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

    3941 Banks Rd Cincinnati, OH 45245-2600

    • Garden apartment buildings
    • 2,988 SF
    • 0.43 lot acres
    OFF-MARKET
    Last Sale
    Jul 03, 2024
    Value Estimations
    $265,000
    Show details
    Cap Rate Potential
    9.2%
    Garden apartment buildings
    Location Intelligence
    Property ID
    US66-3996500
    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

    • Garden apartment buildings

    Property Details for 3941 Banks Rd

    Year built
    1969
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.43 lot acres
    Property size
    2,988 SF
    Property type
    Garden apartment buildings
    APN
    41-32-19.-139
    APU
    413219139

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $245,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $370,000
      6.5%
      $340,000
      7%
      $315,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $232,000
      Market price range: $107k - $574k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $250,000
      Current use
      MEDICAL BUILDING
      $345,000
      Change: +38% Conversion: Moderate
      OFFICE BUILDING
      $315,000
      Change: +26% Conversion: Moderate
      RETAIL STORES
      $285,000
      Change: +14% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $265,000
      Change: +5% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $260,000
      Change: +3% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Cincinnati
    County
    Clermont
    State
    Ohio
    Longitude
    -84.2769
    Latitude
    39.0627
    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
    $4,272
    $13,300
    $49,320
    $62,620
    -
    $38,000
    $140,900
    $178,900

    Comparable in this City

    • Value Estimation
      $975,000
      175,043 SF

      4380 Eastgate Blvd

      GARDEN APT, COURT APT (5+ UNITS) • 175,043 SF
      4380 Eastgate Blvd, Cincinnati, OH 45245-1793
      View Details
    • Value Estimation
      $665,000
      6,304 SF

      3840 Rohling Oaks Dr

      GARDEN APT, COURT APT (5+ UNITS) • 6,304 SF
      3840 Rohling Oaks Dr, Cincinnati, OH 45245-3700
      View Details
    • Value Estimation
      $560,000
      7,100 SF

      4100 Long Acres Dr

      GARDEN APT, COURT APT (5+ UNITS) • 7,100 SF
      4100 Long Acres Dr, Cincinnati, OH 45245-1641
      View Details
    • Value Estimation
      $510,000
      17,936 SF

      4319 Gln Este Withamsville Rd

      GARDEN APT, COURT APT (5+ UNITS) • 17,936 SF
      4319 Gln Este Withamsville Rd, Cincinnati, OH 45245-1516
      View Details
    • Value Estimation
      $325,000
      6,032 SF

      3924 Banks Rd

      GARDEN APT, COURT APT (5+ UNITS) • 6,032 SF
      3924 Banks Rd, Cincinnati, OH 45245-2635
      View Details
    • Value Estimation
      $375,000
      6,840 SF

      3819 Rohling Oaks Dr

      GARDEN APT, COURT APT (5+ UNITS) • 6,840 SF
      3819 Rohling Oaks Dr, Cincinnati, OH 45245-2752
      View Details

    Similar Nearby for Sale

    • $584,000

      Land in Prime Cincinnati Location

      Land with frontage and high traffic count in Cincinnati.
      915 Ohio Pike, Cincinnati, OH 45245
      View Details
    • $1,075,000
      5,954 SF

      Medical Building on Major Thoroughfare

      5,954 SF medical building with expansion potential on 2.87 acres.
      872 Ohio Pike, Cincinnati, OH 45245
      View Details
    • $395,000
      1.00 Acre

      Eastgate Blvd Commercial Land Parcel

      One-acre commercial lot, prime Cincinnati location.
      4560 Eastgate Blvd, Cincinnati, OH 45245
      View Details
    • Contact for pricing

      Land with Prominent Highway Visibility

      Commercial land with high visibility and hospital proximity.
      3221 Omni Dr, Cincinnati, OH 45245
      View Details
    • Contact for pricing
      10.84 Acres

      Eastgate Land: Premier Commercial Site

      10.84 Acres, I-275 Visibility, Near Mercy Hospital
      0 Aicholtz Rd, Cincinnati, OH 45245
      View Details
    • $395,000

      Land Adjacent to Kroger Center

      Commercial land with high traffic and development potential.
      4560 Eastgate Blvd, Cincinnati, OH 45245
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      16,750 SF

      Eastgate Square Retail Center

      Prime Eastgate retail space available.
      4394 Eastgate Square Dr, Cincinnati, OH 45245
      View Details
    • $10 SF/Yr
      12,000 SF

      Versatile Retail and Warehouse Space

      Flex retail and warehouse space with high traffic exposure.
      885 Ohio Pike, Cincinnati, OH 45245
      View Details
    • Contact for pricing
      55,984 SF

      Eastgate Mall Retail Spaces Available

      Multiple retail spaces, prime Cincinnati location.
      4601 Eastgate Blvd, Cincinnati, OH 45245
      View Details
    • Contact for pricing
      1,913 SF

      Meijer In-Store Retail Space

      Cincinnati Retail Space Available
      888 Eastgate Dr, Cincinnati, OH 45245
      View Details
    • $15 SF/Yr
      54,675 SF

      Eastgate Commerce Center Retail Space

      Class B retail space in Eastgate Commerce Center available for rent.
      4440 Glen Este Withamsville Rd, Cincinnati, OH 45245
      View Details
    • Contact for pricing
      11,653 SF

      Prime Cincinnati Medical Office Space

      11,653 SF Medical Office For Lease
      665 Ohio Pike State Rte 125, Cincinnati, OH 45245
      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.
    3941 Banks Rd
    Cincinnati, OH 45245-2600
    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.