Archive: COMMERCIAL REAL ESTATE AUCTION
Conducted: January 22, 2015 11:00 am EST
Location: 7798 Reading Rd.
Cincinnati, OH 45237
Highlights:
LENDER APPROVED COMMERCIAL REAL ESTATE AUCTION

Notes: PROPERTY FEATURES
  • 29,335sf built circa 1965
  • Easily divisible into several store fronts
  • 4.11 acres of land
  • 115’ frontage on heavily traveled Reading Rd.- a major North/South lateral of Cincinnati
  • High traffic count of over 21,500 cars daily.
  • Generally Level topography – the rear of the property is partially hilly
  • FEMA indicates the property is outside the 500 year floodplain – Panel #39061C0229E with an effective date of Feb. 17, 2010.
  • All City utilities
  • 9’ ceilings throughout
  • 1 dock well & 1 drive in door
  • HVAC are newer gas fired roof mounted forced air package units with Central Air
  • Fully sprinkled by a wet system
  • Rubber roof recently replaced
  • Concrete block exterior walls w/ brick veneer front
  • Income producing cell tower on property
  • PID # 1170011005200 & 1170011000400
  • Current annual taxes are $40,824 based on an Auditor appraised value of $825,000.

THE PROPERTY. The building is an existing single story masonry constructed office/commercial service building, circa 1965. It features a steel frame with columns and metal bar joist roof system on a concrete pad. The front of the building consists of aluminum framed insulated retail store style windows. Interior lighting is by recessed fluorescent fixtures, some non-recessed fluorescent fixtures, and some can lights. The building and parking lot could use some freshening, but the property appears to be of sound construction with few major defects. The building appears to be easily devisable for multiple tenants and is currently configured with 4 distinct front entrances.

ZONING. According to the City of Cincinnati Planning and Zoning, the property is Zoned CC-A, Commercial Community Automotive. The purpose of this classification is to identify, create, maintain, and enhance areas suitable for a wide variety of commercial and institutional uses along major transportation corridors and in shopping districts or centers. Principle permitted uses include a wide variety of office, retail, institutional, and selected industrial uses.

DEMOGRAPHICS. The property is located in the urban neighborhood of Cincinnati known as Roselawn. It is approximately 7 miles northeast of Cincinnati’s downtown business district. Roselawn is fully developed with primary uses being community oriented retail and office uses, institutional uses, single family housing, and low income multifamily housing. Located to the east are industrial use properties, to the south are light industrial and commercial service properties, to the west are automotive uses along with multifamily, neighborhood retail, hospitality, and institutional properties.

AREA OUTLOOK. The Greater Cincinnati Statistical Market Area (GCSMA) has weathered the previous recession and the slow recovery better than most surrounding Statistical Market Areas. It is anticipated with the strengthening economy the Greater Cincinnati Area will continue to see progress in tightening vacancies, increasing rental rates, and continued investment.

ORDERED SOLD AT OR ABOVE A MINIMUM BID OF $210,000


CELL TOWER AGREEMENT

PROPERTY INFORMATION PACKET


T_1.JPG
T_2.JPG
T_3.JPG
T_4.JPG
T_5.JPG


T_6.JPG
T_7.JPG
T_8.JPG
T_9.JPG
T_10.JPG


T_11.JPG
T_12.JPG
T_13.JPG
T_14.JPG

Have Questions?

Need more information about how Semple International's Auctions can work for you?