Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$650,000
Strip malls
2701 Observatory Ave Cincinnati, OH 45208-2107
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US66-2473102
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1925
Total area
5,888 SF
Lot
0.19 ac (8,494 SF)
APN
046-0005-0066-00
UPID
US66-2473102
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
-
The Exercise Coach Hyde Park OH Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$739k
Blend (final)
Blend
$650k
Owner & transaction history
2701 Observatory LLC · 1 yrs held
2701 Observatory LLC
since 2024
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.1M
+111.4%
Restaurant
$980,000
+91.8%
Medical building
$685,000
+33.9%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$510,000
Current use
AUTO REPAIR, GARAGE
$1,080,000
Change: +111% · Conversion: Difficult
RESTAURANT
$980,000
Change: +92% · Conversion: Difficult
MEDICAL BUILDING
$685,000
Change: +34% · Conversion: Difficult
OFFICE BUILDING
$625,000
Change: +22% · Conversion: Moderate
RETAIL STORES
$565,000
Change: +11% · Conversion: Easy
COMMERCIAL (GENERAL)
$520,000
Change: +2% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$495,000
Change: -3% · Conversion: Difficult
Blend value · Realmo final
$650k
Range $585k – $715k · ±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
$110 / 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
$25,266
Tax year 2023
Assessed value
$307,124
Assessed 2023
Previous assessed
$219,727
+39.8% YoY
Effective rate
8.23%
On assessed value
Assessed land
$169,151
Assessed improvement
$137,973
Land market value
$483,290
Improvement market value
$394,210
Total market value
$877,500
Applied tax rate
1.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1925
Heating
YES
Stories
1
Rooms
4
Total area
5,888 SF
Lot
0.19 ac (8,494 SF)
APN
046-0005-0066-00
UPID
US66-2473102
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$510,000
AUTO REPAIR, GARAGE
Est. value
$1.1M
RESTAURANT
Est. value
$980,000
MEDICAL BUILDING
Est. value
$685,000
OFFICE BUILDING
Est. value
$625,000
RETAIL STORES
Est. value
$565,000
COMMERCIAL (GENERAL)
Est. value
$520,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$495,000
NEIGHBORHOOD: SHOPPING CENTER Current
AUTO REPAIR, GARAGE
RESTAURANT
MEDICAL BUILDING
OFFICE BUILDING
RETAIL STORES
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
1925
Heating
YES
Stories
1
Rooms
4
Lot
0.19 ac
Current owner
From public records · entity-resolved
2701 Observatory LLC
Entity
Free & Clear · 1 yrs held
Mailing address
2718 SHORT VINE ST, CINCINNATI, OH 45219-2019
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 8, 2025
—
2552 Madison LLC
—
Deed
related
$10,600,000 · First Financial Bank
Nov 7, 2024
—
2701 Observatory LLC
Aristo Properties B V
Warranty Deed
—
Jan 12, 2005
—
Jalsu LLC
Pfaelzer Alice S
Warranty Deed
—
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 2701 Observatory Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
