Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    241 Mcmillan St Cincinnati, OH 45219-1238

    • Retail space
    • 1,600 SF
    • 0.06 lot acres
    OFF-MARKET
    Value Estimations
    $245,000
    Show details
    Cap Rate Potential
    7.2%
    Retail space
    Location Intelligence
    Property ID
    US66-6050586
    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

    • Campus Cyclery / Bicycle Shop / Bicycle Repair Shop

    Property Details for 241 Mcmillan St

    Year built
    1890
    Lot size
    0.06 lot acres
    Property size
    1,600 SF
    Property type
    Retail space
    APN
    100-0002-0070-00
    APU
    1000002007000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $255,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $305,000
      6.5%
      $285,000
      7%
      $265,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $175,000
      Market price range: $81.5k - $248k
      AI Estimate
      $178,000
      Market price range: $81.5k - $241k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $155,000
      Current use
      AUTO REPAIR, GARAGE
      $295,000
      Change: +91% Conversion: Difficult
      MEDICAL BUILDING
      $185,000
      Change: +21% Conversion: Difficult
      OFFICE BUILDING
      $170,000
      Change: +11% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Cincinnati
    County
    Hamilton
    State
    Ohio
    Longitude
    -84.521
    Latitude
    39.1277
    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
    $3,980
    $19,320
    $28,431
    $47,751
    -
    $55,200
    $81,230
    $136,430

    Comparable in this City

    • Value Estimation
      $285,000
      2,858 SF

      2721-2725 Short Vine St

      RETAIL STORES (PERSONAL SERVICES) • 2,858 SF
      2721-2725 Short Vine St, Cincinnati, OH 45219
      View Details
    • Value Estimation
      $360,000
      1.32 Acres

      Jefferson Ave

      RETAIL STORES (PERSONAL SERVICES) • 1.32 Acres
      Jefferson Ave, Cincinnati, OH 45219
      View Details
    • Value Estimation
      $210,000
      984 SF

      2300 Stratford Ave

      RETAIL STORES (PERSONAL SERVICES) • 984 SF
      2300 Stratford Ave, Cincinnati, OH 45219-1214
      View Details
    • Value Estimation
      $260,000
      152 SF

      121 Calhoun St

      RETAIL STORES (PERSONAL SERVICES) • 152 SF
      121 Calhoun St, Cincinnati, OH 45219-3511
      View Details
    • Value Estimation
      $295,000
      2,400 SF

      243 Mcmillan St

      RETAIL STORES (PERSONAL SERVICES) • 2,400 SF
      243 Mcmillan St, Cincinnati, OH 45219-1238
      View Details
    • Value Estimation by Request

      237 Calhoun St, Unit 279

      RETAIL STORES (PERSONAL SERVICES)
      237 Calhoun St, Cincinnati, OH 45219-1340
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      8,713 SF

      Iconic Cincinnati Restaurant Opportunity

      Established restaurant with FF&E, liquor license, patio, and parking.
      302 E University Ave, Cincinnati, OH 45219
      View Details
    • $750,000
      11,008 SF

      Prime Cincinnati Multi-Use Property

      Historic building, high-growth area, great potential.
      333 Warner St, Cincinnati, OH 45219
      View Details
    • $11,000,000

      The Strafford: Upscale Cincinnati Apartments

      Historic Charm, High ROI Potential
      255 Warner St, Cincinnati, OH 45219
      View Details
    • $85,000
      Pending

      Cincinnati Duplex with Income Potential

      1584 sqft duplex in Cincinnati, OH. Great investment opportunity.
      2124 Highland Ave, Cincinnati, OH 45219
      View Details
    • $399,000
      5,388 SF

      Multifamily Property Near UC Campus

      Fully leased investment opportunity near hospitals and UC campus.
      3010 Burnet Ave, Cincinnati, OH 45219
      View Details
    • $895,000
      5,000 SF

      Updated Office Building with Parking

      5,000 SF office building with on-site parking.
      2605 Burnet Ave, Cincinnati, OH 45219
      View Details

    Similar Nearby for Lease

    • $26 SF/Yr
      1,848 SF

      Retail Space Near University

      Retail space available in vibrant mixed-use development near University.
      255 Calhoun St, Cincinnati, OH 45219
      View Details
    • $32 SF/Yr
      1,440 SF

      Retail Space Near University

      Retail space adjacent to the University of Cincinnati.
      120-228 Calhoun St, Cincinnati, OH 45219
      View Details
    • Contact for pricing
      1,160 SF

      Retail Space Near University

      Retail space available in vibrant mixed-use project near University.
      225 Calhoun St, Cincinnati, OH 45219
      View Details
    • Contact for pricing
      1,972 SF

      Retail Space Available For Rent

      Retail space available for rent with 1972 square feet.
      222-224 W Mcmillan St, Cincinnati, OH 45219
      View Details
    • $42 SF/Yr
      5,009 SF

      Retail Space Available For Rent

      5,009 square feet of retail space for lease.
      310 Straight St, Cincinnati, OH 45219
      View Details
    • $32 SF/Yr
      2,448 SF

      Calhoun Street Marketplace Retail Space

      Prime Retail Space, University of Cincinnati Area
      0 Calhoun St, Cincinnati, OH 45219
      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.
    241 Mcmillan St
    Cincinnati, OH 45219-1238
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.