Historic Two-Story Office
New
For Sale
Contact for pricing
3734 Eastern Ave, Cincinnati, OH 45226
Updated professional interiors support small businesses and professional services uses.
Property Size4,800 SF
Price / SF$225
Days on Market5
Property Features for 3734 Eastern Ave
General Information
Standard status
Active
Size
4,800 SF
Total Parking Spaces
15
Property subtype
OFFICE
Additional Details
Asking Price
$1,080,000
Building Details
Year Built
1930
Buildings
1
Stories
2
Building Size
4,800 SF
Listing Agency:
JLL | Cincinnati
(513) 297-2507
Listed By:
Sean Mangialardo · License #SAL.2026001042
(513) 297-2507
Source:
Moodyscre
Added: Aug 5
Changed: Aug 9
Last Checked: Aug 9 at 9:05AM
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 JLL | Cincinnati
Investment Insights
Based on property information with market context.
This two-story office building contains 4,800 square feet and was built in 1930. The property combines historic character with a professionally designed interior and multiple updates, creating a distinctive setting for small businesses and professional services firms.
Located at 3734 Eastern Ave in Cincinnati, the building includes 15 surface parking spaces. Its position in Cincinnati’s East Corridor places the office asset within an established community setting with walkable access to area amenities.
Located at 3734 Eastern Ave in Cincinnati, the building includes 15 surface parking spaces. Its position in Cincinnati’s East Corridor places the office asset within an established community setting with walkable access to area amenities.
Key Highlights
- 4,800 SF two‑story office building
- Built in 1930 with historic character
- 15 surface parking spaces
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
$57,288
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
5.30%
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%
$1,145,760
$1.1M
Cap Rate 7%
$818,400
$818.4K
Cap Rate 9%
$636,533
$636.5K
Market Conditions
NOI Build-Up for 4,800 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
$99.1K $20.64/SF
− Vacancy
−$22.7K −$4.73/SF
EGI
$76.4K $15.91/SF
− OpEx
−$19.1K −$3.98/SF
NOI
$57.3K $11.94/SF
Area
Cincinnati, OH
Vacancy
22.90%
Lease Rate
$20.64 /SF/Yr
Expense Ratio
25.00%
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%
$1,145,760
Cap Rate 7%
$818,400
Cap Rate 9%
$636,533
Alternative Uses
Best Use
Office B
$818.4K
$716.1K – $954.8K
NOI $57,288 @ 7.0% cap · market cap 5.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$954.2K
$834.9K – $1.11M
NOI $66,792 @ 7.0% cap · market cap 6.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
527
Businesses Nearby
Explore this area
Business Placement
Demographics for 45226, OH
5,687
Population
3,272
Households
1.7
Avg Household Size
36
Median Age
73%
College-Educated
98%
High-School Grad
5.7 sq mi
ZIP Area
998
Density / Sq Mi
$100,320
Median Household Income
$59,639
Median Earnings
$1,244
Median Rent
$387,200
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?
Office building - Updated professional interiors support small businesses and professional services uses.
Where is this office building located?
The property is located at 3734 Eastern Ave Cincinnati, OH.
What is the asking price?
The asking price for this property is $1,080,000.
What are key features of this property?
This property features: 4,800 SF two‑story office building; Built in 1930 with historic character; 15 surface parking spaces
