Art Deco Salon Retail
For Sale
$324,900
30 E Central Pkwy Unit 102, Cincinnati, OH 45202
Configured salon space includes client stations, wash sinks, and a dedicated storage room.
Property Size1,665 SF
Price / SF$195.14
Days on Market42
Property Features for 30 E Central Pkwy Unit 102
General Information
Standard status
Active
Size
1,665 SF
Total Parking Spaces
2
Additional Details
Floor
1
Corner Location
Yes
Amenities
soaring 12ft ceilings
great natural light
storage room
mezzanine level with kitchenette & bathroom
Building Details
Year Built
1936
Construction
Art-Deco
Listing Agency:
Coldwell Banker Realty
(513) 616-0409
Listed By:
William Draznik
Source:
Lovdalgroup
Added: Jul 20
Changed: Aug 29
Last Checked: Aug 25 at 5:05AM
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 1,665-square-foot retail space occupies Unit 102 in the American Building, constructed in 1936. The existing salon configuration includes 9 chairs, 3 shampoo backwash sinks, 2 dryer chairs, and 1 waxing chair, with 12-foot ceilings that bring natural light into the space. A first-floor storage room adds 2 washers, 1 dryer, and a 2-compartment sink.
The mezzanine includes a kitchenette and bathroom, providing additional functional space within the suite. Two deeded parking spaces are located in the attached garage, while additional on-street and garage parking is available nearby. The property sits at 30 E. Central Pkwy at the intersection of Central Parkway and Walnut, near the north and south Streetcar lines. Salon chairs are negotiable; the entry sofa, mirror, and artwork are excluded from the sale.
The mezzanine includes a kitchenette and bathroom, providing additional functional space within the suite. Two deeded parking spaces are located in the attached garage, while additional on-street and garage parking is available nearby. The property sits at 30 E. Central Pkwy at the intersection of Central Parkway and Walnut, near the north and south Streetcar lines. Salon chairs are negotiable; the entry sofa, mirror, and artwork are excluded from the sale.
Key Highlights
- 1,665 SF retail space in the American Building, constructed in 1936
- Existing layout with 9 chairs, 3 shampoo backwash sinks, 2 dryer chairs, and 1 waxing chair
- 12‑foot ceilings with natural light
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
$19,196
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
5.91%
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%
$383,920
$383.9K
Cap Rate 7%
$274,229
$274.2K
Cap Rate 9%
$213,289
$213.3K
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
$30.0K $18.00/SF
− Vacancy
−$2.5K −$1.53/SF
EGI
$27.4K $16.47/SF
− OpEx
−$8.2K −$4.94/SF
NOI
$19.2K $11.53/SF
Area
Cincinnati, OH
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$383,920
Cap Rate 7%
$274,229
Cap Rate 9%
$213,289
Alternative Uses
Best Use
Retail
$274.2K
$240.0K – $319.9K
NOI $19,196 @ 7.0% cap · market cap 5.91%
Second Best
—
—
no second resolved use
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
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 Retail in Cincinnati, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Configured salon space includes client stations, wash sinks, and a dedicated storage room.
Where is this retail space 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: 1,665 SF retail space in the American Building, constructed in 1936; Existing layout with 9 chairs, 3 shampoo backwash sinks, 2 dryer chairs, and 1 waxing chair; 12‑foot ceilings with natural light
