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    3244 Central Pkwy Cincinnati, OH 45225-2306
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    Property profile & analytics

    3244 Central Pkwy, Cincinnati, OH 45225-2306

    View on Map
    • Motels
    • 2.73 lot acres
    Off-Market
    Property ID
    US66-0055447
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Central Inn & Suites / Hotel & Motel
    • Rest Inn / Hotel & Motel

    Property Details for 3244 Central Pkwy

    Year built
    1957
    Lot size
    2.73 lot acres
    Property type
    Motels
    APN
    214-0001-0007-00
    APU
    2140001000700

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 5, 2008 $250,000 3244 Central Parkway INC Baier Kenneth E Trst Grant Deed —
    — — Gopal C Govan — Deed Of Trust · related $1M · Cit Small Business Lending Co

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Cincinnati
    County
    Hamilton
    State
    Ohio
    Longitude
    -84.5308
    Latitude
    39.1421
    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
    $25,196
    $202,965
    $104,020
    $306,985
    -
    $579,900
    $297,200
    $877,100

    Comparable in this City

    • Value Estimation by Request
      10,687 SF

      3356 Central Pkwy

      MOTEL
      3356 Central Pkwy, Cincinnati, OH 45225-2307
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    • Value Estimation by Request
      0.30 Acres

      3356 Central Pkwy

      MOTEL
      3356 Central Pkwy, Cincinnati, OH 45225-2307
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    • Value Estimation by Request
      0.06 Acres

      1318 Ethan Ave

      INDUSTRIAL - VACANT LAND
      1318 Ethan Ave, Cincinnati, OH 45225-1810
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    • Value Estimation by Request
      0.21 Acres

      2929 Henshaw Ave

      COMMERCIAL (GENERAL)
      2929 Henshaw Ave, Cincinnati, OH 45225-2105
      View Details
    • Value Estimation by Request
      0.04 Acres

      2949 Henshaw Ave

      VACANT COMMERCIAL LAND
      2949 Henshaw Ave, Cincinnati, OH 45225
      View Details
    • Value Estimation by Request
      0.13 Acres

      2635 Cummins St

      MANUFACTURING (LIGHT)
      2635 Cummins St, Cincinnati, OH 45225-2015
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      Pending

      Commercial/Industrial Land For Sale

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      0.09 Acres

      Land For Sale, Cincinnati, OH

      Affordable lot in a growing community, Cincinnati, OH.
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    • $225,000
      Pending

      Mixed-Use Property in Camp Washington

      Mixed-use property with redevelopment potential in high-visibility location.
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      Land Available For Sale

      3.66 acres of land for sale.
      3356 Central Pkwy, Cincinnati, OH 45225
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail/Office Space Available For Lease

      Retail or office space with flexible lease terms available.
      3103 Colerain Ave, Cincinnati, OH 45225
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    • Contact for pricing
      14,000 SF

      Cincinnati Warehouse Space Available

      51,876 SF warehouse space for lease in Cincinnati.
      3300 Spring Grove Ave, Cincinnati, OH 45225
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      25,000 SF

      Industrial Space with Freight Elevator

      10,000 SF industrial space available for lease.
      2733 Colerain Ave, Cincinnati, OH 45225
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    • Contact for pricing
      3,000 SF

      Retail Space Available For Rent

      Retail space available for lease, approximately 3,000 square feet.
      2951 Colerain Ave, Cincinnati, OH 45225
      View Details
    • Contact for pricing
      1,860 SF

      Redevelopment Opportunity Near I-75

      Former Taco Bell site available for redevelopment near I-75.
      3012 Colerain Ave, Cincinnati, OH 45225
      View Details
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    Cincinnati, OH 45225-2306
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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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