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

    2517 Ritchie St Crescent Springs, KY 41017-1609

    • Office buildings
    • 936 SF
    • 0.25 lot acres
    OFF-MARKET
    Last Sale
    Jul 13, 2021
    $180,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US34-0281464
    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

    • Office buildings

    Property Details for 2517 Ritchie St

    Year built
    1957
    Lot size
    0.25 lot acres
    Property size
    936 SF
    Property type
    Office buildings
    APN
    014-30-00-183.00
    APU
    14300018300

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Crescent Springs
    County
    Kenton
    State
    Kentucky
    Longitude
    -84.5769
    Latitude
    39.0464
    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
    $1,919
    $75,000
    $105,000
    $180,000
    -
    $75,000
    $105,000
    $180,000

    Comparable in this City

    • Value Estimation by Request
      2,616 SF

      970 Dudley Pike, Unit 990

      OFFICE BUILDING • 2,616 SF
      970 Dudley Pike, Edgewood, KY 41017-8178
      View Details
    • Value Estimation by Request
      1,000 SF

      2364 Grandview Dr, Unit D-4B

      OFFICE BUILDING • 1,000 SF
      2364 Grandview Dr, Ft Mitchell, KY 41017
      View Details
    • Value Estimation
      $945,000
      7,240 SF

      939 Helen Ruth Dr

      OFFICE BUILDING • 7,240 SF
      939 Helen Ruth Dr, Covington, KY 41017-9677
      View Details
    • Value Estimation by Request
      4,662 SF

      178-182 Barnwood Dr

      OFFICE BUILDING • 4,662 SF
      178-182 Barnwood Dr, Edgewood, KY 41017
      View Details
    • Value Estimation
      $865,000
      538 SF

      619 Buttermilk Pike

      OFFICE BUILDING • 538 SF
      619 Buttermilk Pike, Crescent Springs, KY 41017-1301
      View Details
    • Value Estimation
      $955,000
      9,000 SF

      2121 Chamber Ctr Dr, Unit 2145

      OFFICE BUILDING • 9,000 SF
      2121 Chamber Ctr Dr, Lakeside Park, KY 41017-1664
      View Details

    Similar Nearby for Sale

    • $1,375,000
      17,923 SF

      Edgewood Office Building For Sale

      Office building in desirable Northern Kentucky suburb, close to amenities.
      196 Barnwood Dr, Edgewood, KY 41017
      View Details
    • $1,500,000
      7,100 SF

      Medical Office Building For Sale

      Single tenant medical office building leased to Hopebridge Autism Therapy.
      2904 Foltz Dr, Edgewood, KY 41017
      View Details
    • $349,900
      2,500 SF

      Commercial Condo in Fort Mitchell

      Commercial condo with flexible floor plan in Fort Mitchell, KY.
      2370 Grandview Dr, Covington, KY 41017
      View Details
    • $575,000
      5,000 SF

      Move-in Ready Commercial Property, Edgewood

      Flexible commercial space in a desirable Edgewood location.
      170 Barnwood Dr, Edgewood, KY 41017
      View Details
    • $489,000
      2,500 SF

      Crestview Hills Office Space

      2,500 SF office space in Crestview Hills, Kentucky.
      545-567 Centre View Blvd, Crestview Hills, KY 41017
      View Details
    • $249,900
      1,500 SF

      Commercial Condo in Fort Mitchell

      Commercial condo space suitable for various business types.
      2370 Grandview Dr, Covington, KY 41017
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      7,500 SF

      Class A Office Space Available

      Class A office space with unbeatable signage and ample parking.
      207 Grandview Dr, Ft Mitchell, KY 41017
      View Details
    • $23 SF/Yr
      10,350 SF

      Class A Office Space Available

      High-visibility office space with abundant parking and tenant amenities.
      740 Centre View Blvd, Crestview Hills, KY 41017
      View Details
    • $16 SF/Yr
      20,150 SF

      Chapel Place Office Park: Premier KY Offices

      Executive suites, high visibility, flexible space.
      340 Thomas More Pkwy, Crestview Hills, KY 41017
      View Details
    • $1,100,470
      5,530 SF

      Medical Office Space For Rent

      Medical office space near St. Elizabeth Hospital with highway access.
      2701 Chancellor Dr, Crestview Hills, KY 41017
      View Details
    • Contact for pricing
      1,796 SF

      Office Space in Crestview Hills

      Office space available near I-275 and Crestview Hills Town Center.
      536-580 Centre View Blvd, Crestview Hills, KY 41017
      View Details
    • $16 SF/Yr
      4,423 SF

      Crestview Hills Office Space

      Office spaces in a corporate campus setting near St. Elizabeth.
      340-350 Thomas More Pkwy, Crestview Hills, KY 41017
      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.
    2517 Ritchie St
    Crescent Springs, KY 41017-1609
    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.