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

    601 Township Ave Cincinnati, OH 45216-2341

    • Flex space
    • 11,613 SF
    • 0.97 lot acres
    OFF-MARKET
    Last Sale
    Jun 07, 2022
    $675,000
    Value Estimations
    $770,000
    Show details
    Cap Rate Potential
    7.5%
    Flex space
    Location Intelligence
    Property ID
    US66-0834281
    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

    • Cincinnati Wholesale Ice Cream / Grocery & Convenience Store / Specialty Food Shop

    Property Details for 601 Township Ave

    Year built
    1967
    Lot size
    0.97 lot acres
    Property size
    11,613 SF
    Property type
    Flex space
    APN
    661-0004-0118-00
    APU
    6610004011800

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $755,000
      ML approach
      $755,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $950,000
      6.5%
      $875,000
      7%
      $810,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $874,000
      Market price range: $207k - $875k

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $745,000
      Current use
      OFFICE BUILDING
      $1,235,000
      Change: +66% Conversion: Difficult
      RETAIL STORES
      $1,115,000
      Change: +50% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $1,005,000
      Change: +35% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $975,000
      Change: +31% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Cincinnati
    County
    Hamilton
    State
    Ohio
    Longitude
    -84.4949
    Latitude
    39.1857
    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
    $21,468
    $27,324
    $208,925
    $236,249
    -
    $78,070
    $596,930
    $675,000

    Comparable in this City

    • Value Estimation by Request
      0.03 Acres

      14 73rd St

      LIGHT INDUSTRIAL • 0.03 Acres
      14 73rd St, Cincinnati, OH 45216-2038
      View Details
    • Value Estimation by Request
      0.14 Acres

      7301 Lebanon St

      LIGHT INDUSTRIAL • 0.14 Acres
      7301 Lebanon St, Cincinnati, OH 45216-2040
      View Details
    • Value Estimation by Request
      0.42 Acres

      30 Compton Rd

      LIGHT INDUSTRIAL • 0.42 Acres
      30 Compton Rd, Cincinnati, OH 45216-1014
      View Details
    • Value Estimation by Request
      4,920 SF

      7225 Longview St

      LIGHT INDUSTRIAL • 4,920 SF
      7225 Longview St, Cincinnati, OH 45216-2018
      View Details
    • Value Estimation by Request
      5,300 SF

      7217 Longview St

      LIGHT INDUSTRIAL • 5,300 SF
      7217 Longview St, Cincinnati, OH 45216-2018
      View Details
    • Value Estimation by Request
      5,000 SF

      25 76th St

      LIGHT INDUSTRIAL • 5,000 SF
      25 76th St, Cincinnati, OH 45216-1611
      View Details

    Similar Nearby for Sale

    • $225,000

      Multi-Unit Flex Building Investment

      Well-maintained flex building with income potential in Springfield Township.
      8201 Vine St, Cincinnati, OH 45216
      View Details
    • New
      $175,000
      Pending

      Cincinnati Multifamily Property For Sale

      Multifamily property in Cincinnati, Ohio, suitable for investment.
      118 North Bend Rd, Cincinnati, OH 45216
      View Details
    • $145,000
      0.79 Acres

      Commercial Land in Cincinnati, OH

      Large fenced lot with building, suitable for multi-use.
      7119 Van Kirk Ave, Cincinnati, OH 45216
      View Details
    • $399,000
      1,350 SF

      Elmwood Place Restaurant Opportunity

      Remodeled restaurant building with frontage and ample parking.
      410 Walnut St, Elmwood Place, OH 45216
      View Details
    • $350,000
      5,625 SF

      Mixed-Use Building in Elmwood Place

      Mixed-use building with retail space and residential apartments.
      6019 Vine St, Elmwood Place, OH 45216
      View Details
    • Contact for pricing
      12,800 SF

      Retail Building in Elmwood Place

      Retail building with business zoning and rental income potential.
      6018 Vine St, Elmwood Place, OH 45216
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      33,000 SF

      Prime Cincinnati Office/Warehouse

      33,000 SF, flexible space available.
      148 Caldwell Dr, Cincinnati, OH 45216
      View Details
    • Contact for pricing
      61,635 SF

      Cincinnati Warehouse - 61,635 SF

      Modern Warehouse, 61,635 SF, Cincinnati
      5609 Center Hill Ave, Cincinnati, OH 45216
      View Details
    • $5,500 /Mo
      1,488 SF

      Retail Space on Paddock Road

      Retail space available for lease in Cincinnati, Ohio.
      7329 Paddock Rd, Cincinnati, OH 45216
      View Details
    • Contact for pricing
      1,570 SF

      Downtown Cincinnati Retail Space

      Retail space in Cincinnati's Entertainment District, 1570 square feet.
      645 Walnut St, Cincinnati, OH 45216
      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.
    601 Township Ave
    Cincinnati, OH 45216-2341
    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.