Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    255 Warner St Cincinnati, OH 45219

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Historic Charm, High ROI Potential

    Property Features for 255 Warner St

    General Information

    Property type
    Multifamily properties
    Class
    A

    Building Details

    Year Built/Renovated
    1890/2013
    Buildings
    1
    Stories
    3
    Units
    29

    We can help!

    Listing Contact
    Ali Abdur-Rahman
    Ali Abdur-Rahman

    Listing Agency: Plum Tree Realty Listing Agent: Ali Abdur-Rahman

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Exceptional investment opportunity: The Strafford, a Class A, 29-unit apartment building in Cincinnati, OH. This value-add property, built in 1890 and renovated in 2013, boasts 38,701 net rentable square feet across three stories. Currently operating at 89% occupancy, the property generates a NOI of $355,080, with a current cap rate of 3.23%. A pro-forma analysis projects a NOI of $600,000 and a 5.45% cap rate, reflecting significant upside potential. The asking price is $11,000,000, or $379,310 per unit. The building features a mix of unit sizes, including 4 one-bedroom/one-bathroom units averaging $1,100/month rent, 23 two-bedroom/two-bathroom units averaging $1,595/month rent, and 2 larger units (one 4-bedroom/4-bathroom and one 5-bedroom/5-bathroom) renting for $4,000 and $6,000 per month respectively. Unit sizes range from 525 to 5,227 square feet. All units feature upscale finishes including stainless steel appliances, granite countertops, and original hardwood floors. The building also offers 29 gated parking spaces. Located just blocks from the University of Cincinnati, this property benefits from a strong rental market and the potential for increased rental income. The permitted zoning is Residential/Condos. This is an entity ownership opportunity.
    Property Profile Location Intelligence

    Current Use by Public Records

    Blue Collar Digital Marketing & Advertising The Stratford Apartment Building

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Cincinnati
    County
    Hamilton
    State
    Ohio
    Longitude
    -84.5227825
    Latitude
    39.124592

    Nearby Similar for Sale

    • $439,000
      1,856 SF

      Office Space in Anderson Twp

      Office suite with 8 offices in prime Anderson Township location.
      7655 5 Mile Rd, Anderson Twp, OH 45230
      View Details
    • New
      $185,000
      Pending

      St. Bernard Retail and Office

      Two-story building with retail and office space in St. Bernard.
      4719 Vine St, Cincinnati, OH 45217
      View Details
    • Contact for pricing
      1,820 SF

      Office Space Near Downtown

      Office space for lease with natural light, convenient location.
      347 Stanley Ave, Cincinnati, OH 45226
      View Details
    • New
      $2,650,000
      19,000 SF

      Walnut Hills Mixed-Use Asset

      Mixed-use asset in Walnut Hills shopping district.
      2612 Gilbert Ave, Cincinnati, OH 45206
      View Details
    • New
      Contact for pricing
      1.29 Acres

      Office Spaces in Finneytown

      Three office spaces available for lease in Cincinnati, Ohio.
      779 Reynard Ave, Cincinnati, OH 45231
      View Details
    • $399,000
      3,870 SF

      West End Retail Opportunity

      Former grocery store near TQL Stadium in Cincinnati's West End.
      1715 John St, Cincinnati, OH 45214
      View Details
    • Contact for pricing
      Pending

      Retail Space Across Columbia Square

      Retail space with high visibility and plentiful parking available for sale.
      3540 Columbia Pkwy, Cincinnati, OH 45226
      View Details
    • $699,000
      0.22 Acres

      Mixed-Use Property with Bar Included

      Mixed-use property with bar, apartments, barber shop, and office.
      3095 Glenmore Ave, Cincinnati, OH 45238
      View Details
    • Contact for pricing
      3,315 SF

      Kemper Hill Office Suite

      Office suite in Kemper Hill Office Park available for sale.
      6310 E Kemper Rd, Cincinnati, OH 45241
      View Details
    • Contact for pricing
      Pending

      Bar/Restaurant/Retail Spaces Available

      Second generation bar/restaurant/retail spaces for sale.
      2015 Madison Rd, Cincinnati, OH 45208
      View Details
    • Contact for pricing
      3,860 SF

      Commercial Space Near Convention Center

      Flexible commercial space with potential for multi-tiered hospitality experience.
      126 W 6Th St, Cincinnati, OH 45202
      View Details
    • Contact for pricing
      Pending

      Restaurant/Bar Space on High-Vis Corner

      3,300 SF restaurant/bar with 1,700 SF outdoor patio.
      3538 Columbia Pkwy, Cincinnati, OH 45226
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Historic Charm, High ROI Potential
    Where is this multifamily property located?
    The property is located at 255 Warner St Cincinnati, OH.
    What is the asking price?
    The asking price for this property is $11,000,000.
    What are key features of this property?
    This property features: Class A, 29-unit apartment building in Cincinnati, OH.; $11,000,000 asking price, $379,310 per unit.; 38,701 net rentable square feet, three stories.
    (513) 443-5060 Call to check price and availability
    Request Owner's contact information
    255 Warner St Cincinnati, OH 45219
    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.
    255 Warner St
    Cincinnati, OH 45219
    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
    255 Warner St Cincinnati, OH 45219
    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

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Ali Abdur-Rahman
    Ali Abdur-Rahman
    Real Estate License ID: 2004006274
    (513) 443-5060 (513) 896-1200 (513) 549-5226
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!