2612 Gilbert AveCincinnati, OH 45206

Property Details for 2612 Gilbert Ave

Lot size

0.02 AC

Property type

Commercial real estate

APN

067-0003-0075-00

APU

670003007500

Description

This exceptional mixed-use investment property, located at 2612 Gilbert Ave in Cincinnati, Ohio, presents a rare opportunity. The 22,000 square foot building, constructed in 1970 and renovated in 2017, sits on a 1.03-acre lot and boasts a strong 8.5% capitalization rate. Currently 100% occupied by two tenants under a triple-net (NNN) lease structure, the property offers significant stability. The primary tenant, Dohn Community High School, benefits from annual NOI increases of three percent. The secondary tenant, City Limits Laundromat, operates 24/7 and is part of a larger Cincinnati-based chain. Both tenants are backed by corporate guarantees, mitigating risk. The leases, with a remaining term of approximately two years, feature a five-year term and include rent bumps of 16% every five years. The property includes 15 parking spaces and is zoned for commercial use. This stabilized investment offers a compelling return with minimal management overhead. The property features a single, one-story building. Lease commencement was July 1, 2020, with expiration set for August 1, 2030. The asking price is $2,700,000. This is a turnkey investment opportunity in a prime Cincinnati location.

• Alternative Use

  Use

  Valuation

  Residential

  $111,526

  Hospitality

  $102,157

  Educational

  $84,993

  Medical

  $87,916

  Retail

  $132,212

Location Insight

City

Cincinnati

County

Hamilton

State

Ohio

Latitude

39.1278

Longitude

-84.4884

CBSA code

17140

CBSA name

CINCINNATI-MIDDLETOWN, OH-KY-IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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