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

    302 3Rd St Cincinnati, OH 45202

    • Commercial land
    • 0.42 lot acres
    For Lease
    View listing
    $18 SF/Yr
    Last Sale
    Jan 27, 2023
    $23,400,000
    Value Estimations
    $23,610,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-0430144
    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

    • Zengistics, Inc / Logistics Company / Freight Service
    • DartPoints / Tech Support Center / IT Consulting Firm
    • Al. Neyer / Construction Company / General Contractor
    • Ge Bai / Shopping Center & Mall
    • Landor / Advertising Agency / Marketing & Advertising

    Property Details for 302 3Rd St

    Lot size
    0.42 lot acres
    Property type
    Commercial land
    APN
    145-0001-0101-00
    APU
    1450001010100

    Description

    This exceptional Hamilton County property, located at 302 W 3rd St, offers a prime opportunity for businesses seeking executive office space in the heart of Cincinnati. The building boasts a total of 176,971 square feet, providing ample space for a variety of needs. Currently, there are three available suites ranging in size from 4,938 to 23,277 square feet, catering to businesses of all scales. The building's multiple tenancy structure ensures a diverse and vibrant professional environment. Ample parking is available on-site, addressing a key concern for employees and clients. The property's central location in downtown Cincinnati offers unparalleled access to major transportation routes, amenities, and other businesses. This is an ideal location for companies seeking a prestigious and convenient address to enhance their professional image and operational efficiency. The available suites provide a flexible solution for businesses looking to expand or downsize, offering a range of options to accommodate specific requirements. Interested parties are encouraged to explore the available space and discover the potential of this exceptional downtown Cincinnati office building. The property type is classified as Office, with a subtype of Executive Office.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $24,035,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Cincinnati
    County
    Hamilton
    State
    Ohio
    Longitude
    -84.5177
    Latitude
    39.0981
    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
    $43,479
    $495,338
    $0.00
    $495,338
    -
    $1,415,250
    $0.00
    $1,415,250

    Comparable in this City

    • Value Estimation by Request
      0.02 Acres

      1661 Hamer St

      VACANT COMMERCIAL LAND • 0.02 Acres
      1661 Hamer St, Cincinnati, OH 45202-3697
      View Details
    • Value Estimation by Request
      0.05 Acres

      238 Foster St

      VACANT COMMERCIAL LAND • 0.05 Acres
      238 Foster St, Cincinnati, OH 45202-1821
      View Details
    • Value Estimation by Request
      0.05 Acres

      246 Foster St

      VACANT COMMERCIAL LAND • 0.05 Acres
      246 Foster St, Cincinnati, OH 45202-1821
      View Details
    • Value Estimation by Request
      0.05 Acres

      240 Foster St

      VACANT COMMERCIAL LAND • 0.05 Acres
      240 Foster St, Cincinnati, OH 45202-1821
      View Details
    • Value Estimation by Request
      0.04 Acres

      239 Foster St

      VACANT COMMERCIAL LAND • 0.04 Acres
      239 Foster St, Cincinnati, OH 45202-1834
      View Details
    • Value Estimation by Request
      0.02 Acres

      Charles St

      VACANT COMMERCIAL LAND • 0.02 Acres
      Charles St, Cincinnati, OH 45202
      View Details

    Similar Nearby for Sale

    • $1,950,000
      1.36 Acres

      Riverside Drive Development Opportunity

      Prime 1.36-acre development site in Cincinnati's Historic East End.
      2370 Riverside Dr, Cincinnati, OH 45202
      View Details
    • $950,000
      0.12 Acres

      Land with Panoramic Views

      Sloped hillside land with development opportunity in Cincinnati, OH.
      915 Monastery St, Cincinnati, OH 45202
      View Details
    • $225,000

      Residential Land for Dream Home

      Land available to build a dream home with river views.
      985 Parkside Pl, Cincinnati, OH 45202
      View Details
    • $225,000
      0.09 Acres

      Buildable Lot in Downtown Cincinnati

      Prime lot for new construction in vibrant downtown Cincinnati.
      318 Seitz St, Cincinnati, OH 45202
      View Details
    • $550,000

      Development Opportunity Near Downtown

      Land zoned for multi-family development, convenient location.
      1928 Riverside Dr, Cincinnati, OH 45202
      View Details
    • $1,350,000
      17,805 SF

      Downtown Cincinnati Mixed-Use Gem

      Prime location, 17,805 SF, vacant, $1.35M
      112 3Rd St, Cincinnati, OH 45202
      View Details

    Similar Nearby for Lease

    • $28 SF/Yr
      407,712 SF

      Downtown Cincinnati Office Space

      Class A Office, 97,392 SF Available
      191 Rosa Parks St, Cincinnati, OH 45202
      View Details
    • $17 SF/Yr
      4,008 SF

      Dixie Terminal Retail Spaces

      Prime Cincinnati Retail, Two Suites Available
      43 4Th St, Cincinnati, OH 45202
      View Details
    • $10 SF/Yr
      30,240 SF

      Downtown Coworking Loft Space

      Historic building, modern coworking suites. Prime location.
      214 8Th St, Cincinnati, OH 45202
      View Details
    • $10 SF/Yr
      625,765 SF

      Center at 600 Vine: Premier Office Space

      Cincinnati Office Building, Multiple Suites Available
      600 Vine St, Cincinnati, OH 45202
      View Details
    • $25 SF/Yr
      72,640 SF

      Downtown Cincinnati Office Space

      Prime Office Suites, Flexible Sizes
      101 5Th St, Cincinnati, OH 45202
      View Details
    • Contact for pricing
      8,500 SF

      Turn-Key Restaurant Space in Pendleton

      Restaurant space with rooftop in Cincinnati's vibrant Pendleton District.
      316 Reading Rd, Cincinnati, OH 45202
      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.
    302 3Rd St
    Cincinnati, OH 45202
    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.