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6011 Madison Rd 7 Unit Apartment Building $4,024,508 CAD ($574,930 CAD/Unit) 7% Cap Rate Cincinnati, OH 45227

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Executive Summary

Completely gutted in 2022, remodeled with a new addition in 2023 and 2024. Commercial Tenant, Dance Factory Fitness, is on the 1st floor with great financials. Has several years and options left on their lease with 2% annual increases. The 2nd and 3rd floor are brand new apartments with high end amenities and over 1000/SF each with a dedicated parking spot, with a total of 12 Parking spots for the building. Located in the heart of Madisonville with many new shops and restaurants moving in/announced. Surrounded by many high-end neighborhoods in Cincinnati. Building has a LEED Silver 15 year CRA Tax Abatement. Building is located in the Qualified Opportunity Zone and eligible for this program.

6011_Madison_Rd_OM_04022023

Property Facts

Price	$4,024,508 CAD	Building Class	C
Price Per Unit	$574,930 CAD	Lot Size	0.18 AC
Sale Type	Investment	Building Size	16,080 SF
Cap Rate	7%	No. Stories	3
No. Units	7	Year Built	1925
Property Type	Multifamily	Parking Ratio	0.62/1,000 SF
Property Subtype	Apartment General Retail Storefront Retail/Residential	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Apartment Style	Low-Rise
Zoning	Form Based Code

Price	$4,024,508 CAD
Price Per Unit	$574,930 CAD
Sale Type	Investment
Cap Rate	7%
No. Units	7
Property Type	Multifamily
Property Subtype	Apartment General Retail Storefront Retail/Residential
Apartment Style	Low-Rise
Building Class	C
Lot Size	0.18 AC
Building Size	16,080 SF
No. Stories	3
Year Built	1925
Parking Ratio	0.62/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	Form Based Code