9%
$444,822
$444.8K
Market Conditions
NOI Build-Up for 3,295 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
$71.2K $21.60/SF
− Vacancy
−$7.1K −$2.16/SF
EGI
$64.1K $19.44/SF
− OpEx
−$24.0K −$7.29/SF
NOI
$40.0K $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%
$800,680
Cap Rate 7%
$571,914
Cap Rate 9%
$444,822
Alternative Uses
Best Use
Mixed Use
$571.9K
$500.4K – $667.2K
NOI $40,034 @ 7.0% cap · market cap 5.76%
Second Best
Retail
$542.7K
$474.9K – $633.1K
NOI $37,988 @ 7.0% cap · market cap 5.47%
Theoretical Best
Office A
$655.0K
$573.1K – $764.2K
NOI $45,850 @ 7.0% cap · market cap 6.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
264
Businesses Nearby
Explore this area
Business Placement
Demographics for 45246, OH
15,249
Population
6,289
Households
2.4
Avg Household Size
39
Median Age
32%
College-Educated
87%
High-School Grad
9.4 sq mi
ZIP Area
1,622
Density / Sq Mi
$70,150
Median Household Income
$39,764
Median Earnings
$1,231
Median Rent
$189,700
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?
Mixed-use property - Retail and residential components offer separate commercial and living spaces with additional parking and storage.
Where is this mixed-use property located?
The property is located at 3 Village Square Cincinnati, OH.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: 3,295‑square‑foot mixed‑use property with retail space and a 2‑bed apartment; Separate metering for the commercial and residential components; Full rehabilitation completed in 2009
