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Property profile & analytics
OFF-MARKET
Estimated value
$1,140,000
Office buildings
1603 Springfield Pike Cincinnati, OH 45215-1460
Entity Owned
23-yr Hold
Free & Clear
Property ID
US66-0962806
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1969
Total area
6,532 SF
Lot
0.37 ac (16,117 SF)
APN
592-0023-0003-00
UPID
US66-0962806
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Fifth Third Securities - Angel Tepe Financial Advisor
-
Fifth Third Private Bank - Margaret Schneider Financial Advisor
-
Fifth Third Securities - Russell Benz Financial Advisor
-
Fifth Third Bank & ATM Bank Loan Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.28M
Comparable Approach
Comparable
$989k
Blend (final)
Blend
$1.14M
Owner & transaction history
Fifth Third Bank · 23 yrs held
Fifth Third Bank
since 2002
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.2M
+72.8%
Restaurant
$1.1M
+56.8%
Medical building
$760,000
+9.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Cincinnati submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cincinnati submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,385,000
6.5%
$1,280,000
7%
$1,190,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$695,000
Current use
AUTO REPAIR, GARAGE
$1,200,000
Change: +73% · Conversion: Difficult
RESTAURANT
$1,085,000
Change: +57% · Conversion: Moderate
MEDICAL BUILDING
$760,000
Change: +9% · Conversion: Easy
Blend value · Realmo final
$1.14M
Range $1.03M – $1.25M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$175 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$16,238
Tax year 2023
Assessed value
$218,889
Assessed 2023
Previous assessed
$252,253
-13.2% YoY
Effective rate
7.42%
On assessed value
Assessed land
$142,082
Assessed improvement
$76,807
Land market value
$405,950
Improvement market value
$219,450
Total market value
$625,400
Applied tax rate
241.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1969
Heating
YES
Stories
2
Rooms
9
Total area
6,532 SF
Lot
0.37 ac (16,117 SF)
APN
592-0023-0003-00
UPID
US66-0962806
Jurisdiction
HAMILTON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$695,000
AUTO REPAIR, GARAGE
Est. value
$1.2M
RESTAURANT
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$760,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RESTAURANT
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1969
Heating
YES
Stories
2
Rooms
9
Lot
0.37 ac
Current owner
From public records · entity-resolved
Fifth Third Bank
Entity
Free & Clear · 23 yrs held
Mailing address
38 FOUNTAIN SQ PLZ, CINCINNATI, OH 45202-3102
Ownership since
2002
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 19, 2002
$740,000
Fifth Third Bank
Western & Southern Life Ins Co
Grant Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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