Salon & Spa Property with
For Sale
Contact for pricing
3504 Harrison Ave, Cincinnati, OH 45211
Updated interiors and multiple work areas complement a private outdoor courtyard in a flexible commercial configuration.
Property Size1,776 SF
Price / SF$126.69
Days on Market8
Property Features for 3504 Harrison Ave
General Information
Standard status
Active
Size
1,776 SF
Property subtype
RETAIL
Amenities
updated interior finishes
multiple workspaces
abundant natural light
private outdoor courtyard/patio area
Listing Agency:
Coldwell Banker Realty | Ohio Indiana West Regional
(513) 237-1824
Listed By:
Rick Louallen · License #0000365995
(513) 237-1824
Source:
Moodyscre
Added: Aug 4
Changed: Aug 9
Last Checked: Aug 11 at 5:13AM
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 | Ohio Indiana West Regional
Investment Insights
Based on property information with market context.
This 1,776-square-foot commercial property is currently arranged for salon and spa operations, with an adaptable interior that includes multiple work areas. Updated finishes and abundant natural light contribute to the existing workspace, while a private outdoor courtyard or patio extends the usable area beyond the main interior.
Located at 3504 Harrison Ave in Cincinnati, Ohio, the property is positioned within Harrison’s business district. The configuration is identified as suitable for retail, office, wellness, professional service, and specialty business applications, providing flexibility for an operator seeking a finished commercial setting.
Located at 3504 Harrison Ave in Cincinnati, Ohio, the property is positioned within Harrison’s business district. The configuration is identified as suitable for retail, office, wellness, professional service, and specialty business applications, providing flexibility for an operator seeking a finished commercial setting.
Key Highlights
- 1,776‑square‑foot commercial property
- Currently configured for salon and spa operations
- Updated interior finishes with multiple work areas
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
$18,230
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
8.10%
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%
$364,600
$364.6K
Cap Rate 7%
$260,429
$260.4K
Cap Rate 9%
$202,556
$202.6K
Market Conditions
NOI Build-Up for 1,776 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
$27.7K $15.60/SF
− Vacancy
−$1.7K −$0.94/SF
EGI
$26.0K $14.66/SF
− OpEx
−$7.8K −$4.40/SF
NOI
$18.2K $10.26/SF
Area
ZIP 45211
Vacancy
6.00%
Lease Rate
$15.60 /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%
$364,600
Cap Rate 7%
$260,429
Cap Rate 9%
$202,556
Alternative Uses
Best Use
Office B
$300.8K
$263.2K – $351.0K
NOI $21,059 @ 7.0% cap · market cap 9.36%
Second Best
Retail
$260.4K
$227.9K – $303.8K
NOI $18,230 @ 7.0% cap · market cap 8.10%
Theoretical Best
Office A
$353.0K
$308.9K – $411.9K
NOI $24,713 @ 7.0% cap · market cap 10.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
244
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 45211, OH
37,868
Population
17,169
Households
2.2
Avg Household Size
37
Median Age
29%
College-Educated
89%
High-School Grad
9.0 sq mi
ZIP Area
4,208
Density / Sq Mi
$54,582
Median Household Income
$39,788
Median Earnings
$915
Median Rent
$156,600
Median Home Value
Market
Vacancy Rate% for Office in Cincinnati, OH
Questions? Ask Rey
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Similar Off Market Nearby
- The Pain Relief & Healing Center — 3347 Harrison Ave, Cheviot, OH 45211
Frequently Asked Questions
What type of property is this?
Spa & wellness property - Updated interiors and multiple work areas complement a private outdoor courtyard in a flexible commercial configuration.
Where is this spa & wellness property located?
The property is located at 3504 Harrison Ave Cincinnati, OH.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 1,776‑square‑foot commercial property; Currently configured for salon and spa operations; Updated interior finishes with multiple work areas
