Multifamily Apartment
For Sale
Contact for pricing
800 Elberon Avenue, Cincinnati, OH 45205
Built in 1959, this Cincinnati asset sits near downtown, employment centers, retail, dining, and major transportation corridors.
Property Size52,425 SF
Price / SF$97.28
Days on Market107
Property Features for 800 Elberon Avenue
General Information
Standard status
Active
Size
52,425 SF
Class
B
Property subtype
Multifamily
Net Operating Income
$364,974
Building Details
Year Built
1959
Units
74
Listing Agency:
3CRE Columbus
(513) 745-9333
Listed By:
Tryfon Christoforou · License #OH SAL.2014001869
Source:
Crexi
Added: May 18
Changed: Aug 30
Last Checked: Sep 1 at 4:40AM
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 Columbus
Investment Insights
Based on property information with market context.
Located at 800 Elberon Avenue in Cincinnati, Ohio, this apartment property was built in 1959 and has a stated property size of 52,425. The asset is positioned in the established area associated with East Price Hill and the Incline District.
The surrounding context includes access to downtown Cincinnati, major employment centers, retail, dining, and key transportation corridors. The setting combines neighborhood-oriented surroundings with connections to urban amenities and employment destinations.
The surrounding context includes access to downtown Cincinnati, major employment centers, retail, dining, and key transportation corridors. The setting combines neighborhood-oriented surroundings with connections to urban amenities and employment destinations.
Key Highlights
- 52,425 property size
- Built in 1959
- 800 Elberon Avenue, Cincinnati, OH 45205
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
$389,512
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
7.64%
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%
$7,790,240
$7.8M
Cap Rate 7%
$5,564,457
$5.6M
Cap Rate 9%
$4,327,911
$4.3M
Market Conditions
NOI Build-Up for 52,425 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
$748.6K $14.28/SF
− Vacancy
−$40.4K −$0.77/SF
EGI
$708.2K $13.51/SF
− OpEx
−$318.7K −$6.08/SF
NOI
$389.5K $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%
$7,790,240
Cap Rate 7%
$5,564,457
Cap Rate 9%
$4,327,911
Alternative Uses
Best Use
Apartment 5plus
$5.56M
$4.87M – $6.49M
NOI $389,512 @ 7.0% cap · market cap 7.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.42M
$9.12M – $12.16M
NOI $729,494 @ 7.0% cap · market cap 14.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
519
Businesses Nearby
Explore this area
Business Placement
Demographics for 45205, OH
19,517
Population
7,874
Households
2.5
Avg Household Size
31
Median Age
17%
College-Educated
82%
High-School Grad
2.8 sq mi
ZIP Area
6,970
Density / Sq Mi
$41,357
Median Household Income
$32,537
Median Earnings
$855
Median Rent
$112,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Built in 1959, this Cincinnati asset sits near downtown, employment centers, retail, dining, and major transportation corridors.
Where is this apartment building located?
The property is located at 800 Elberon Avenue Cincinnati, OH.
What is the asking price?
The asking price for this property is $5,100,000.
What are key features of this property?
This property features: 52,425 property size; Built in 1959; 800 Elberon Avenue, Cincinnati, OH 45205
