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    Property profile & analytics

    3636 Reading Rd Cincinnati, OH 45229

    • Commercial real estate
    • 0.19 lot acres
    For Sale
    View listing
    $379,900
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-5764404
    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

    • Commercial real estate

    Property Details for 3636 Reading Rd

    Year built
    1900
    Lot size
    0.19 lot acres
    Property type
    Commercial real estate

    Description

    This stabilized, four-unit apartment building presents a fantastic investment opportunity in Cincinnati's Avondale neighborhood. The property, located at 3636 Reading Rd, is a three-story building constructed in 1900 and extensively renovated in 2023. The comprehensive renovation included new windows, electrical system, plumbing, flooring, kitchens, and bathrooms. A new sewer line was also installed in 2023. The building sits on a 0.19-acre lot and is zoned for multi-family use. The unit mix consists of two one-bedroom units renting for $825 per month, one two-bedroom unit renting for $1,025 per month, and one three-bedroom unit renting for $1,325 per month. Currently boasting 100% occupancy, this property offers immediate cash flow. Its convenient location is adjacent to a neighborhood recreation center and is situated on a bus line, enhancing its appeal to tenants. The asking price is $414,900, representing a price per unit of $103,725. This is a turnkey investment opportunity with strong potential for future appreciation. The property is free and clear of any ground lease.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Cincinnati
    County
    Hamilton
    State
    Ohio
    Longitude
    -84.487926846788
    Latitude
    39.149374052565

    Comparable in this City

    • $229,000

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      Paddock Hills Duplex Opportunity

      Value-add duplex in Cincinnati with upside potential.
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    • $379,900
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      Avondale Four-Family Property

      Stabilized, fully occupied four-family property in Cincinnati's Avondale neighborhood.
      3636 Reading Rd, Cincinnati, OH 45229
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    • $110,000
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      Rehab Opportunity in Cincinnati, OH

      Full rehab opportunity with major investments already made.
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    • $50,000

      Ready-to-Build Lots Near University

      Land lots suitable for building near hospitals and universities.
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    • $4,000,000
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      Industrial Property on Paddock Rd

      62,748 SF industrial property available for sale.
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    Similar Nearby for Sale

    • $229,000

      Income-Ready Triplex in Cincinnati, OH

      Income-generating triplex with long-term leases and convenient location.
      567 Stewart Pl, Cincinnati, OH 45229
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      Paddock Hills Duplex Opportunity

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      4518 Barbara Pl, Cincinnati, OH 45229
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    • $379,900
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      Avondale Four-Family Property

      Stabilized, fully occupied four-family property in Cincinnati's Avondale neighborhood.
      3636 Reading Rd, Cincinnati, OH 45229
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    • $110,000
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      Rehab Opportunity in Cincinnati, OH

      Full rehab opportunity with major investments already made.
      533 Rockdale Ave, Cincinnati, OH 45229
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    • $4,000,000
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      Industrial Property on Paddock Rd

      62,748 SF industrial property available for sale.
      4612 Paddock Rd, Cincinnati, OH 45229
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    • $50,000

      Ready-to-Build Lots Near University

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    Similar Nearby for Lease

    • $11 SF/Yr
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      Office Space Available For Rent

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    • $11 SF/Yr
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      Retail Space Available For Rent

      5400 SF retail space for rent in Cincinnati, OH.
      4030 Reading Rd, Cincinnati, OH 45229
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    • $15 SF/Yr
      75,000 SF

      Avondale Town Center Retail Space

      Mixed-use development with retail space in Cincinnati's Avondale neighborhood.
      3539-3559 Reading Rd, Cincinnati, OH 45229
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    Cincinnati, OH 45229
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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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