Remodeled Office Units with
For Sale
$459,000
10 Price Ave, Erlanger, KY 41018
Updated commercial space includes conference rooms, individual offices, and an unfinished basement.
Property Size2,838 SF
Price / SF$161.73
Days on Market22
Property Features for 10 Price Ave
General Information
Standard status
Active
Size
2,838 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Listing Agency:
Century 21 Premiere Properties
(859) 750-7485
Listed By:
Kimberly Clemons
(859) 750-7485
Source:
Exprealty
Added: Jul 31
Changed: Aug 21
Last Checked: Aug 21 at 10:29AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Century 21 Premiere Properties
Investment Insights
Based on property information with market context.
Located at 10 Price Ave in Erlanger, this 2,838-square-foot commercial property is configured for office use with a substantial showroom component. The interior includes conference rooms, multiple individual offices, and a full unfinished basement that provides additional area within the building.
The property has been fully remodeled and includes new A/C and a new hot water heater. Its setting in a high-traffic area of Dixie Hwy supports office, light retail, or boutique operations, subject to applicable requirements.
The property has been fully remodeled and includes new A/C and a new hot water heater. Its setting in a high-traffic area of Dixie Hwy supports office, light retail, or boutique operations, subject to applicable requirements.
Key Highlights
- 2,838 SF office property in Erlanger
- Fully remodeled interior
- Large showroom and conference room areas
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
$37,025
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
8.07%
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%
$740,500
$740.5K
Cap Rate 7%
$528,929
$528.9K
Cap Rate 9%
$411,389
$411.4K
Market Conditions
NOI Build-Up for 2,838 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
$56.9K $20.04/SF
− Vacancy
−$7.5K −$2.65/SF
EGI
$49.4K $17.39/SF
− OpEx
−$12.3K −$4.35/SF
NOI
$37.0K $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%
$740,500
Cap Rate 7%
$528,929
Cap Rate 9%
$411,389
Alternative Uses
Best Use
Office B
$528.9K
$462.8K – $617.1K
NOI $37,025 @ 7.0% cap · market cap 8.07%
Second Best
Retail
$439.5K
$384.6K – $512.8K
NOI $30,765 @ 7.0% cap · market cap 6.70%
Theoretical Best
Office A
$732.7K
$641.1K – $854.8K
NOI $51,286 @ 7.0% cap · market cap 11.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
599
Businesses Nearby
Explore this area
Business Placement
Demographics for 41018, KY
29,305
Population
11,926
Households
2.5
Avg Household Size
36
Median Age
28%
College-Educated
91%
High-School Grad
11.6 sq mi
ZIP Area
2,526
Density / Sq Mi
$70,267
Median Household Income
$40,537
Median Earnings
$1,044
Median Rent
$173,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Updated commercial space includes conference rooms, individual offices, and an unfinished basement.
Where is this office units located?
The property is located at 10 Price Ave Erlanger, KY.
What is the asking price?
The asking price for this property is $459,000.
What are key features of this property?
This property features: 2,838 SF office property in Erlanger; Fully remodeled interior; Large showroom and conference room areas
