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Property profile & analytics
FOR LEASE
Office buildings
4242 Airport Rd Cincinnati, OH 45226
Entity Owned
20-yr Hold
~
Est. High Equity
Property ID
US66-0084508
For Lease
1 / 38
$15 SF/Yr
4242 Airport Rd, Cincinnati, OH 45226
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Property summary
AI-generated overview
The Lunken Executive Building, a Class B office property located at 4242 Airport Rd, Cincinnati, OH 45226, offers diverse office spaces ideal for various business needs. This single, one-story building, constructed in 1971 and renovated in 2010, encompasses 12,096 square feet and sits on 0.23 acres of land. The building features 14 suites, with options ranging from a minimum of 250 square feet to a maximum contiguous space of 1,100 square feet
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1971
Total area
12,240 SF
Lot
0.23 ac (10,019 SF)
APN
013-0003-0025-00
UPID
US66-0084508
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Osmic Enterprises Inc Production Facility Factory
-
(W)Holistic Approach to Living-Medical Massage Cincinnati Alternative Medicine Practice Spa & Massage Center
-
ELM Mental Wellness Crisis Center Medical Clinic
-
Lunken Executive Building Real Estate Agency
-
SNA Electric Engineer
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$877k
Blend (final)
Blend
$665k
Owner & transaction history
Space Changes Construction LLC · 20 yrs held
Space Changes Construction LLC
since 2005
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Cincinnati submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cincinnati submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,080,000
Change: -17% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$1,060,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$665k
Range $599k – $732k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$54 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$16,996
Tax year 2023
Assessed value
$206,724
Assessed 2023
Previous assessed
$198,786
+4.0% YoY
Effective rate
8.22%
On assessed value
Assessed land
$8,029
Assessed improvement
$198,695
Land market value
$22,940
Improvement market value
$567,700
Total market value
$590,640
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
For Lease
Year built
1971
Heating
YES
Stories
3
Rooms
11
Total area
12,240 SF
Lot
0.23 ac (10,019 SF)
APN
013-0003-0025-00
UPID
US66-0084508
Jurisdiction
HAMILTON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$1.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.1M
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1971
Heating
YES
Stories
3
Rooms
11
Lot
0.23 ac
Current owner
From public records · entity-resolved
Space Changes Construction LLC
Entity
Mailing address
2618 OBSERVATORY AVE, CINCINNATI, OH 45208-2008
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 1, 2005
$550,000
Space Changes Construction LLC
Precision Built Corp
Warranty Deed
$525,000 · Union Fsb
Jun 28, 2002
$400,000
Precision Built Corp
Labat Co
Grant Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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