Cincinnati Multifamily Investment
For Sale
Contact for pricing
532 Rockdale Ave, Cincinnati, OH 45229
12-unit multifamily property in Cincinnati's Uptown / Avondale rental corridor.
Property Size7,950 SF
Price / SF$144.65
Days on Market98
Property Features for 532 Rockdale Ave
General Information
Standard status
Active
Size
7,950 SF
Class
C
Property subtype
Multifamily
Zoning
R-4
Occupancy
92%
Investment Type
Value Add
Net Operating Income
$50,730
Building Details
Year Built
1955
Year Renovated
2025
Stories
3
Units
12
Tenancy
Multi
Listing Agency:
Verti Commercial Real Estate
(202) 510-2689
Listed By:
Matthew E. Drane · License #SAL.2020000914
Source:
Crexi
Added: May 21
Changed: Aug 8
Last Checked: Jul 22 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 Verti Commercial Real Estate
Investment Insights
Based on property information with market context.
The property at 532 Rockdale Ave, Cincinnati, OH is a 12-unit multifamily asset built in 1955. The property encompasses approximately 7,950 square feet. The unit mix is concentrated in two-bedroom layouts. The property is positioned as a stabilized, income-producing asset with upside through organic rent growth to market. Current occupancy and in-place cash flow provide a stable foundation. The property benefits from its position within Cincinnati's Uptown / Avondale rental corridor, near several of the city's education, healthcare, and lifestyle anchors, including the University of Cincinnati, UC Medical Center, Cincinnati Children's Hospital Medical Center, Xavier University, Cincinnati State, and the Cincinnati Zoo & Botanical Garden. This location creates a broad renter base that can appeal to hospital workers, students, graduate students, university staff, young professionals, and renters who want convenient access to Cincinnati's major employment and entertainment districts. The property is a short drive from downtown Cincinnati, Over-the-Rhine, Findlay Market, Hard Rock Casino Cincinnati, Fountain Square, the riverfront, and Cincinnati's major sports and cultural attractions.
Key Highlights
- Stable, income‑producing asset with in‑place cash flow from day one.
- Measurable upside through organic rent growth to market rates.
- Located in Cincinnati's Uptown / Avondale rental corridor near major education and healthcare anchors.
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
$59,068
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
5.14%
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%
$1,181,360
$1.2M
Cap Rate 7%
$843,829
$843.8K
Cap Rate 9%
$656,311
$656.3K
Market Conditions
NOI Build-Up for 7,950 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
$113.5K $14.28/SF
− Vacancy
−$6.1K −$0.77/SF
EGI
$107.4K $13.51/SF
− OpEx
−$48.3K −$6.08/SF
NOI
$59.1K $7.43/SF
Area
Cincinnati, OH
Vacancy
5.40%
Lease Rate
$14.28 /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%
$1,181,360
Cap Rate 7%
$843,829
Cap Rate 9%
$656,311
Alternative Uses
Best Use
Apartment 5plus
$843.8K
$738.4K – $984.5K
NOI $59,068 @ 7.0% cap · market cap 5.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.58M
$1.38M – $1.84M
NOI $110,624 @ 7.0% cap · market cap 9.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,631
Businesses Nearby
Explore this area
Business Placement
Demographics for 45229, OH
12,540
Population
7,813
Households
1.6
Avg Household Size
37
Median Age
31%
College-Educated
87%
High-School Grad
2.7 sq mi
ZIP Area
4,644
Density / Sq Mi
$30,829
Median Household Income
$25,772
Median Earnings
$831
Median Rent
$316,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - 12-unit multifamily property in Cincinnati's Uptown / Avondale rental corridor.
Where is this apartment building located?
The property is located at 532 Rockdale Ave Cincinnati, OH.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Stable, income‑producing asset with in‑place cash flow from day one.; Measurable upside through organic rent growth to market rates.; Located in Cincinnati's Uptown / Avondale rental corridor near major education and healthcare anchors.
