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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2759 Observatory Ave Cincinnati, OH 45208-2231

    • Retail space
    • 2,256 SF
    • 0.06 lot acres
    OFF-MARKET
    Last Sale
    Oct 22, 2024
    $460,000
    Value Estimations
    $445,000
    Show details
    Cap Rate Potential
    5.7%
    Retail space
    Location Intelligence
    Property ID
    US66-2416093
    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

    • Hyde Park Coiffures / Beauty Salon

    Property Details for 2759 Observatory Ave

    Year built
    1901
    Construction
    FRAME
    Lot size
    0.06 lot acres
    Property size
    2,256 SF
    Property type
    Retail space
    APN
    046-0003-0004-00
    APU
    460003000400

    Description

    This exceptional 2,392 square foot medical office space is located at 2759 Observatory Avenue in Cincinnati, Ohio's desirable Hyde Park neighborhood (zip code 45208). Built in 1901, this single-tenant property boasts a prime location with excellent street visibility, making it ideal for a variety of medical practices. The building is a two-story structure, zoned OL, and features a convenient single-tenant occupancy. Its previous use as Hyde Park Coiffures demonstrates its adaptability and potential for diverse businesses. The property's address is easily accessible and benefits from high foot traffic and strong local appeal, ensuring significant exposure for any tenant. The property's unique character and prime location within the vibrant Hyde Park submarket of Cincinnati offer a rare opportunity for a business seeking a high-profile presence in a thriving community. The APN is 046-0003-0004-00. This property presents a compelling investment opportunity for those seeking a well-situated, adaptable space in a sought-after Cincinnati location. The building's history and location combine to create a unique and attractive space for a discerning business.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $460,000
      ML approach
      $460,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $435,000
      6.5%
      $400,000
      7%
      $370,000

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $415,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Cincinnati
    County
    Hamilton
    State
    Ohio
    Longitude
    -84.4407
    Latitude
    39.1372
    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
    $6,442
    $22,911
    $51,268
    $74,179
    -
    $65,460
    $146,480
    $211,940

    Comparable in this City

    • Value Estimation
      $275,000
      0.24 Acres

      3666 Erie Ave

      RETAIL STORES (PERSONAL SERVICES) • 0.24 Acres
      3666 Erie Ave, Cincinnati, OH 45208-1939
      View Details
    • Value Estimation
      $280,000
      1,716 SF

      3378 Erie Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,716 SF
      3378 Erie Ave, Cincinnati, OH 45208-1626
      View Details
    • Value Estimation
      $210,000
      3,410 SF

      2041 Madison Rd

      RETAIL STORES (PERSONAL SERVICES) • 3,410 SF
      2041 Madison Rd, Cincinnati, OH 45208-3218
      View Details
    • Value Estimation
      $510,000
      8,722 SF

      2010 Madison Rd

      RETAIL STORES (PERSONAL SERVICES) • 8,722 SF
      2010 Madison Rd, Cincinnati, OH 45208-3219
      View Details
    • Value Estimation
      $300,000
      0.13 Acres

      3524 Edwards Rd

      RETAIL STORES (PERSONAL SERVICES) • 0.13 Acres
      3524 Edwards Rd, Cincinnati, OH 45208-1375
      View Details
    • Value Estimation
      $2,875,000
      12,979 SF

      2719 Erie Ave

      RETAIL STORES (PERSONAL SERVICES) • 12,979 SF
      2719 Erie Ave, Cincinnati, OH 45208-2103
      View Details

    Similar Nearby for Sale

    • $695,000

      Retail Space on Madison Road

      1,580 SF retail space with parking in rear.
      1985 Madison Rd, Cincinnati, OH 45208
      View Details
    • Contact for pricing
      0.26 Acres

      Bar/Restaurant/Retail Spaces Available

      Second generation bar/restaurant/retail spaces for sale.
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    • $184,900
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      Updated Condo with Private Terrace

      Tastefully updated condo with treetop views, in-unit laundry.
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      Spacious 3-bedroom condo with updated kitchen and abundant amenities.
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      19,377 SF

      Mt. Lookout Redevelopment Opportunity

      29-unit apartment building with redevelopment potential in vibrant Cincinnati neighborhood.
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    Similar Nearby for Lease

    • $795,000
      4,000 SF

      Retail/Office Space on Madison Rd

      Well-appointed retail or office space with parking in prime location.
      2029 Madison Rd, Cincinnati, OH 45208
      View Details
    • Contact for pricing
      14,373 SF

      Hyde Park Office Building For Lease

      Prime Hyde Park location, 14,373 sq ft.
      2651 Observatory Ave, Cincinnati, OH 45208
      View Details
    • Contact for pricing
      3,844 SF

      Prime Cincinnati Retail Space

      Multiple Suites Available, High Visibility
      3152 Linwood Ave, Cincinnati, OH 45208
      View Details
    • $25 SF/Yr
      17,000 SF

      Downtown Cincinnati Office Space

      Prime location, modern amenities, 6 suites available
      1018 Delta Ave, Cincinnati, OH 45208
      View Details
    • $1,250 /Mo
      300 SF

      Hyde Park Square Office Space

      Office space for rent in the heart of Hyde Park.
      2631 Erie Ave, Cincinnati, OH 45208
      View Details
    • $4,541 /Mo
      9,120 SF

      Adaptable Office Space in Cincinnati

      Office space with open layout, parking, and high visibility.
      2112 Madison Rd, Cincinnati, OH 45208
      View Details
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    Cincinnati, OH 45208-2231
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    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
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