Ground-Floor Office
For Sale
$264,800
559 Centre View Boulevard, Crestview Hills, KY 41017
Commercial Sale, Crestview Hills, KY
Property Size1,406 SF
Lot Size0.03 Acres
Price / SF$188.34
Days on Market319
Property Features for 559 Centre View Boulevard
General Information
Property type
Commercial Sale
Property subtype
Office
Parking features
Parking Lot
Exterior features
Curbs, Sidewalks
Directions
275 to Turkeyfoot to Thomas More Pkwy to Centre View
Subdivision
K08 - Lakes PK, FT Mt/CrstvHill/Edgewd
Standard status
Active
APN
829-10-00-559.00
Size
1,406 SF
Lot size
0.03 Acres
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
ADA restrooms
washer/dryer hook-ups
Building Details
Floors in Building
1
Building materials
Brick
Roof type
Metal
Listing Agency:
eXp Realty, LLC
(859) 795-7995
Listed By:
Caldwell Group
(859) 780-5511
Added: Oct 8, 2025
Changed: Aug 21
Last Checked: Aug 22 at 9:06PM
MLS# 636970
Copyright © 2026 Northern Kentucky MLS, 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 1,406-square-foot ground-floor office condominium is arranged with a combination of private rooms and open workspace. The layout supports medical, wellness, and general office functions, with two ADA restrooms and washer/dryer hookups. Brick construction, a metal roof, central heating, and central air provide a practical office environment.
The property is part of Centre View Office Park in Crestview Hills, with access to a parking lot, sidewalks, and curbs. I-275 and Crestview Hills Town Center are described as minutes away. Public water and sewer serve the property, and water is available. The parcel is listed at 0.03 acres.
The property is part of Centre View Office Park in Crestview Hills, with access to a parking lot, sidewalks, and curbs. I-275 and Crestview Hills Town Center are described as minutes away. Public water and sewer serve the property, and water is available. The parcel is listed at 0.03 acres.
Key Highlights
- 1,406 SF ground‑floor office condominium
- Flexible configuration with private and open workspace
- Two ADA restrooms
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
$18,343
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
6.93%
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%
$366,860
$366.9K
Cap Rate 7%
$262,043
$262.0K
Cap Rate 9%
$203,811
$203.8K
Market Conditions
NOI Build-Up for 1,406 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
$28.2K $20.04/SF
− Vacancy
−$3.7K −$2.65/SF
EGI
$24.5K $17.39/SF
− OpEx
−$6.1K −$4.35/SF
NOI
$18.3K $13.05/SF
Area
Kenton County, KY
Vacancy
13.20%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
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%
$366,860
Cap Rate 7%
$262,043
Cap Rate 9%
$203,811
Alternative Uses
Best Use
Office B
$262.0K
$229.3K – $305.7K
NOI $18,343 @ 7.0% cap · market cap 6.93%
Second Best
Healthcare Medical
$70.8K
$62.0K – $82.7K
NOI $4,959 @ 7.0% cap · market cap 1.87%
Theoretical Best
Office A
$363.0K
$317.6K – $423.5K
NOI $25,408 @ 7.0% cap · market cap 9.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,630
Businesses Nearby
Explore this area
Business Placement
Demographics for 41017, KY
40,333
Population
16,569
Households
2.4
Avg Household Size
40
Median Age
48%
College-Educated
97%
High-School Grad
21.2 sq mi
ZIP Area
1,903
Density / Sq Mi
$100,645
Median Household Income
$51,808
Median Earnings
$985
Median Rent
$278,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Flexible office layout with private and open areas, central HVAC, and ADA restrooms.
Where is this office units located?
The property is located at 559 Centre View Boulevard Crestview Hills, KY.
What is the asking price?
The asking price for this property is $264,800.
What are key features of this property?
This property features: 1,406 SF ground‑floor office condominium; Flexible configuration with private and open workspace; Two ADA restrooms
