New search
Property profile & analytics
OFF-MARKET
Estimated value
$1,955,000
Medical Office Space
703 State Rte 28, Milford, OH 45150-5021
Entity Owned
2-yr Hold
Free & Clear
Property ID
US66-6016681
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1950
Construction
STEEL FRAME
Total area
8,290 SF
Lot
0.92 ac (40,075 SF)
APN
21-07-41.-106
UPID
US66-6016681
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.51M
Comparable Approach
Comparable
$2.23M
Blend (final)
Blend
$1.96M
Owner & transaction history
Zr3 Properties LLC · 2 yrs held
Zr3 Properties LLC
since 2024
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.0M
+8.6%
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 Milford submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Milford 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%
$1,630,000
6.5%
$1,505,000
7%
$1,395,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$2,720,000
Current use
RESTAURANT
$2,950,000
Change: +9% · Conversion: Difficult
Blend value · Realmo final
$1.96M
Range $1.76M – $2.15M · ±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
$236 / 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
$19,947
Tax year 2023
Assessed value
$230,340
Assessed 2023
Previous assessed
$230,340
+0.0% YoY
Effective rate
8.66%
On assessed value
Assessed land
$51,520
Assessed improvement
$178,820
Land market value
$147,200
Improvement market value
$510,900
Total market value
$658,100
Applied tax rate
21.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1950
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Rooms
8
Bathrooms
3
Total area
8,290 SF
Lot
0.92 ac (40,075 SF)
APN
21-07-41.-106
UPID
US66-6016681
Jurisdiction
CLERMONT
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
MEDICAL BUILDING Current
Est. value
$2.7M
RESTAURANT
Est. value
$3.0M
MEDICAL BUILDING Current
RESTAURANT
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
1950
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
8
Bathrooms
3
Lot
0.92 ac
Current owner
From public records · entity-resolved
Zr3 Properties LLC
Entity
Free & Clear · 2 yrs held
Mailing address
221 E 4TH ST STE #2500, CINCINNATI, OH 45202-1194
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 13, 2024
—
Zr3 Properties LLC
Zr2 Properties LLC
Warranty Deed
—
Jun 2, 2023
—
Zr2 Properties LLC
—
Deed
related
$220,000 · Ptw Funding II LLC
Mar 29, 2023
$732,500
Zr2 Properties LLC
Hi Five Properties LLC
Warranty Deed
$680,500 · Civista Bank
Dec 26, 2017
—
Hi Five Properties LLC
—
Deed
related
$156,000 · First Savings Bank
Aug 17, 2016
$3,500,000
Hi Five Properties LLC
D & D Regional Enterprises LLC
Limited Warranty Deed
$395,000 · Peoples First Savings Bank
Oct 7, 2008
$440,000
D & D Regional Ents LLC
Lowe,coleen M
Grant Deed
$400,000 · Coleen M Lowe
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 703 State Rte 28?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
