Main Street Corner Office
For Sale
Contact for pricing
1029 Main St., Cincinnati, OH 45202
Corner office building with redevelopment potential in Cincinnati, OH.
Property Size4,076 SF
Price / SF$196.03
Days on Market209
Property Features for 1029 Main St.
General Information
Standard status
Active
Size
4,076 SF
Property subtype
Office, Retail
Zoning
DD
Building Details
Year Built
1941
Listing Agency:
United Realty Co
Listed By:
Khris Roeller · License #BRKA.0000339906
Source:
Crexi
Added: Jan 29
Changed: Aug 8
Last Checked: Aug 8 at 6:34AM
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 United Realty Co
Investment Insights
Based on property information with market context.
The property is a former building and loan that was converted into law offices. It features 5 offices, secretarial space, a conference room, and a library. A walk-in operable bank safe is also present. The building is located on a corner at Main Street and Central Parkway. Redevelopment is possible as the building is not historical. One ground parking spot is located behind the building and is a separate parcel measuring 10 feet wide by 26.85 feet deep. The property contains 4,076 square feet and is suitable for office or retail use.
Key Highlights
- Prime corner location at Main & Central Parkway
- Potential for re‑development (not historical)
- Includes a walk‑in operable bank safe
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
$48,647
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
6.09%
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%
$972,940
$972.9K
Cap Rate 7%
$694,957
$695.0K
Cap Rate 9%
$540,522
$540.5K
Market Conditions
NOI Build-Up for 4,076 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
$84.1K $20.64/SF
− Vacancy
−$19.3K −$4.73/SF
EGI
$64.9K $15.91/SF
− OpEx
−$16.2K −$3.98/SF
NOI
$48.6K $11.94/SF
Area
Cincinnati, OH
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 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%
$972,940
Cap Rate 7%
$694,957
Cap Rate 9%
$540,522
Alternative Uses
Best Use
Office B
$695.0K
$608.1K – $810.8K
NOI $48,647 @ 7.0% cap · market cap 6.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$810.3K
$709.0K – $945.3K
NOI $56,718 @ 7.0% cap · market cap 7.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
7,374
Businesses Nearby
Explore this area
Business Placement
Demographics for 45202, OH
16,883
Population
11,432
Households
1.5
Avg Household Size
34
Median Age
63%
College-Educated
91%
High-School Grad
2.7 sq mi
ZIP Area
6,253
Density / Sq Mi
$87,930
Median Household Income
$63,901
Median Earnings
$1,524
Median Rent
$444,000
Median Home Value
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 - Corner office building with redevelopment potential in Cincinnati, OH.
Where is this office building located?
The property is located at 1029 Main St. Cincinnati, OH.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Prime corner location at Main & Central Parkway; Potential for re‑development (not historical); Includes a walk‑in operable bank safe
