Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    23 Court St Cincinnati, OH 45202
    Back to Search
    Property profile & analytics

    23 Court St, Cincinnati, OH 45202

    View on Map
    • Retail properties & Spaces
    • 22,000 SF
    For Lease
    View Listing →
    23 West Court Street: Office Suites For Lease
    Contact for pricing

    23 West Court Street: Office Suites

    Historic Downtown Cincinnati Office Space

    23 Court St, Cincinnati, OH 45202
    View Listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Cincinnati Toy Heritage Mural / Painting

    Property Details for 23 Court St

    Property type
    Retail properties & Spaces
    Property subtype
    Office Spaces

    Description

    This exceptional 22,000 square foot building in Cincinnati's Historic District offers prime retail and office space. Currently fully vacant, it's undergoing a complete renovation to create a modern, creative environment while preserving its historical character. The ground floor provides 5,500 square feet of retail space, while floors two through four each offer 5,500 square feet of open-concept office space, divisible into units as small as 5,500 square feet and up to a contiguous 16,500 square feet. The building features elevator access to all floors, including a basement and a rooftop offering stunning city views. Its central location provides easy access to the Central Business District, Over-the-Rhine, major cultural venues, and convenient public transportation, including the Cincinnati Bell Connector, Metro, and Redbike stations. Ample nearby parking is also available. This is a unique opportunity to lease space in a beautifully renovated historic building with modern amenities in a highly desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Cincinnati
    County
    Butler
    State
    Ohio
    Longitude
    -84.5151
    Latitude
    39.1059

    Comparable in this City

    • Value Estimation by Request
      72,640 SF

      101 5Th St

      Office Units
      101 5Th St, Cincinnati, OH 45202
      View Details
    • Value Estimation by Request
      6,416 SF

      1708 Logan St

      Office Units
      1708 Logan St, Cincinnati, OH 45202
      View Details
    • Value Estimation by Request
      50,519 SF

      110 Shillito Pl

      Office Units
      110 Shillito Pl, Cincinnati, OH 45202
      View Details
    • Value Estimation by Request
      6,257 SF

      425 Sycamore St

      Restaurants
      425 Sycamore St, Cincinnati, OH 45202
      View Details
    • Value Estimation by Request

      39 Court St

      Individual retail properties
      39 Court St, Cincinnati, OH 45202
      View Details
    • Value Estimation by Request
      97,103 SF

      19 Garfield Pl

      Office Units
      19 Garfield Pl, Cincinnati, OH 45202
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,096 SF

      Updated Commercial Building Near Pendleton

      Turnkey commercial building between OTR and Historic Pendleton District.
      1210 Sycamore St, Cincinnati, OH 45202
      View Details
    • Contact for pricing
      8,000 SF

      Office and Retail Flex Space

      Office and retail flex spaces available for lease.
      123-127 E 4Th St, Cincinnati, OH 45202
      View Details
    • Contact for pricing
      20,000 SF

      Historic Over-the-Rhine Industrial Warehouse

      Historic industrial warehouse in vibrant Over-the-Rhine neighborhood.
      2025 Elm St, Cincinnati, OH 45202
      View Details
    • Contact for pricing
      3,342 SF

      Move-In Ready Office/Medical Suites

      Renovated office and medical suites with on-site parking and loading.
      2060 Reading Rd, Cincinnati, OH 45202
      View Details
    • Contact for pricing
      2,159 SF

      Office Space Available For Rent

      Office space available for rent at 1409 Elm St.
      1409 Elm St, Cincinnati, OH 45202
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      22,000 SF

      23 West Court Street: Office Suites

      Historic Downtown Cincinnati Office Space
      23 Court St, Cincinnati, OH 45202
      View Details
    • Contact for pricing

      110 Shillito Place, Cincinnati

      Office and retail spaces available for rent in Cincinnati.
      110 Shillito Pl, Cincinnati, OH 45202
      View Details
    • Contact for pricing
      2,675 SF

      Downtown Cincinnati Office with Retail

      Ten-story office building with first floor retail space available.
      125 E Court St, Cincinnati, OH 45202
      View Details
    • $22 SF/Yr
      3,700 SF

      Retail/Office Space in Midtown Cincinnati

      3700 SF retail/office space at Court & Walnut, Cincinnati.
      39 E Court St, Cincinnati, OH 45202
      View Details
    • Contact for pricing

      Office and Retail Space Available

      Flexible office and retail spaces with direct entry and parking.
      1607 Mansfield St, Cincinnati, OH 45202
      View Details
    • Contact for pricing
      7,157 SF

      Downtown Cincinnati Mixed-Use Space

      Office and retail spaces available in Cincinnati's Backstage District.
      700 Walnut St, Cincinnati, OH 45202
      View Details
    View Listing
    Request Owner's contact information
    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.
    23 Court St
    Cincinnati, OH 45202
    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
    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

    Thank You for Inquiry
    23 Court St, Cincinnati, OH, 45202
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!