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    1045 New Richmond Ohio New Richmond, OH 45157
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    Property profile & analytics

    1045 New Richmond Ohio, New Richmond, OH 45157

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    • Specialty properties
    • 2,306 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 1045 New Richmond Ohio

    Year built
    2002
    Property type
    Specialty properties
    Property subtype
    Car washes

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    New Richmond
    County
    Clermont
    State
    Ohio
    Longitude
    -84.3009
    Latitude
    39.0079

    Comparable in this City

    • Value Estimation by Request
      1,680 SF

      Western Ave

      FUNERAL HOME
      Western Ave, New Richmond, OH 45157
      View Details
    • Value Estimation by Request
      1,366 SF

      111 George St

      CHARITABLE ORGANIZATION
      111 George St, New Richmond, OH 45157-1218
      View Details
    • Value Estimation by Request
      1,980 SF

      550 Washington St

      CHARITABLE ORGANIZATION
      550 Washington St, New Richmond, OH 45157-1260
      View Details
    • Value Estimation by Request
      3,741 SF

      311 Caroline St

      PROFESSIONAL CLUBS/ASSOCIATIONS
      311 Caroline St, New Richmond, OH 45157-1211
      View Details
    • Value Estimation by Request
      6,144 SF

      213 Un St

      PROFESSIONAL CLUBS/ASSOCIATIONS
      213 Un St, New Richmond, OH 45157-1343
      View Details
    • Value Estimation by Request
      1,366 SF

      111 George St

      CHARITABLE ORGANIZATION
      111 George St, New Richmond, OH 45157-1218
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,306 SF

      Established Car Wash in New Richmond

      Well-located car wash with redevelopment potential in New Richmond, Ohio.
      1045 New Richmond, New Richmond, OH 45157
      View Details
    • Contact for pricing
      1,350 SF

      Elmwood Place Restaurant Opportunity

      Remodeled restaurant building with frontage and ample parking.
      410 Walnut St, Elmwood Place, OH 45157
      View Details
    • Contact for pricing

      Land for Sale Near US-52

      1.0623 acre commercial land with high visibility and traffic.
      Us Rte 52, New Richmond, OH 45157
      View Details
    • $225,000
      5.00 Acres

      Residential Land in Premier Community

      5-acre lot for custom home in Pierce Twp, Ohio.
      1 Merwin Farms Ln, New Richmond, OH 45157
      View Details
    • $550,000
      20.64 Acres

      20.64 Acres in Monroe Twp

      20.64 acres of land with mature woods and trails.
      Buckler Rd, Monroe Twp, OH 45157
      View Details
    • Contact for pricing
      5,412 SF

      Mixed-Use Building on Market Street

      5,412 sq. ft. mixed-use building with commercial and residential units.
      203-203 Market St, New Richmond, OH 45157
      View Details
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    1045 New Richmond Ohio
    New Richmond, OH 45157
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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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    1045 New Richmond Ohio, New Richmond, OH, 45157
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