6700 Vine St Cincinnati, OH 45216-2026
- Office buildings
- 5,597 SF
- 0.16 lot acres
Nov 10, 2022
Current Use by Public Records
- Jose's Painting And Handyman Services / Painter
- Joses painting and Handyman Services 1 / Painter / Plasterer
Property Details for 6700 Vine St
- Year built
- 1963
- Lot size
- 0.16 lot acres
- Property size
- 5,597 SF
- Property type
- Office buildings
- APN
- 241-0003-0139-00
- APU
- 2410003013900
Description
This three-story, 5,600 sq ft office building in Cincinnati, OH (45216), presents a compelling value-add investment opportunity. Located at 6700 Vine St, it's conveniently situated 8 minutes from Wyoming and 14 minutes from downtown. The property, built in 1963 with various renovations, comprises three units. A stable childcare center currently occupies a portion of the first floor and the entire lower level, generating approximately $3600 monthly rent. A turnkey, 1,400 sq ft suite on the first floor is vacant and ready for immediate occupancy. Additionally, a 2,000+ sq ft vacant space on the second floor offers significant potential for build-out and lease-up. Detailed floor plans are available. The current NOI is $32,485, with a pro-forma NOI of $68,485, yielding an 8.90% cap rate and a pro-forma cap rate of 18.76%. Annual taxes are $6,841, and annual insurance is $3,540. The building is currently self-managed, and the childcare tenant is responsible for their own utilities. This property offers a blend of immediate income and significant upside potential for owner-users or investors. The asking price is $365,000.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Cincinnati
- County
- Hamilton
- State
- Ohio
- Longitude
- -84.483
- Latitude
- 39.1912
- CBSA code
- 17140
- CBSA name
- CINCINNATI-MIDDLETOWN, OH-KY-IN METROPOLITAN STATISTICAL AREA
