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    255 5Th St Cincinnati, OH 45202

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    For Lease
    Contact for pricing

    Prime Cincinnati CBD Office Suites Available

    Lot size:
    40,783 SF

    Property Features for 255 5Th St

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    40,783 SF
    Class
    A

    Building Details

    Year Built
    1991

    Spaces For Lease

    at 255 5Th St, Cincinnati, OH 45202 Contact us
    Unit Suite 275

    $14 /Mo

    Size
    5,233 SF
    Contact us
    Unit Suite 1300

    $14 /Mo

    Size
    20,189 SF
    Contact us
    Unit Suite 1410

    $15 /Mo

    Size
    1,969 SF
    Contact us
    Unit Suite 2220

    $15 /Mo

    Size
    4,819 SF
    Contact us
    Unit Suite 2310

    $15 /Mo

    Size
    5,117 SF
    Contact us
    Unit Suite 225

    $14 /Mo

    Size
    3,456 SF
    Contact us
    Show more

    We can help!

    Listing Contact
    Chris Vollmer
    Chris Vollmer

    Listing Agency: CBRE Cincinnati Listing Agent: Chris Vollmer

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

    Learn more

    Property Insight Report

    Overview

    This iconic Class A, 30-story First Financial Center offers unparalleled office space in the heart of Cincinnati's Central Business District. Built in 1991, this prestigious high-rise boasts 553,659 square feet of available space, divisible into units as small as 6,641 square feet and up to a contiguous 20,189 square feet. Multiple tenancy options are available to accommodate various business needs. The building features a convenient onsite parking garage with 1,233 spaces, ensuring ample parking for employees and clients. Enjoy the convenience of onsite amenities including a Bagel Stop Cafe, Curly Girl Coffee shop, and Skyline Chili, eliminating the need to leave the building for meals or refreshments. Professional needs are also met with multiple on-site conference facilities, ranging in size to accommodate groups from 8 to 40 people. This exceptional location and comprehensive amenities make First Financial Center an ideal choice for businesses seeking a prestigious and functional workspace in Cincinnati's vibrant downtown core. The building's impressive presence on the Cincinnati skyline is a testament to its quality and desirability.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Dinsmore & Shohl LLP Law Firm Raymond James Financial ... Financial Advisor Willis Towers Watson Business Management Consultant Constellation Wealth Advisors Financial Advisor Bahl & Gaynor Inc Financial Advisor

    Suggested Use

    Real Estate Agency Spa & Massage Center Dental Office Restaurant Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Cincinnati
    County
    Hamilton
    State
    Ohio
    Longitude
    -84.508178853161
    Latitude
    39.101860635005

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    FAQs

    What type of property is this?
    Office space - Prime Cincinnati CBD Office Suites Available
    Where is this office space located?
    The property is located at 255 5Th St Cincinnati, OH.
    What is the lease rate?
    The lease rate is $14-$15 SF/Yr.
    What are key features of this property?
    This property features: Class A, 30-story office building in downtown Cincinnati's central business district (CBD).; 1,233 parking spaces in an onsite garage.; Multiple suites available, ranging from 1,969 to 20,189 square feet; 553,659 square feet currently vacant.
    (513) 369-1388 Call to check price and availability
    Request Owner's contact information
    255 5Th St Cincinnati, OH 45202
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    Cincinnati, OH 45202
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    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 5Th St Cincinnati, OH 45202
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Chris Vollmer
    Chris Vollmer
    Real Estate License ID: 2008002562
    (513) 369-1388 (513) 369-1311 (513) 533-4400
    Learn more
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