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    Property profile & analytics

    415 Greenwell Ave Cincinnati, OH 45238

    • Warehouses
    • 16,766 SF
    • 0.54 lot acres
    For Lease
    View listing
    $4 SF/Yr
    Last Sale
    Nov 27, 2024
    Value Estimations
    $375,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-0401836
    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

    • Dr. Kevin C. Meyer, MD / Doctor
    • Consult Inc / Business Management Consultant
    • Dr. Brian M. Treon, MD / Doctor
    • Dr. Michael J. Shugar, MD / Doctor
    • Dr. Gray E. Gries, MD / Doctor

    Property Details for 415 Greenwell Ave

    Year built
    1961
    Lot size
    0.54 lot acres
    Property size
    16,766 SF
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    540-0041-0494-00
    APU
    5400041049400

    Description

    This exceptional 29,800 square foot single-tenant warehouse, located at 415 Greenwell Ave in Cincinnati, Ohio, presents a compelling investment opportunity. The property boasts a two-story building with one loading dock and two convenient drive-in doors, ensuring efficient operations. Ample parking is available with 60 spaces. Recent improvements significantly enhance the property's functionality and appeal. These upgrades include brand new drive-in doors, an upgraded electrical system, and energy-efficient LED lighting throughout. The expansive lot has been recently paved, sealed, and striped, providing a well-maintained and attractive exterior. Further enhancing the property's appeal is a newly landscaped outdoor gathering area. Situated in Hamilton County, Ohio, with a convenient Cincinnati address and zip code 45238, this property offers easy access to major transportation routes and a thriving business community. The property is classified as Retail, Industrial, with a subtype of Warehouse, Distribution, and Flex, making it suitable for a variety of uses. This single-tenant building provides a unique opportunity for businesses seeking a well-maintained and upgraded industrial space in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $365,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $527,000
      Market price range: $320k - $959k

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

    Location Insight

    • Map
    • Local Demand
    City
    Cincinnati
    County
    Hamilton
    State
    Ohio
    Longitude
    -84.606
    Latitude
    39.0961
    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
    $16,143
    $41,828
    $159,834
    $201,662
    -
    $119,510
    $456,670
    $576,180

    Comparable in this City

    • Value Estimation
      $4,500,000
      3.44 Acres

      5242 Crookshank Rd

      MINI-WAREHOUSE, STORAGE • 3.44 Acres
      5242 Crookshank Rd, Cincinnati, OH 45238
      View Details
    • Value Estimation
      $525,000
      1,598 SF

      4280 Delhi Rd

      MINI-WAREHOUSE, STORAGE • 1,598 SF
      4280 Delhi Rd, Cincinnati, OH 45238-5829
      View Details
    • Value Estimation
      $415,000
      4.57 Acres

      5151 Glencrossing Way

      MINI-WAREHOUSE, STORAGE • 4.57 Acres
      5151 Glencrossing Way, Cincinnati, OH 45238-3363
      View Details
    • Value Estimation
      $260,000
      1,000 SF

      4909 Heuwerth Ave

      MINI-WAREHOUSE, STORAGE • 1,000 SF
      4909 Heuwerth Ave, Cincinnati, OH 45238
      View Details
    • Value Estimation
      $725,000
      48,600 SF

      3700 Muddy Crk Rd

      MINI-WAREHOUSE, STORAGE • 48,600 SF
      3700 Muddy Crk Rd, Cincinnati, OH 45238-2059
      View Details
    • Value Estimation
      $515,000
      12,000 SF

      4333 Mayhew Ave

      WAREHOUSE, STORAGE • 12,000 SF
      4333 Mayhew Ave, Cincinnati, OH 45238-5596
      View Details

    Similar Nearby for Sale

    • $1,400,000
      0.79 Acres

      Versatile Flex Space in Cincinnati

      Multi-use space with office, warehouse, and manufacturing capabilities.
      5095 Crookshank Rd, Cincinnati, OH 45238
      View Details
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      1.44 Acres, High-Traffic Location, Development Potential
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    • $319,000
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      Colonial Two-Family Home

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    • $2,250,000
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      Fully Leased Office Building

      Stable cash flow with creditworthy tenants in resilient property.
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      Cincinnati Restaurant Building For Sale

      Vacant restaurant building with ample parking near retail corridor.
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    • $699,000
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      Mixed-Use Property with Bar Included

      Mixed-use property with bar, apartments, barber shop, and office.
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    Similar Nearby for Lease

    • $4 SF/Yr
      26,900 SF

      Versatile Flex Space Available

      26,900 SF flex space with office and warehouse.
      415 Greenwell Ave, Cincinnati, OH 45238
      View Details
    • $14 SF/Yr
      10,004 SF

      Rapid Run Rd Medical Office

      Move-in ready medical office suite.
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    • Contact for pricing
      8,947 SF

      Retail and Office Space Available

      Multi-unit retail/office space for lease in Cincinnati, Ohio.
      2010-2040 Anderson Ferry Rd, Cincinnati, OH 45238
      View Details
    • $11 SF/Yr
      235,433 SF

      Glenway Crossing Retail Center

      Westwood, Cincinnati: Retail & Office Space
      5100 Glencrossing Way, Cincinnati, OH 45238
      View Details
    • Contact for pricing
      15,620 SF

      235,433 SF Shopping Center

      235,433 SF shopping center in Hamilton County, Ohio.
      5030-5150 Glencrossing Way, Cincinnati, OH 45238
      View Details
    • $10 SF/Yr
      1,880 SF

      Retail Space with Private Office

      Retail space featuring a private office and ADA restroom.
      5081-5091 Glencrossing Way, Cincinnati, OH 45238
      View Details
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    415 Greenwell Ave
    Cincinnati, OH 45238
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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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