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Property profile & analytics
OFF-MARKET
Estimated value
$3,785,000
Warehouses
591 Wilmer Ave Cincinnati, OH 45226-1861
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US66-1449453
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1979
Total area
46,409 SF
Lot
3.5 ac (152,591 SF)
APN
014-0003-0005-00
UPID
US66-1449453
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
-
U Store-U Lock Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.95M
Blend (final)
Blend
$3.79M
Owner & transaction history
Merit Leasing & Sales INC · 9 yrs held
Merit Leasing & Sales INC
since 2016
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$5.4M
+87.6%
Office building
$4.9M
+71.4%
Retail stores
$4.5M
+54.9%
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
WAREHOUSE, STORAGE
$2,875,000
Current use
MEDICAL BUILDING
$5,390,000
Change: +88% · Conversion: Difficult
OFFICE BUILDING
$4,925,000
Change: +71% · Conversion: Difficult
RETAIL STORES
$4,450,000
Change: +55% · Conversion: Moderate
COMMERCIAL (GENERAL)
$4,105,000
Change: +43% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$4,025,000
Change: +40% · Conversion: Moderate
Blend value · Realmo final
$3.79M
Range $3.41M – $4.16M · ±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
$82 / 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
$47,858
Tax year 2023
Assessed value
$580,369
Assessed 2023
Previous assessed
$511,942
+13.4% YoY
Effective rate
8.25%
On assessed value
Assessed land
$102,448
Assessed improvement
$477,921
Land market value
$292,710
Improvement market value
$1,365,490
Total market value
$1,658,200
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1979
Heating
YES
Stories
1
Rooms
11
Total area
46,409 SF
Lot
3.5 ac (152,591 SF)
APN
014-0003-0005-00
UPID
US66-1449453
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
WAREHOUSE, STORAGE Current
Est. value
$2.9M
MEDICAL BUILDING
Est. value
$5.4M
OFFICE BUILDING
Est. value
$4.9M
RETAIL STORES
Est. value
$4.5M
COMMERCIAL (GENERAL)
Est. value
$4.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.0M
WAREHOUSE, STORAGE Current
MEDICAL BUILDING
OFFICE BUILDING
RETAIL STORES
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
1979
Heating
YES
Stories
1
Rooms
11
Lot
3.5 ac
Current owner
From public records · entity-resolved
Merit Leasing & Sales INC
Entity
Mailing address
591 WILMER AVE, CINCINNATI, OH 45226-1861
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 28, 2016
—
Merit Leasing & Sales INC
Ronald R Ayer
Warranty Deed
$1,022,613 · Riverhills Bank
May 1, 2013
—
Ronald Ayer
Merit Leasing & Sales INC A Ne
Grant Deed
$1,200,000 · Centerbank
—
—
Donald Ayer
—
Deed Of Trust
related
$500,000 · Ameriana Bank & Trust
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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