Woodlawn Commercial Investment
For Sale
Contact for pricing
10045 Springfield Pike, Cincinnati, OH 45215
Office and retail spaces with value-add potential in Cincinnati suburb.
Property Size9,610 SF
Price / SF$166.49
Days on Market2308
Property Features for 10045 Springfield Pike
General Information
Standard status
Active
Size
9,610 SF
Class
B
Total Parking Spaces
38
Property subtype
Office, Retail
Zoning
Commercial
Occupancy
65%
Lease Type
Gross
Net Operating Income
$96,449
Building Details
Year Built
1962
Year Renovated
2018
Buildings
2
Stories
2
Tenancy
Multi
Listing Agency:
Plum Tree Realty
Listed By:
Ali Abdur-Rahman · License #OH 2004006274
(513) 443-5060
Source:
Crexi
Added: Jun 16, 2020
Changed: Sep 11
Last Checked: Oct 9 at 4:14PM
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 Plum Tree Realty
Investment Insights
Based on property information with market context.
Located in Woodlawn, a suburb of Cincinnati, Ohio, this property presents a commercial investment opportunity. The portfolio includes two buildings: 10045 Springfield Pike, which offers office and retail space, and 10075 Springfield Pike, which houses a sports bar. These two properties share a parking area with 38 spaces. The office spaces on the second level have been recently renovated. The roof was replaced in 2021, and the mechanical systems are reported to be in solid condition. The property offers a value-add opportunity, with the potential to convert vacant office spaces into studio apartments. The total property size is 9610 square feet.
Key Highlights
- Prime investment opportunity in Woodlawn, Ohio.
- Portfolio includes office/retail space and a sports bar.
- Shares 38 parking spaces.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$114,696
Cap Rate
7.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,293,920
$2.3M
Cap Rate 7%
$1,638,514
$1.6M
Cap Rate 9%
$1,274,400
$1.3M
Market Conditions
NOI Build-Up for 9,610 SF
Gross rent
$198.4K $20.64/SF
− Vacancy
−$45.4K −$4.73/SF
EGI
$152.9K $15.91/SF
− OpEx
−$38.2K −$3.98/SF
NOI
$114.7K $11.94/SF
Area
ZIP 45215
Vacancy
22.90%
Lease Rate
$20.64 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,293,920
Cap Rate 7%
$1,638,514
Cap Rate 9%
$1,274,400
Alternative Uses
Best Use
Office B
$1.64M
$1.43M – $1.91M
NOI $114,696 @ 7.0% cap · market cap 7.17%
Second Best
Retail
$1.59M
$1.39M – $1.86M
NOI $111,399 @ 7.0% cap · market cap 6.96%
Theoretical Best
Office A
$2.08M
$1.82M – $2.43M
NOI $145,517 @ 7.0% cap · market cap 9.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
382
Businesses Nearby
Explore this area
Business Placement
Demographics for 45215, OH
30,993
Population
13,735
Households
2.3
Avg Household Size
38
Median Age
35%
College-Educated
92%
High-School Grad
12.0 sq mi
ZIP Area
2,583
Density / Sq Mi
$71,949
Median Household Income
$45,976
Median Earnings
$954
Median Rent
$200,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Cincinnati, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Office and retail spaces with value-add potential in Cincinnati suburb.
Where is this office building located?
The property is located at 10045 Springfield Pike Cincinnati, OH.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Prime investment opportunity in Woodlawn, Ohio.; Portfolio includes office/retail space and a sports bar.; Shares 38 parking spaces.
