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

    3231 Springdale Rd Cincinnati, OH 45251-1583

    • Apartment buildings
    • 25,728 SF
    • 2.40 lot acres
    OFF-MARKET
    Value Estimations
    $1,365,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1100259
    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

    • Leslie Marie Apartments / Apartment Building

    Property Details for 3231 Springdale Rd

    Year built
    1980
    Lot size
    2.40 lot acres
    Property size
    25,728 SF
    Property type
    Apartment buildings
    APN
    510-0112-0004-00
    APU
    5100112000400

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,455,000
      Market price range: $919k - $4.94M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $2,160,000
      Current use
      COMMERCIAL (GENERAL)
      $2,275,000
      Change: +5% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $2,230,000
      Change: +3% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Cincinnati
    County
    Hamilton
    State
    Ohio
    Longitude
    -84.5849
    Latitude
    39.2545
    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
    $28,087
    $68,880
    $293,517
    $362,397
    -
    $196,800
    $838,620
    $1,035,420

    Comparable in this City

    • Value Estimation by Request
      2.77 Acres

      3231 Sovereign Dr, Unit 3241

      APARTMENT HOUSE (5+ UNITS) • 2.77 Acres
      3231 Sovereign Dr, Cincinnati, OH 45251-3113
      View Details
    • Value Estimation
      $1,005,000
      10,431 SF

      2750 Townterrace Dr

      APARTMENT HOUSE (5+ UNITS) • 10,431 SF
      2750 Townterrace Dr, Cincinnati, OH 45251-1180
      View Details
    • Value Estimation
      $1,935,000
      34,776 SF

      3167 Regal Ln

      APARTMENT HOUSE (5+ UNITS) • 34,776 SF
      3167 Regal Ln, Cincinnati, OH 45251-3159
      View Details
    • Value Estimation
      $3,465,000
      1,302 SF

      9260 Round Top Rd, Unit 9355

      APARTMENT HOUSE (5+ UNITS) • 1,302 SF
      9260 Round Top Rd, Cincinnati, OH 45251-2510
      View Details
    • Value Estimation
      $1,830,000
      19,680 SF

      2753 Townterrace Dr

      APARTMENT HOUSE (5+ UNITS) • 19,680 SF
      2753 Townterrace Dr, Cincinnati, OH 45251-1101
      View Details
    • Value Estimation by Request
      2,304 SF

      2768 Struble Rd

      APARTMENT HOUSE (5+ UNITS) • 2,304 SF
      2768 Struble Rd, Cincinnati, OH 45251
      View Details

    Similar Nearby for Sale

    • $1,275,000

      Retail Property for Sale

      Retail property available for purchase in Cincinnati, Ohio.
      3515 Springdale Rd, Cincinnati, OH 45251
      View Details
    • $1,750,000
      9,975 SF

      Retail Space on Colerain Avenue

      Retail property with high visibility and easy access.
      9336 Colerain Ave, Cincinnati, OH 45251
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    • $245,000
      Pending

      Historic Church in Colerain Twp

      Historic church on high-traffic corner, suitable for redevelopment.
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      7,250 SF

      AmeriStop Strip Center For Sale

      Retail strip center in excellent condition with renewed tenants.
      3385 Springdale Rd, Cincinnati, OH 45251
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    • Contact for pricing

      31 Acres Commercial Land Available

      31 acres of commercial land for lease with I-275 exposure.
      3633 Struble Rd, Cincinnati, OH 45251
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      387,624 SF

      Retail Space in High-Traffic Center

      Retail spaces available in Cincinnati, anchored by Walmart Supercenter.
      10160-10240 Colerain Ave, Cincinnati, OH 45251
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    • $10 SF/Yr
      30,000 SF

      Retail Space Near Northgate Mall

      30,000 SF retail space with high visibility and accessibility.
      9687 Colerain Ave, Cincinnati, OH 45251
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    • Contact for pricing
      37,941 SF

      Retail Space Near Northgate Mall

      Retail spaces available near Northgate Mall at Colerain Ave.
      9674-9690 Colerain Ave, Cincinnati, OH 45251
      View Details
    • $20 SF/Yr

      Retail/Office Space on Colerain Avenue

      Versatile 1,754 SF retail/office space in high-traffic Cincinnati location.
      Northgate Dr, Cincinnati, OH 45251
      View Details
    • Contact for pricing
      4,100 SF

      Retail Space Near Northgate Mall

      Retail spaces available near Colerain Ave and Springdale Road.
      3563 Springdale Rd, Cincinnati, OH 45251
      View Details
    • $10 SF/Yr
      1,600 SF

      Office/Medical Building Near Northgate Mall

      Multi-tenant office/medical building near I-275 and Northgate Mall.
      3551 Springdale Rd, Cincinnati, OH 45251
      View Details
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    3231 Springdale Rd
    Cincinnati, OH 45251-1583
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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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