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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    55 Progress Pl Cincinnati, OH 45246-1715

    • Medical offices
    • 13,032 SF
    • 2.00 lot acres
    OFF-MARKET
    Last Sale
    Mar 29, 2022
    $1,250,000
    Value Estimations
    $1,290,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-6051065
    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

    • Judy Lawson, NP / Dermatologist
    • Turner Shannon / Physical Therapist
    • Occ Med Care: Loewenstine Virginia A MD / Doctor
    • Dr. Kevin J. Grannan, MD / Doctor
    • John Gardiner, PA / Physician Assistant

    Property Details for 55 Progress Pl

    Year built
    1997
    Lot size
    2.00 lot acres
    Property size
    13,032 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    599-0030-0395-00
    APU
    5990030039500

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,395,000
      ML approach
      $1,350,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $977,000
      Market price range: $943k - $2.41M
      AI Estimate
      $883,000
      Market price range: $711k - $2.08M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $1,515,000
      Current use
      RESTAURANT
      $2,170,000
      Change: +43% Conversion: Difficult
      RETAIL STORES
      $1,250,000
      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
    -84.4668
    Latitude
    39.2975
    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
    $22,046
    $215,884
    $101,850
    $317,734
    -
    $616,810
    $291,000
    $907,810

    Comparable in this City

    • Value Estimation
      $2,790,000
      1,052 SF

      315 Kemper Rd

      MEDICAL BUILDING • 1,052 SF
      315 Kemper Rd, Cincinnati, OH 45246-3003
      View Details
    • Value Estimation
      $285,000
      0.60 Acres

      212 Sharon Rd

      MEDICAL BUILDING • 0.60 Acres
      212 Sharon Rd, Cincinnati, OH 45246-4137
      View Details
    • Value Estimation
      $760,000
      4,796 SF

      12029 Sheraton Ln

      MEDICAL BUILDING • 4,796 SF
      12029 Sheraton Ln, Cincinnati, OH 45246-1611
      View Details
    • Value Estimation
      $400,000
      9,039 SF

      1275 Kemper Rd

      MEDICAL BUILDING • 9,039 SF
      1275 Kemper Rd, Cincinnati, OH 45246-3901
      View Details
    • Value Estimation
      $510,000
      5,292 SF

      11440 Lippelman Rd

      MEDICAL BUILDING • 5,292 SF
      11440 Lippelman Rd, Cincinnati, OH 45246-4098
      View Details
    • Value Estimation
      $285,000
      4,793 SF

      360 Glensprings Dr

      MEDICAL BUILDING • 4,793 SF
      360 Glensprings Dr, Cincinnati, OH 45246-2304
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      11,141 SF

      Former Day-Care/Office/Medical Building For Sale

      Stand-alone 11,141 SF building suitable for day-care, office, or medical.
      1275 E Kemper Rd, Cincinnati, OH 45246
      View Details
    • Contact for pricing
      138,835 SF

      Cincinnati Office Building For Sale

      Office building with convenient highway access and signage opportunities.
      25 Merchant St, Cincinnati, OH 45246
      View Details
    • $900,000
      7.64 Acres

      Prime Cincinnati Office Land

      7.6-acre parcel, excellent location.
      1141 Kemper Rd, Cincinnati, OH 45246
      View Details
    • Contact for pricing
      174,544 SF

      Office Building in Cincinnati, OH

      Office building with 43,638 SF available for lease.
      55 Merchant St, Cincinnati, OH 45246
      View Details
    • Contact for pricing
      5,180 SF

      Visible Office Space Available

      General office space with private offices and exterior signage.
      12124 Sheraton Ln, Cincinnati, OH 45246
      View Details
    • Contact for pricing

      Mixed-Use Development Opportunity

      Multiple parcels available in master-planned development for sale or lease.
      300 East Kemper Rd, Cincinnati, OH 45246
      View Details

    Similar Nearby for Lease

    • $5 SF/Yr
      6,249 SF

      Cincinnati Office Space for Lease

      Flexible workspace solutions in prime location.
      11260 Chester Rd, Cincinnati, OH 45246
      View Details
    • $9 SF/Yr
      81,971 SF

      Tri County Parkway Office Space

      Prime Office Suites, Abundant Parking
      175 Tri County Pkwy, Springdale, OH 45246
      View Details
    • $11 SF/Yr
      2,351 SF

      Seven-Story Office Building For Lease

      Office space available in a seven-story building with amenities.
      11499 Chester Rd, Cincinnati, OH 45246
      View Details
    • Contact for pricing
      13,374 SF

      Class A Office Space Available

      89,327 SF Class A office space for rent.
      135 Merchant St, Cincinnati, OH 45246
      View Details
    • $9 SF/Yr
      107,842 SF

      Prime Springdale Office Space

      107,842 SF Office Building, Multiple Suites Available
      110 Boggs Ln, Springdale, OH 45246
      View Details
    • $9 SF/Yr
      38,154 SF

      Tri County Parkway Office Space

      Prime Office Suites Available Now
      130 Tri County Pkwy, Cincinnati, OH 45246
      View Details
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    55 Progress Pl
    Cincinnati, OH 45246-1715
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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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