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

    961 Mcmillan St Cincinnati, OH 45206-2077

    • Retail residential properties
    • 23,366 SF
    • 0.18 lot acres
    OFF-MARKET
    Value Estimations
    $2,410,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2147871
    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

    • Greg Landsman Congressional District Office / Government Office
    • Trevarren Flats / Apartment Building
    • The Cure - Cincinnati / Clothing & Fashion Store / (Bike/Boat/Book/etc) Store

    Property Details for 961 Mcmillan St

    Year built
    1885
    Lot size
    0.18 lot acres
    Property size
    23,366 SF
    Property type
    Retail residential properties
    APN
    067-0001-0124-00
    APU
    670001012400

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,618,000
      Market price range: $1.10M - $2.62M
      AI Estimate
      $2,145,000
      Market price range: $892k - $2.15M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,810,000
      Current use
      RESTAURANT
      $3,890,000
      Change: +115% Conversion: Difficult
      MEDICAL BUILDING
      $2,715,000
      Change: +50% Conversion: Easy
      OFFICE BUILDING
      $2,480,000
      Change: +37% Conversion: Easy
      RETAIL STORES
      $2,240,000
      Change: +24% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $2,025,000
      Change: +12% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $1,965,000
      Change: +8% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Cincinnati
    County
    Hamilton
    State
    Ohio
    Longitude
    -84.4885
    Latitude
    39.1255
    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
    $8,273
    $13,688
    $553,829
    $567,517
    -
    $39,110
    $1,582,370
    $1,621,480

    Comparable in this City

    • Value Estimation
      $590,000
      11,919 SF

      2501 May St

      STORES & APARTMENTS • 11,919 SF
      2501 May St, Cincinnati, OH 45206-1900
      View Details
    • Value Estimation by Request
      6,615 SF

      2723 Woodburn Ave

      STORES & APARTMENTS • 6,615 SF
      2723 Woodburn Ave, Cincinnati, OH 45206-1769
      View Details
    • Value Estimation by Request
      14,030 SF

      2805 Woodburn Ave

      STORES & APARTMENTS • 14,030 SF
      2805 Woodburn Ave, Walnut Hills, OH 45206-1748
      View Details
    • Value Estimation
      $585,000
      16,710 SF

      2727 Woodburn Ave

      STORES & APARTMENTS • 16,710 SF
      2727 Woodburn Ave, Cincinnati, OH 45206-1724
      View Details
    • Value Estimation
      $780,000
      7,236 SF

      648-650 Mcmillan Ave

      STORES & APARTMENTS • 7,236 SF
      648-650 Mcmillan Ave, Cincinnati, OH 45206
      View Details
    • Value Estimation by Request
      3,363 SF

      2809 Woodburn Ave

      STORES & APARTMENTS • 3,363 SF
      2809 Woodburn Ave, Walnut Hills, OH 45206-1750
      View Details

    Similar Nearby for Sale

    • $2,700,000
      22,000 SF

      Cincinnati Mixed-Use Investment

      100% Occupied, 8.5% Cap Rate
      2612 Gilbert Ave, Cincinnati, OH 45206
      View Details
    • $349,000
      0.21 Acres

      Mixed-Use Building in Cincinnati, OH

      Multi-family/commercial building with retail and apartment units.
      1628 Dexter Ave, Cincinnati, OH 45206
      View Details
    • $650,000
      11,170 SF

      Mixed-Use Investment Property

      Mixed-use property with residential units and commercial space.
      1200 Lincoln Ave, Cincinnati, OH 45206
      View Details
    • New
      $679,000
      4,099 SF

      Mixed-Use Investment Opportunity

      Turnkey mixed-use property in Walnut Hills with recent renovations.
      2340 Laredo Ave, Cincinnati, OH 45206
      View Details
    • $750,000

      Luxury Condo with Panoramic Views

      Stunning 14th-floor condo with city and park views.
      2121 Alpine Pl, Cincinnati, OH 45206
      View Details
    • Contact for pricing
      1.04 Acres

      Office & Warehouse Space Available

      15,000 sqft office and warehouse space for lease.
      2612 Gibert Ave, Cincinnati, OH 45206
      View Details

    Similar Nearby for Lease

    • $9 SF/Yr
      31,275 SF

      Walnut Hills Commercial Kitchen Space

      Commercial kitchen and flex space in Walnut Hills.
      2900 Gilbert Ave, Cincinnati, OH 45206
      View Details
    • $20 SF/Yr
      144,000 SF

      Class A Office Space Available

      144,000 SF of Class A office space for rent.
      45206 Usa, Cincinnati, OH 45206
      View Details
    • $24 SF/Yr
      15,207 SF

      Retail Space in Woodburn Exchange

      Street-level retail space in a high-investment area near multiple districts.
      2533 Woodburn Ave, Cincinnati, OH 45206
      View Details
    • Contact for pricing
      13,357 SF

      Office Building with Private Parking

      Office building with secure underground parking and energy-efficient systems.
      2090 Florence Ave, Cincinnati, OH 45206
      View Details
    • $4 SF/Yr
      50,192 SF

      Modern Office and Warehouse Space

      Flexible office and warehouse space in Cincinnati's thriving commercial area.
      2800 Gilbert Ave, Cincinnati, OH 45206
      View Details
    • Contact for pricing
      4,780 SF

      Prime Cincinnati Office Space

      Executive & Medical Suites Available
      2847 Woodburn Ave, Cincinnati, OH 45206
      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.
    961 Mcmillan St
    Cincinnati, OH 45206-2077
    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.