Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2055 Reading Rd Cincinnati, OH 45202

    • Office buildings
    • 32,816 SF
    • 2.02 lot acres
    For Lease
    View listing
    $15 SF/Yr
    Last Sale
    Feb 07, 2023
    $3,165,000
    Value Estimations
    $3,210,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-0415738
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Jeffrey Raub / Pediatrician / Medical Clinic
    • Pro Flooring Installers Cincinnati / General Contractor / Renovation Specialist
    • the 1441 group / Consultant
    • Becker & Beggs Ltd / Business Broker
    • David B. Schwartz, MD, LLC / Physician

    Property Details for 2055 Reading Rd

    Year built
    1900
    Lot size
    2.02 lot acres
    Property size
    32,816 SF
    Property type
    Office buildings
    APN
    090-0003-0109-00
    APU
    900003010900

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,250,000
      ML approach
      $3,260,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,046,000
      Market price range: $2.29M - $9.71M
      AI Estimate
      $2,948,000
      Market price range: $1.11M - $6.40M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $4,310,000
      Current use
      COMMERCIAL (GENERAL)
      $4,290,000
      Change: -1% Conversion: Easy
      MEDICAL BUILDING
      $3,810,000
      Change: -12% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Cincinnati
    County
    Hamilton
    State
    Ohio
    Longitude
    -84.5007
    Latitude
    39.1197
    CBSA code
    17140
    CBSA name
    CINCINNATI-MIDDLETOWN, OH-KY-IN METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $89,594
    $75,341
    $1,014,839
    $1,090,180
    -
    $215,260
    $2,899,540
    $3,114,800

    Comparable in this City

    • Value Estimation by Request
      1.91 Acres

      301 6th St

      OFFICE BUILDING (MULTI-STORY) • 1.91 Acres
      301 6th St, Cincinnati, OH 45202-3307
      View Details
    • Value Estimation by Request

      191 Rosa Park St

      OFFICE BUILDING (MULTI-STORY)
      191 Rosa Park St, Cincinnati, OH 45202-2573
      View Details
    • Value Estimation
      $520,000
      0.59 Acres

      303 Broadway St

      OFFICE BUILDING (MULTI-STORY) • 0.59 Acres
      303 Broadway St, Cincinnati, OH 45202-4203
      View Details
    • Value Estimation by Request
      2,562 SF

      1140 Saint Gregory St

      OFFICE BUILDING • 2,562 SF
      1140 Saint Gregory St, Cincinnati, OH 45202-1724
      View Details
    • Value Estimation
      $5,355,000
      30,099 SF

      720 Pete Rose Way

      OFFICE BUILDING (MULTI-STORY) • 30,099 SF
      720 Pete Rose Way, Cincinnati, OH 45202-3579
      View Details
    • Value Estimation by Request
      816 SF

      810 Sycamore St

      OFFICE BUILDING (MULTI-STORY) • 816 SF
      810 Sycamore St, Cincinnati, OH 45202-2155
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Creative Office Building in OTR

      23,548 SF creative building in vibrant Over-the-Rhine.
      212 E 14Th St, Cincinnati, OH 45202
      View Details
    • Contact for pricing
      68,552 SF

      Four-Story Office Building with Elevator

      Charming office building with conversion potential in Cincinnati's CBD.
      626-644 Main St, Cincinnati, OH 45202
      View Details
    • Contact for pricing

      Downtown Cincinnati Office Building

      Office building near stadium and City Hall in downtown Cincinnati.
      895 Central Ave, Cincinnati, OH 45202
      View Details
    • $1,500,000
      10,420 SF

      Mixed-Use Building in Downtown Cincinnati

      Multi-level mixed-use building in the heart of Downtown Cincinnati.
      6 W 4Th St, Cincinnati, OH 45202
      View Details
    • $1,350,000
      17,805 SF

      Downtown Cincinnati Mixed-Use Gem

      Prime location, 17,805 SF, vacant, $1.35M
      112 3Rd St, Cincinnati, OH 45202
      View Details
    • $399,000

      Turn-Key Hair Salon in OTR

      Hair salon with excellent visibility and accessibility in Over-the-Rhine.
      30 E Central Pkwy, Cincinnati, OH 45202
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      202,897 SF

      Downtown Cincinnati Office Space Available

      537,400 SF workplace destination in the heart of Cincinnati.
      250 East 5Th St, 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
    • $8 SF/Yr
      1,214 SF

      Downtown Office Building with Riverfront Views

      Highly visible office building with renovated lobby and panoramic views.
      311 Elm St, Cincinnati, OH 45202
      View Details
    • Contact for pricing
      10,000 SF

      Downtown Cincinnati Office Building

      Office building for rent in downtown Cincinnati.
      1008 Race St, Cincinnati, OH 45202
      View Details
    • $12 SF/Yr
      16,400 SF

      Downtown Cincinnati Office Space Available

      16,400 SF office building in the heart of downtown Cincinnati.
      114 E 8Th St, Cincinnati, OH 45202
      View Details
    • Contact for pricing
      1,994 SF

      Office Building with Prime Accessibility

      12-story office building with on-site amenities and excellent highway access.
      625 Eden Park Dr, Cincinnati, OH 45202
      View Details
    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.
    2055 Reading Rd
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!