Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Multifamily Investment Opportunity in Cincinnati Title is generated by Realmo AI

    5206 Montgomery Road, Norwood, OH 45212

    View on Map
    Claim this Listing
    For Sale
    $575,000

    9-unit multifamily property with renovated units and upside potential.

    Type:Multifamily
    Property size:
    4,070 SF
    Price / SF:
    $141/SF
    Added:
    Jan 27, 2026
    Days on Market:
    125
    Last Refresh:
    Apr 5 at 8:10 pm

    Property Features for 5206 Montgomery Road

    General Information

    Standard status
    Active
    Size
    4,070 SF
    Property subtype
    Multifamily

    We can help!

    Listing Contact
    Tryfon Christoforou
    Tryfon Christoforou

    Listing agent Tryfon Christoforou License #SAL.2014001869

    Listing office 3CRE Advisors, LLC - corporate

    Listing date Jan 27, 2026

    Source 3cre

    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 3CRE Advisors, LLC - corporate

    HighLights

    • Prime location on Montgomery Road corridor with excellent accessibility to I‑71, downtown Cincinnati, Norwood, and employment centers.
    • Mix of market‑rate and subsidized tenants provides stable income with upside potential.
    • Four fully renovated units enhance property value and appeal.
    • Separately metered electric and gas for each unit reduces owner expenses.
    • Proximity to grocery stores, restaurants, retail, and public transportation increases tenant desirability.
    • Well‑positioned in a highly traveled and desirable area connecting established neighborhoods.

    Overview

    This multifamily investment opportunity is located at 5206 Montgomery Road, Cincinnati, OH. The property features 9 units with a mix of market-rate and subsidized tenants. Four units have been fully renovated. Two units include partially subsidized rents, providing a balance of upside potential and stable income. Each unit is separately metered for electric and gas, allowing for efficient utility management. The property is positioned along the Montgomery Road corridor, connecting Cincinnati’s established neighborhoods. The location offers accessibility to I-71, downtown Cincinnati, Norwood, and surrounding employment centers. Residents benefit from nearby grocery stores, restaurants, retail options, and public transportation.

    Local Financial Insights For Apartment 5plus

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $67.9k $16.68
    − Vacancy −$4.0k −$0.98
    EGI $63.9k $15.70
    − OpEx −$28.7k −$7.06
    NOI $35.1k $8.63
    4,070 SF · lease $16.68/SF/yr · vacancy 5.90% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $501.9K
    $439.2K – $585.6K (±1% cap)
    NOI $35,135 @ 7.0% cap · market cap 6.11%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $729.7K
    $638.5K – $851.3K (±1% cap)
    NOI $51,077 @ 7.0% cap · market cap 8.88%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Norwood
    County
    Hamilton
    State
    Ohio
    Longitude
    -84.4518
    Latitude
    39.1636

    Nearby Similar for Sale

    • $549,900
      4,397 SF

      Norwood Triplex Near Rookwood Pavilion

      Well-maintained triplex with strong income potential near Rookwood Pavilion.
      2541 Melrose Avenue, Norwood, OH 45212
      View Details
    • $575,000
      2,942 SF

      Renovated Norwood Four-Unit Investment Property

      Fully renovated four-unit property in Norwood with strong income potential.
      2033 Maple Avenue, Norwood, OH 45212
      View Details
    • $329,000
      2,231 SF

      Norwood Multifamily Property with Conversion Potential

      Two-story multifamily property in Norwood, suitable for investors or owner-occupants.
      1829 Lincoln Avenue, Norwood, OH 45212
      View Details
    • $359,900
      2,676 SF

      Norwood Multifamily Property with Upside

      Norwood duplex with income potential and flexible leasing terms.
      2421 Hudson Avenue, Norwood, OH 45212
      View Details
    • $375,000
      2,530 SF

      Norwood Multifamily Investment Opportunity

      Two-unit property in Norwood with recent renovations and updates.
      2310 Buxton Avenue, Norwood, OH 45212
      View Details
    • $299,000
      1,838 SF

      Renovated Duplex in Norwood, Ohio

      Turnkey investment opportunity: renovated duplex with strong rental history.
      1817 Sherman Avenue, Norwood, OH 45212
      View Details
    • $265,000
      1,716 SF

      Norwood Two-Family Investment Opportunity

      Two-family property in Norwood, Ohio, with separate utilities and garage.
      2109 Wayne, Norwood, OH 45212
      View Details
    • $400,000
      3,915 SF

      Updated Triplex in Norwood, Ohio

      Turnkey triplex with updated units and reliable tenants.
      2018 Elm Avenue, Norwood, OH 45212
      View Details
    • $230,000
      1,701 SF

      Norwood Duplex Investment Opportunity

      Duplex in Norwood with rental income potential.
      2446 Duck Creek Road, Norwood, OH 45212
      View Details
    • $209,900
      3,565 SF

      Norwood Multifamily Investment Opportunity

      Multifamily property in Norwood, sold as-is. Investor opportunity.
      3956 Hazel Avenue, Norwood, OH 45212
      View Details
    • $1,150,000

      Central Cincinnati Location Office Building

      Office building in central Cincinnati with unique architectural features.
      2216 Norwood Ave, Norwood, OH
      View Details
    • $220,000

      Norwood Multifamily Investment Opportunity

      Multifamily property in Norwood, sold as-is. Investor opportunity.
      4308 Carter Avenue, Norwood, OH 45212
      View Details

    FAQs

    What type of property is this?
    Apartment building - 9-unit multifamily property with renovated units and upside potential.
    Where is this apartment building located?
    The property is located at 5206 Montgomery Road Norwood, OH.
    What is the asking price?
    The asking price for this property is $575,000.
    What are key features of this property?
    This property features: Prime location on Montgomery Road corridor with excellent accessibility to I‑71, downtown Cincinnati, Norwood, and employment centers.; Mix of market‑rate and subsidized tenants provides stable income with upside potential.; **Four fully renovated units enhance property value and appeal.**
    (513) 745-9333
    We can help!
    Listing Contact
    Tryfon Christoforou
    Tryfon Christoforou
    Real Estate License ID: SAL.2014001869
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    5206 Montgomery Road, Norwood, OH 45212
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!