7-Unit Apartment
For Sale
$800,000
300 Berry Ave, Bellevue, KY 41073
Historic multifamily property offering six one-bedroom apartments and one studio near Bellevue’s shops, dining, and entertainment.
Property Size5,350 SF
Days on Market12
Property Features for 300 Berry Ave
General Information
Standard status
Active
Size
5,350 SF
Class
B
Property subtype
MultiFamily Apartments
Units
Unit Mix
6 x 1BR, 1 x studio
Multifamily Units
7
Building Details
Building Size
5,350 SF
Year Built
1885
Listing Agency:
RIOsource Group
(937) 206-1925
Listed By:
Douglas Klang
(937) 206-1925
Source:
Thebrokerlist
Added: Aug 21
Changed: Aug 31
Last Checked: Aug 31 at 12:36PM
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 RIOsource Group
Investment Insights
Based on property information with market context.
Built in 1885, this apartment building contains seven residential units arranged as six one-bedroom apartments and one studio. The varied floor plans provide a compact multifamily configuration within a single property, and the building is described as well-maintained.
The property is located at 300 Berry Ave in Bellevue, Kentucky, within a residential setting near local shops, dining, entertainment, and riverfront parks including Bellevue Beach Park. Downtown Cincinnati is described as just minutes away, connecting the property to additional employers, restaurants, and urban amenities.
Bellevue combines a neighborhood environment with nearby commercial and retail activity. The unit mix and location provide clear, property-specific fundamentals for evaluating this multifamily asset.
The property is located at 300 Berry Ave in Bellevue, Kentucky, within a residential setting near local shops, dining, entertainment, and riverfront parks including Bellevue Beach Park. Downtown Cincinnati is described as just minutes away, connecting the property to additional employers, restaurants, and urban amenities.
Bellevue combines a neighborhood environment with nearby commercial and retail activity. The unit mix and location provide clear, property-specific fundamentals for evaluating this multifamily asset.
Key Highlights
- Seven‑unit apartment building at 300 Berry Ave, Bellevue, KY 41073
- Unit mix includes six one‑bedroom apartments and one studio
- Building constructed in 1885
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
$44,440
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
5.56%
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%
$888,800
$888.8K
Cap Rate 7%
$634,857
$634.9K
Cap Rate 9%
$493,778
$493.8K
Market Conditions
NOI Build-Up for 5,350 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
$88.6K $16.56/SF
− Vacancy
−$7.8K −$1.46/SF
EGI
$80.8K $15.10/SF
− OpEx
−$36.4K −$6.80/SF
NOI
$44.4K $8.31/SF
Area
Campbell County, KY
Vacancy
8.80%
Lease Rate
$16.56 /SF/Yr
Expense Ratio
45.00%
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%
$888,800
Cap Rate 7%
$634,857
Cap Rate 9%
$493,778
Alternative Uses
Best Use
Apartment 5plus
$634.9K
$555.5K – $740.7K
NOI $44,440 @ 7.0% cap · market cap 5.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.47M
$1.28M – $1.71M
NOI $102,720 @ 7.0% cap · market cap 12.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
1,117
Businesses Nearby
Explore this area
Business Placement
Demographics for 41073, KY
5,548
Population
2,915
Households
1.9
Avg Household Size
39
Median Age
43%
College-Educated
95%
High-School Grad
0.9 sq mi
ZIP Area
6,164
Density / Sq Mi
$67,143
Median Household Income
$48,250
Median Earnings
$1,124
Median Rent
$186,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Historic multifamily property offering six one-bedroom apartments and one studio near Bellevue’s shops, dining, and entertainment.
Where is this apartment building located?
The property is located at 300 Berry Ave Bellevue, KY.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Seven‑unit apartment building at 300 Berry Ave, Bellevue, KY 41073; Unit mix includes six one‑bedroom apartments and one studio; Building constructed in 1885
