Flex Space with Crane
For Sale
$1,200,000
5095 Crookshank Road, Cincinnati, OH 45238
Commercial Sale, Cincinnati, OH
Property Size19,664 SF
Lot Size0.79 Acres
Price / SF$61.03
Days on Market84
Property Features for 5095 Crookshank Road
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Offsite
Security features
Security Lighting
Interior features
Security Light, Crane, Compressor, Smoke Detector, Alarm System, Drive-in Door, Over 12 Doors
Exterior features
Part Fenced, Outside Storage, Curb/Gutter, Lights
Fencing
Fenced
Directions
One block down Crookshank Rd on the left from the Glenway Ave & Boudinot Ave intersection. A quick drive to anywhere in the Cincinnati area!
Subdivision
Hamilton-W04
Standard status
Active
APN
248-0003-0191-00
Lot size
0.79 Acres
Utilities
Heating system
Natural Gas, Forced Air
Amenities
conference rooms
break room
training room
IT server room
co-working spaces
secured access
Building Details
Flooring type
Concrete, Carpet
Building materials
Block
Roof type
Metal, Shingle
Additional Structures
Storage
Listing Agency:
Lohmiller Real Estate
(513) 371-5468
Listed By:
Andrew Lohmiller · License #RB14037175
(812) 537-1023
Added: Jun 10
Changed: Aug 19
Last Checked: Sep 1 at 10:06AM
MLS# 1882623
Copyright © 2026 MLS of Greater Cincinnati, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 19,664-square-foot flex property combines approximately 9,000 square feet of office area with additional warehouse and manufacturing space. The office component includes more than a dozen private offices, conference rooms, a break room, training room, IT server room, and co-working areas. Warehouse improvements include drive-in doors, high ceilings, all utilities, secured access, and a crane system.
Situated on 0.787 acres at 5095 Crookshank Road in Cincinnati, the property also offers outside storage, partial fencing, exterior lighting, curb and gutter, and offsite parking. Construction is block, with concrete and carpet flooring, metal and shingle roofing, and natural-gas forced-air heating. Security features include an alarm system, smoke detectors, and security lighting.
Situated on 0.787 acres at 5095 Crookshank Road in Cincinnati, the property also offers outside storage, partial fencing, exterior lighting, curb and gutter, and offsite parking. Construction is block, with concrete and carpet flooring, metal and shingle roofing, and natural-gas forced-air heating. Security features include an alarm system, smoke detectors, and security lighting.
Key Highlights
- 19,664 square feet of combined flex, office, warehouse, and manufacturing space
- Approximately 9,000 square feet configured for office use
- More than a dozen private offices, conference rooms, training room, and IT server room
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$96,266
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.02%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,925,320
$1.9M
Cap Rate 7%
$1,375,229
$1.4M
Cap Rate 9%
$1,069,622
$1.1M
Market Conditions
NOI Build-Up for 19,664 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$146.3K $7.44/SF
− Vacancy
−$8.8K −$0.45/SF
EGI
$137.5K $6.99/SF
− OpEx
−$41.3K −$2.10/SF
NOI
$96.3K $4.90/SF
Area
ZIP 45238
Vacancy
6.00%
Lease Rate
$7.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,925,320
Cap Rate 7%
$1,375,229
Cap Rate 9%
$1,069,622
Alternative Uses
Best Use
Office B
$3.35M
$2.93M – $3.91M
NOI $234,691 @ 7.0% cap · market cap 19.56%
Second Best
Warehouse
$1.64M
$1.44M – $1.92M
NOI $115,029 @ 7.0% cap · market cap 9.59%
Theoretical Best
Office A
$4.38M
$3.83M – $5.10M
NOI $306,275 @ 7.0% cap · market cap 25.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
896
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 45238, OH
46,864
Population
21,834
Households
2.1
Avg Household Size
37
Median Age
27%
College-Educated
91%
High-School Grad
10.3 sq mi
ZIP Area
4,550
Density / Sq Mi
$64,672
Median Household Income
$40,043
Median Earnings
$913
Median Rent
$168,800
Median Home Value
Market
Vacancy Rate% for Office in Cincinnati, OH
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Mixed office, warehouse, and manufacturing configuration with secured access and drive-in doors.
Where is this flex space located?
The property is located at 5095 Crookshank Road Cincinnati, OH.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 19,664 square feet of combined flex, office, warehouse, and manufacturing space; Approximately 9,000 square feet configured for office use; More than a dozen private offices, conference rooms, training room, and IT server room
