Turn-Key Hair Salon in
For Sale
$324,900
30 E Central Pkwy Unit 102, Cincinnati, OH 45202
Hair salon with excellent visibility and accessibility in Over-the-Rhine.
Property Size1,665 SF
Price / SF$195.14
Days on Market221
Property Features for 30 E Central Pkwy Unit 102
General Information
Standard status
Active
Size
1,665 SF
Building Details
Year Built
1936
Listing Agency:
Coldwell Banker Realty
Listed By:
William Draznik
(513) 616-0409
Source:
Lovdalgroup
Added: Jan 26
Changed: Sep 3
Last Checked: Sep 4 at 10:26AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This turn-key hair salon is located in Over-the-Rhine at the intersection of Central Parkway and Walnut, within the Art-Deco American Building. The property offers accessibility to clients living or working downtown. The current layout includes 9 chairs, 3 shampoo backwash sinks, 2 dryer chairs, and 1 waxing chair. Soaring 12-foot ceilings provide natural light. A first-floor storage room houses 2 washers, 1 dryer, and a 2-compartment sink. The mezzanine level offers potential as a live/work space, equipped with a kitchenette and bathroom. The monthly HOA fees are $800, which includes 2 deeded parking spaces in the attached garage. Ample on-street and garage parking is available nearby for clients, and the property is located near north and south Streetcar lines. Salon chairs are negotiable. The entry red sofa, entry mirror, and art are excluded from the sale. The property is to be sold as-is.
Key Highlights
- Turn‑key hair salon in a highly visible and accessible location at the intersection of Central Parkway & Walnut in Over‑the‑Rhine.
- Includes 2 deeded parking spaces in the attached garage, with ample on‑street and garage parking nearby.
- Potential for live/work space with a mezzanine level equipped with a kitchenette and bathroom.
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
$20,230
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
6.23%
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%
$404,600
$404.6K
Cap Rate 7%
$289,000
$289.0K
Cap Rate 9%
$224,778
$224.8K
Market Conditions
NOI Build-Up for 1,665 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
$36.0K $21.60/SF
− Vacancy
−$3.6K −$2.16/SF
EGI
$32.4K $19.44/SF
− OpEx
−$12.1K −$7.29/SF
NOI
$20.2K $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%
$404,600
Cap Rate 7%
$289,000
Cap Rate 9%
$224,778
Alternative Uses
Best Use
Mixed Use
$289.0K
$252.9K – $337.2K
NOI $20,230 @ 7.0% cap · market cap 6.23%
Second Best
Office B
$283.9K
$248.4K – $331.2K
NOI $19,872 @ 7.0% cap · market cap 6.12%
Theoretical Best
Office A
$331.0K
$289.6K – $386.1K
NOI $23,168 @ 7.0% cap · market cap 7.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
7,340
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 45202, OH
16,883
Population
11,432
Households
1.5
Avg Household Size
34
Median Age
63%
College-Educated
91%
High-School Grad
2.7 sq mi
ZIP Area
6,253
Density / Sq Mi
$87,930
Median Household Income
$63,901
Median Earnings
$1,524
Median Rent
$444,000
Median Home Value
Market
Vacancy Rate% for Office in Cincinnati, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Hair salon with excellent visibility and accessibility in Over-the-Rhine.
Where is this storefront property located?
The property is located at 30 E Central Pkwy Unit 102 Cincinnati, OH.
What is the asking price?
The asking price for this property is $324,900.
What are key features of this property?
This property features: Turn‑key hair salon in a highly visible and accessible location at the intersection of Central Parkway & Walnut in Over‑the‑Rhine.; Includes **2 deeded parking spaces** in the attached garage, with ample on‑street and garage parking nearby.; Potential for live/work space with a mezzanine level equipped with a kitchenette and bathroom.
