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    3340 Erie Ave Cincinnati, OH 45208

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    Property profile & analytics

    3340 Erie Ave Cincinnati, OH 45208

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    • Office buildings
    • 9,746 SF
    • 0.35 lot acres
    For Lease
    $605,000
    View Listing →
    Erie Avenue Office Building For Lease
    $605,000
    21,000 SF

    Erie Avenue Office Building

    Two-level office building with parking and signage on Erie Avenue.

    3340 Erie Avenue, Cincinnati, OH 45208
    View Listing
    Property ID
    US66-2070592
    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
    $605,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • China Gourmet / Restaurant
    • Cincinnati BodyWork Solutions / Alternative Medicine Practice / Spa & Massage Center
    • Cincinnati BodyWork Solutions, LLC / Alternative Medicine Practice / Spa & Massage Center
    • Kingsview Partners Cincinnati Office / Financial Advisor
    • Beauty by Bopha / Nail Salon

    Property Details for 3340 Erie Ave

    Year built
    1976
    Lot size
    0.35 lot acres
    Property size
    9,746 SF
    Property type
    Office buildings
    APN
    039-0001-0011-00
    APU
    390001001100

    Description

    This established Cincinnati restaurant, located at 3340 Erie Avenue in Hamilton County, Ohio (zip code 45208), presents a unique investment opportunity. Priced at $100,000, this 4,968 square foot space boasts seating for 110 patrons and includes ample rear parking. The property features a fully equipped kitchen and all furniture, fixtures, and equipment (FF&E – a detailed inventory list is available). The restaurant has been operating successfully for 47 years and benefits from a valuable full D5/D6 liquor license, permitting Sunday sales. Recent updates include renovated restrooms. The current owner is pursuing other ventures, making this a turnkey operation for a new owner. The interior artwork, valued at over $20,000, is available for separate purchase. The property is offered with a new NNN lease featuring landlord participation and a competitive rental rate for the market. The lease includes options for the tenant. This location offers the flexibility to continue the existing concept or easily transition to a new one. This is a rare chance to acquire a well-established business in a highly desirable Cincinnati neighborhood.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $415,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $697,000
      Market price range: $698k - $2.25M
      AI Estimate
      $701,000
      Market price range: $698k - $1.84M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $935,000
      COMMERCIAL (GENERAL)
      $860,000
      NEIGHBORHOOD: SHOPPING CENTER
      $845,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Cincinnati
    County
    Hamilton
    State
    Ohio
    Longitude
    -84.423
    Latitude
    39.1417
    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
    $23,980
    $66,843
    $225,040
    $291,883
    -
    $190,980
    $642,970
    $833,950

    Comparable in this City

    • Value Estimation by Request
      1,987 SF

      1995 Madison Rd

      OFFICE BUILDING • 1,987 SF
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      View Details
    • Value Estimation by Request
      2,054 SF

      3414 Erie Ave

      OFFICE BUILDING • 2,054 SF
      3414 Erie Ave, Cincinnati, OH 45208-1743
      View Details
    • Value Estimation by Request
      2,268 SF

      2134 Madison Rd

      OFFICE BUILDING • 2,268 SF
      2134 Madison Rd, Cincinnati, OH 45208-3239
      View Details
    • Value Estimation
      $725,000
      6,368 SF

      3975 Erie Ave

      OFFICE BUILDING • 6,368 SF
      3975 Erie Ave, Cincinnati, OH 45208-1961
      View Details
    • Value Estimation
      $705,000
      4,050 SF

      3979 Erie Ave

      OFFICE BUILDING • 4,050 SF
      3979 Erie Ave, Cincinnati, OH 45208-1908
      View Details
    • Value Estimation by Request
      0.12 Acres

      2679 Madison Rd

      OFFICE BUILDING • 0.12 Acres
      2679 Madison Rd, Cincinnati, OH 45208
      View Details

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    Similar Nearby for Lease

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      Erie Avenue Office Building

      Two-level office building with parking and signage on Erie Avenue.
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      Adaptable Office Space in Cincinnati

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      View Details
    View Listing
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    Cincinnati, OH 45208
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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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    3340 Erie Ave, Cincinnati, OH, 45208

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