Brick Office
For Sale
$499,000
3510 Glenmore Avenue, Cheviot, OH 45211
Commercial Sale, Cheviot, OH
Property Size3,013 SF
Lot Size0.51 Acres
Price / SF$165.62
Days on Market92
Property Features for 3510 Glenmore Avenue
General Information
Property type
Residential
Property subtype
Office
Interior features
Smoke Detector
Exterior features
Sidewalks
Directions
From I-74 take the Montana Ave exit. Head up the hill and Montana will run into Glenmore Ave. Take a right and the building is a few blocks away.
Subdivision
Hamilton-W04
Standard status
Active
APN
551-0010-0102-00
Size
3,013 SF
Lot size
0.51 Acres
Utilities
Heating system
Forced Air
Building Details
Year built
1900
Flooring type
Carpet
Building materials
Brick
Roof type
Shingle
Listing Agency:
Plum Tree Realty
(513) 443-5060
Listed By:
Paul Klug
(513) 378-4663
Added: Jun 2
Changed: Aug 22
Last Checked: Sep 1 at 7:06PM
MLS# 1881515
Copyright © 2026 MLS of Greater Cincinnati, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1900, this brick office property provides 3,013 square feet across two levels. The first floor includes a reception area, waiting room, three offices, a kitchenette, and a half bath. Four additional offices and two half baths occupy the second floor. A full basement and attic provide supplemental storage, while carpeted interiors, forced-air heating, smoke detectors, and a shingle roof complete the existing improvements.
The building occupies 0.505 acres at 3510 Glenmore Avenue in Cheviot, Ohio. Eighteen off-street parking spaces serve the property, with sidewalks along the site. Its prior use for medical, professional, and legal offices supports continued office-oriented occupancy.
The building occupies 0.505 acres at 3510 Glenmore Avenue in Cheviot, Ohio. Eighteen off-street parking spaces serve the property, with sidewalks along the site. Its prior use for medical, professional, and legal offices supports continued office-oriented occupancy.
Key Highlights
- 3,013‑square‑foot office building constructed in 1900
- Two‑story layout with 7 offices, reception area, waiting room, kitchenette, and 3 half baths
- Full basement and attic provide additional storage
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
$35,925
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
7.20%
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%
$718,500
$718.5K
Cap Rate 7%
$513,214
$513.2K
Cap Rate 9%
$399,167
$399.2K
Market Conditions
NOI Build-Up for 3,013 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
$65.1K $21.60/SF
− Vacancy
−$5.2K −$1.73/SF
EGI
$59.9K $19.87/SF
− OpEx
−$23.9K −$7.95/SF
NOI
$35.9K $11.92/SF
Area
ZIP 45211
Vacancy
8.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
40.00%
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%
$718,500
Cap Rate 7%
$513,214
Cap Rate 9%
$399,167
Alternative Uses
Best Use
Healthcare Medical
$513.2K
$449.1K – $598.8K
NOI $35,925 @ 7.0% cap · market cap 7.20%
Second Best
Office B
$510.4K
$446.6K – $595.5K
NOI $35,727 @ 7.0% cap · market cap 7.16%
Theoretical Best
Office A
$598.9K
$524.1K – $698.8K
NOI $41,926 @ 7.0% cap · market cap 8.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
576
Businesses Nearby
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 Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two-level professional office property with private rooms, reception space, storage, and dedicated off-street parking.
Where is this office building located?
The property is located at 3510 Glenmore Avenue Cheviot, OH.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 3,013‑square‑foot office building constructed in 1900; Two‑story layout with 7 offices, reception area, waiting room, kitchenette, and 3 half baths; Full basement and attic provide additional storage
