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Property profile & analytics
FOR LEASE
Strip malls

2651 Observatory Ave Cincinnati, OH 45208

9,609 SF 0.35 ac lot Built 1989
Entity Owned 15-yr Hold Absentee Owner Free & Clear
Property ID
US66-1566633
Property summary
AI-generated overview

The Otto Building, a two-story, 14,373 square foot Class C commercial property, presents a unique leasing opportunity in the desirable Hyde Park submarket. Built in 1989, this multi-tenant building offers a blend of traditional office and medical office space, making it suitable for a variety of businesses. The building boasts 22 parking spaces, a significant advantage in this vibrant area. Currently, one 1,425 square foot space is available for lease. The building's strategic location at the corner of Observatory and Edwards Roads places it just one block from the bustling Hyde Park Square, providing excellent visibility and accessibility. Beneficial co-tenancy includes established businesses such as Widmer's Cleaners, Hank Yarn Boutique, and Stok Yards Bank & Trust, creating a strong and diverse commercial environment. The property is zoned CNP and has an APN of 046-0008-0081-00. This presents a compelling opportunity for businesses seeking a well-located, established space within a thriving community. The building's size and layout offer flexibility for various business needs, making it an ideal choice for companies looking to establish or expand their presence in Hyde Park.

Property profile
Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 1989
Total area 9,609 SF
Lot 0.35 ac (15,115 SF)
APN 046-0008-0081-00
UPID US66-1566633
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
  • HUB International Financial Advisor
  • Hank, a Yarn Boutique (Bike/Boat/Book/etc) Store
  • Michelle Koval Physician
  • Healing Hands Therapeutic Massage Alternative Medicine Practice Spa & Massage Center
  • Ms. Helen Magers Counselor Practitioner Service Location
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.21M
Blend (final) Blend
$1.02M
Owner & transaction history
RNS INVESTMENTS
RNS INVESTMENTS
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant $1.6M +91.8%
Medical building $1.1M +33.9%
Office building $1.0M +22.4%
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More about this property
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