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    Property profile & analytics

    3240 Highland Ave Cincinnati, OH 45213

    • Community centers
    • 28.07 lot acres
    For Lease
    View listing
    $10 SF/Yr
    Last Sale
    Jun 26, 2024
    $275,000
    Value Estimations
    $275,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-0339213
    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

    • HomeBuys - Highland Ave Cincinnati / Home Goods Store / Furniture Store

    Property Details for 3240 Highland Ave

    Year built
    1975
    Lot size
    28.07 lot acres
    Property type
    Community centers
    APN
    520-0270-0011-00
    APU
    5200270001100

    Description

    Ridge Plaza, located at 3240 Highland Ave, Cincinnati, OH 45213, offers 27,330 square feet of flexible commercial space across three buildings on a 4.24-acre lot. Built in 1973 and renovated in 1992, this multi-tenant property is suitable for a variety of uses, including retail, warehouse, distribution, R&D, and office space. The minimum divisible space is 1,371 square feet, with a maximum contiguous space of 7,945 square feet. The property boasts 14 loading docks, providing ample access for efficient operations. A retail storefront with convenient front parking is also available. The property benefits from a high-traffic location, with Highland Avenue seeing 21,200 vehicles per day and Interstate 71 boasting 123,300 vehicles per day. This prime location and versatile space make Ridge Plaza an excellent investment opportunity. The cross street is Ridge Avenue.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $275,000
      ML approach
      $275,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Cincinnati
    County
    Hamilton
    State
    Ohio
    Longitude
    -84.4286
    Latitude
    39.1691
    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
    $328,822
    $2,791,792
    $765,191
    $3,556,983
    -
    $7,976,550
    $2,186,260
    $10,162,810

    Comparable in this City

    • Value Estimation
      $400,000
      1.76 Acres

      5301 Rdg Ave

      MINI-MALL • 1.76 Acres
      5301 Rdg Ave, Cincinnati, OH 45213-2511
      View Details
    • Value Estimation
      $760,000
      107,931 SF

      5245 Rdg Ave

      SHOPPING CENTER, STRIP CENTER • 107,931 SF
      5245 Rdg Ave, Cincinnati, OH 45213-2503
      View Details
    • Value Estimation
      $400,000
      10.38 Acres

      5385 Rdg Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 10.38 Acres
      5385 Rdg Ave, Cincinnati, OH 45213-2543
      View Details
    • Value Estimation
      $320,000
      2.78 Acres

      5245 Rdg Ave

      SHOPPING CENTER, STRIP CENTER • 2.78 Acres
      5245 Rdg Ave, Cincinnati, OH 45213-2503
      View Details
    • Value Estimation
      $335,000
      5,710 SF

      6003 Rdg Ave

      SHOPPING CENTER, STRIP CENTER • 5,710 SF
      6003 Rdg Ave, Cincinnati, OH 45213
      View Details
    • Value Estimation
      $405,000
      15,470 SF

      6136 Montgomery Rd

      SHOPPING CENTER, STRIP CENTER • 15,470 SF
      6136 Montgomery Rd, Cincinnati, OH 45213-1402
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.11 Acres

      Prime Retail/Office Space, Cincinnati

      High-traffic location, excellent visibility.
      5280 Ridge Ave, Cincinnati, OH 45213
      View Details
    • Contact for pricing
      0.58 Acres

      Prime Cincinnati Retail Land

      0.575-acre pad site, high traffic area.
      5416 Ridge Ave, Cincinnati, OH 45213
      View Details
    • Contact for pricing

      Land Available for Sale

      Land available at 8599 Ridge Road, Cincinnati, Ohio.
      8603 Ridge Ave, Cincinnati, OH 45213
      View Details
    • Contact for pricing

      Ridge Plaza Commercial Land

      Three prime Cincinnati outlots, high traffic.
      3240 Highland Ave, Cincinnati, OH 45213
      View Details
    • $34,900
      Pending

      Residential Lot in Kennedy Heights

      Single-family lot in established Cincinnati neighborhood, convenient location.
      6133 Red Bank Rd, Cincinnati, OH 45213
      View Details
    • Contact for pricing

      Commercial Land Prime for Development

      1.2+ acres of commercial property in Kennedy Heights.
      6661-6715 Montgomery Rd, Cincinnati, OH 45213
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      3,592 SF

      Pleasant Ridge Retail Space Available

      3,592 SF retail space in Pleasant Ridge.
      6097 Montgomery Rd, Cincinnati, OH 45213
      View Details
    • $25 SF/Yr
      2,597 SF

      Prime Retail/Restaurant Spaces Available

      End-cap locations with patios in thriving business district.
      6010 Montgomery Rd, Cincinnati, OH 45213
      View Details
    • $15 SF/Yr
      2,377 SF

      Highland Ave Ridge Plaza: Flex Space

      Prime Flex Space, Two Units Available
      3254 Highland Ave, Cincinnati, OH 45213
      View Details
    • $10 SF/Yr
      27,330 SF

      Ridge Plaza: Cincinnati Flex Space

      Versatile Cincinnati flex space, ideal for multiple tenants.
      3240 Highland Ave, Cincinnati, OH 45213
      View Details
    • Contact for pricing
      14,966 SF

      Prime Retail Space in Cincinnati

      Two-story retail space in Pleasant Ridge's resurging business district.
      6070 Montgomery Rd, Cincinnati, OH 45213
      View Details
    • $18 SF/Yr
      1,822 SF

      Pleasant Ridge Retail Space Available

      Shell space in renovated building, ideal for retail or office.
      6201-6207 Montgomery Rd, Cincinnati, OH 45213
      View Details
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    3240 Highland Ave
    Cincinnati, OH 45213
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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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