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    6175 Oh-128 Cleves, OH 45002

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    6175 Oh-128 Cleves, OH 45002

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    Property Details for 6175 Oh-128

    Property type
    Office properties & Spaces
    Property subtype
    Land

    Description

    This exceptional 11.39+/- acre parcel of unzoned land presents a remarkable opportunity for developers seeking a high-visibility location in Hamilton County, Ohio. Situated at 6175 OH-128 in Cleves, this property boasts 200 feet of frontage and is conveniently located near the I-74 @ SR 128 interchange (Exit 7), experiencing a significant daily traffic count of 77,826 vehicles. The property's strategic location offers unparalleled exposure and accessibility. All utilities are available. The land is ideally suited for a variety of commercial developments, including fast food restaurants, convenience stores with gas stations, retail strips, or even a hotel. Its proximity to a new Skyline Chili location further enhances its desirability. The property is identified by APN numbers 630-0020-0035 and 630-0020-0055. This is a rare opportunity to acquire a large, unzoned tract in a high-traffic area of Miamitown/Hamilton County, offering significant potential for substantial returns. The asking price for this exceptional property is $595,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Cleves
    County
    Hamilton
    State
    Ohio
    Longitude
    -84.7113
    Latitude
    39.2079

    Comparable in this City

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      14.50 Acres

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    • Value Estimation by Request
      28.28 Acres

      6029 State Route 128

      Land • 28.28 Acres
      6029 State Route 128, Cleves, OH 45002
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    • Value Estimation by Request
      15.07 Acres

      7849 Harrison Ave

      OFFICE BUILDING • 15.07 Acres
      7849 Harrison Ave, Cleves, OH 45002
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      2.17 Acres

      7950 Morgan Rd

      OFFICE BUILDING • 2.17 Acres
      7950 Morgan Rd, Cleves, OH 45002-9709
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    • Value Estimation by Request
      2,061 SF

      35 State Rd

      MEDICAL BUILDING • 2,061 SF
      35 State Rd, Cleves, OH 45002-1044
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      2.89 Acres

      4065 Hooven Rd

      OFFICE BUILDING • 2.89 Acres
      4065 Hooven Rd, Cleves, OH 45002-9737
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    Similar Nearby for Sale

    • $595,000
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      Unzoned Land Near Interstate I-275

      11.39+/- acres of land with all utilities near I-275.
      6175 State Route 128, Cleves, OH 45002
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      1,800 SF

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    Similar Nearby for Lease

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      Land for Lease Near I-275

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      Office Warehouse and Service Building

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    6175 Oh-128
    Cleves, OH 45002
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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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