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    948 Old State Route 74 Batavia, OH 45103

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    948 Old State Route 74 Batavia, OH 45103

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    • Neighborhood centers
    • 20,520 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Paradise Detox Center Advisors / Counselor

    Property Details for 948 Old State Route 74

    Property size
    20,520 SF
    Property type
    Neighborhood centers
    Property subtype
    Retail properties & Spaces

    Description

    Glen Este Center, a thriving retail strip center in Batavia, Ohio, offers a prime 1,200 square foot retail space for lease. Located on Old State Route 74, this center enjoys high visibility with over 4,000 vehicles passing daily. Its convenient location provides easy access to I-275 and US 32, placing your business within reach of Cincinnati's east side and the vibrant Batavia community. The center already houses a diverse mix of established tenants, including financial services, insurance, and a bakery, creating a synergistic environment. Ample parking is available for customers, along with pylon signage opportunities to enhance your brand visibility. This property benefits from its proximity to major retail destinations like Eastgate Mall and recreational areas such as Union Township Veterans Memorial Park, ensuring a steady flow of potential customers. The landlord maintains a strict no-competition policy among tenants, ensuring a unique and supportive business environment. The available space is part of a larger 20,520 square foot building. This is a rare opportunity to establish your business in a bustling commercial district with excellent accessibility and a strong existing tenant base. Don't miss this chance to become part of Glen Este Center's thriving community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Batavia
    County
    Clermont
    State
    Ohio
    Longitude
    -84.263
    Latitude
    39.1014

    Comparable in this City

    • Value Estimation
      $705,000
      16,526 SF

      499 Main St

      SHOPPING CENTER, STRIP CENTER • 16,526 SF
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    • Value Estimation
      $1,105,000
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      2700 Old State Rte 32

      SHOPPING CENTER, STRIP CENTER • 9,060 SF
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    • Value Estimation
      $1,105,000
      8,692 SF

      978 Old State Rte 74

      SHOPPING CENTER, STRIP CENTER • 8,692 SF
      978 Old State Rte 74, Batavia, OH 45103-2343
      View Details
    • Value Estimation
      $795,000
      8,700 SF

      1246 Old State Rte 74

      SHOPPING CENTER, STRIP CENTER • 8,700 SF
      1246 Old State Rte 74, Batavia, OH 45103-2013
      View Details
    • Value Estimation
      $5,685,000
      54,789 SF

      Gleneste Withamsville Rd

      SHOPPING CENTER, STRIP CENTER • 54,789 SF
      Gleneste Withamsville Rd, Batavia, OH 45103
      View Details
    • Value Estimation
      $760,000
      7,024 SF

      2234 Bauer Rd

      SHOPPING CENTER, STRIP CENTER • 7,024 SF
      2234 Bauer Rd, Batavia, OH 45103-1996
      View Details

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    Batavia, OH 45103
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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
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