Office Building Across From
For Sale
$830,000
10587 Montgomery Rd, Montgomery, OH 45242
The property offers an office setting near a hospital with convenient freeway proximity.
Property Size2,736 SF
Price / SF$303.36
Days on Market34
Property Features for 10587 Montgomery Rd
General Information
Standard status
Active
Size
2,736 SF
Additional Details
Highway Access
Yes
Building Details
Year Built
1951
Listing Agency:
Coldwell Banker Realty
(513) 802-8977
Listed By:
Tahsin Mert
Source:
Finn-team
Added: Jul 28
Changed: Aug 29
Last Checked: Aug 30 at 7:10PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
Located at 10587 Montgomery Rd in Montgomery, Ohio, this 2,736-square-foot office building was constructed in 1951. The property sits across from a hospital and is minutes from a freeway, providing a commercially accessible setting for office use. It is offered for sale and is also available for lease.
Key Highlights
- 2,736‑square‑foot office building
- Constructed in 1951
- Across from a hospital
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
$25,752
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
3.10%
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%
$515,040
$515.0K
Cap Rate 7%
$367,886
$367.9K
Cap Rate 9%
$286,133
$286.1K
Market Conditions
NOI Build-Up for 2,736 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
$46.0K $16.80/SF
− Vacancy
−$11.6K −$4.25/SF
EGI
$34.3K $12.55/SF
− OpEx
−$8.6K −$3.14/SF
NOI
$25.8K $9.41/SF
Area
Hamilton County, OH
Vacancy
25.30%
Lease Rate
$16.80 /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%
$515,040
Cap Rate 7%
$367,886
Cap Rate 9%
$286,133
Alternative Uses
Best Use
Office B
$367.9K
$321.9K – $429.2K
NOI $25,752 @ 7.0% cap · market cap 3.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$490.5K
$429.2K – $572.3K
NOI $34,336 @ 7.0% cap · market cap 4.14%
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
1,095
Businesses Nearby
Explore this area
Business Placement
Demographics for 45242, OH
23,214
Population
9,587
Households
2.4
Avg Household Size
42
Median Age
70%
College-Educated
98%
High-School Grad
13.6 sq mi
ZIP Area
1,707
Density / Sq Mi
$120,869
Median Household Income
$74,505
Median Earnings
$1,781
Median Rent
$421,200
Median Home Value
Market
Vacancy Rate% for Office in Midwest 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 building - The property offers an office setting near a hospital with convenient freeway proximity.
Where is this office building located?
The property is located at 10587 Montgomery Rd Montgomery, OH.
What is the asking price?
The asking price for this property is $830,000.
What are key features of this property?
This property features: 2,736‑square‑foot office building; Constructed in 1951; Across from a hospital
