Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3838 Red Bank Rd Cincinnati, OH 45227-3413

    • Medical offices
    • 4,503 SF
    • 0.29 lot acres
    OFF-MARKET
    Last Sale
    Jun 08, 2022
    $358,000
    Value Estimations
    $395,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1253310
    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

    • Vet Hospital / Veterinary Care
    • Red Bank Veterinary Hospital / Veterinarian / Animal Hospital

    Property Details for 3838 Red Bank Rd

    Year built
    1969
    Lot size
    0.29 lot acres
    Property size
    4,503 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    523-0002-0139-00
    APU
    5230002013900

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $400,000
      ML approach
      $355,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $385,000
      Market price range: $326k - $832k
      AI Estimate
      $348,000
      Market price range: $246k - $720k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $525,000
      Current use
      OFFICE BUILDING
      $480,000
      Change: -9% Conversion: Easy
      RETAIL STORES
      $430,000
      Change: -17% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Cincinnati
    County
    Hamilton
    State
    Ohio
    Longitude
    -84.4047
    Latitude
    39.1446
    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
    $10,361
    $19,040
    $106,260
    $125,300
    -
    $54,400
    $303,600
    $358,000

    Comparable in this City

    • Value Estimation
      $355,000
      1.44 Acres

      4440 Red Bank Rd

      MEDICAL BUILDING • 1.44 Acres
      4440 Red Bank Rd, Cincinnati, OH 45227-2176
      View Details
    • Value Estimation
      $365,000
      2.66 Acres

      4460 Red Bank Rd

      MEDICAL BUILDING • 2.66 Acres
      4460 Red Bank Rd, Cincinnati, OH 45227-2172
      View Details
    • Value Estimation
      $380,000
      6,161 SF

      5050 Oaklawn Dr

      MEDICAL BUILDING • 6,161 SF
      5050 Oaklawn Dr, Cincinnati, OH 45227-1434
      View Details
    • Value Estimation
      $365,000
      2.45 Acres

      3964 Red Bank Rd

      MEDICAL BUILDING • 2.45 Acres
      3964 Red Bank Rd, Cincinnati, OH 45227-3408
      View Details
    • Value Estimation
      $375,000
      8,824 SF

      6825 Wooster Pike

      MEDICAL BUILDING • 8,824 SF
      6825 Wooster Pike, Cincinnati, OH 45227-4328
      View Details
    • Value Estimation
      $340,000
      0.63 Acres

      6100 Wooster Pike

      MEDICAL BUILDING • 0.63 Acres
      6100 Wooster Pike, Cincinnati, OH 45227-4209
      View Details

    Similar Nearby for Sale

    • $1,250,000
      13,100 SF

      Red Bank Road Office Investment

      Prime Cincinnati office building, high occupancy.
      3800 Red Bank Rd, Cincinnati, OH 45227
      View Details
    • $2,800,000
      11,250 SF

      ABS Building: Prime Cincinnati Office

      11,250 SF Office Building, Recently Renovated
      4850 Madison Rd, Cincinnati, OH 45227
      View Details
    • $700,000
      11,700 SF

      Madison Road Commercial Gem

      11,700 SF Office/Warehouse - $700K
      5629 Madison Rd, Cincinnati, OH 45227
      View Details
    • $695,000
      3,813 SF

      Madisonville Landmark Office Building

      Historic Office, 3,813 SF, $695,000
      6111 Madison Rd, Cincinnati, OH 45227
      View Details
    • Contact for pricing
      2,735 SF

      Wooster Pike Auto Shop Opportunity

      Vacant Auto Shop - Fairfax, OH
      6200 Wooster Pike, Cincinnati, OH 45227
      View Details
    • $4,500,000
      34,297 SF

      Turnkey Brewery and Distillery Opportunity

      Turnkey brewery and distillery with real estate for sale.
      3717 Jonlen Dr, Cincinnati, OH 45227
      View Details

    Similar Nearby for Lease

    • $168 SF/Yr
      70,000 SF

      Red Bank Expy Office Space

      Prime Cincinnati Office, 4,513 SF Available
      4760 Red Bank Expy, Cincinnati, OH 45227
      View Details
    • $22 SF/Yr
      1,942 SF

      Class A Medical Office Space

      Class A medical office space with ample parking and signage.
      4850 Red Bank Rd, Cincinnati, OH 45227
      View Details
    • $15 SF/Yr
      9,000 SF

      Prime Location for Medical/Retail/Office

      9,000 SF available in thriving retirement community.
      4900 Babson Pl, Cincinnati, OH 45227
      View Details
    • Contact for pricing
      3,879 SF

      Madisonville Site For Lease

      Located in the heart of Madisonville, dynamic property with applications.
      5539-5545 Madison Rd, Cincinnati, OH 45227
      View Details
    • $3,500 /Mo
      2,016 SF

      Multifunction Flex/Office/Retail Space Available

      Flex/office/retail building with overhead door and fenced storage.
      3550 Red Bank Rd, Cincinnati, OH 45227
      View Details
    • $4,250 /Mo
      1,896 SF

      Freestanding Building on Plainville Road

      Single tenant building suitable for retail, restaurant, or office use.
      4024 Plainville Rd, Cincinnati, OH 45227
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3838 Red Bank Rd
    Cincinnati, OH 45227-3413
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.