Building Details

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Listed By: Haven Pisani Show Phone

Source: Liveloveohio

Added: Jul 10 Changed: Oct 6 Last Checked: Oct 7 at 9:54AM

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Investment Insights

Based on property information with market context.

This two-story flex warehouse offers approximately 12,000 square feet of space distributed across both floors. Freight elevator access is available to the second floor, supporting internal movement of goods and equipment. Vehicle and delivery access is provided via a side drive-in door, and the property includes off-street parking for 12+ cars.

The property is offered for sale with a general commercial zoning classification. The use sheet is available through the MLS for potential uses.

Key Highlights

• Two‑story industrial flex space with approximately 12,000 sq ft across two floors
• Freight elevator provides accessibility to the second floor
• Side drive‑in door access for loading and easy ingress/egress

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$87,048

Cap Rate

8.75%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,740,960 $1.7M

Cap Rate 7%

$1,243,543 $1.2M

Cap Rate 9%

$967,200 $967.2K

Market Conditions

NOI Build-Up for 12,000 SF

Gross rent

$144.0K $12.00/SF

− Vacancy

−$10.1K −$0.84/SF

EGI

$133.9K $11.16/SF

− OpEx

−$46.9K −$3.91/SF

NOI

$87.0K $7.25/SF

Area

ZIP 45215

Vacancy

7.00%

Lease Rate

$12.00 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,740,960

Cap Rate 7%

$1,243,543

Cap Rate 9%

$967,200

Alternative Uses

Best Use

Flex RnD

$1.24M

$1.09M – $1.45M (±1% cap)

NOI $87,048 @ 7.0% cap · market cap 8.75%

Second Best

Industrial

$839.2K

$734.3K – $979.1K (±1% cap)

NOI $58,746 @ 7.0% cap · market cap 5.90%

Theoretical Best

Office A

$2.60M

$2.27M – $3.03M (±1% cap)

NOI $181,707 @ 7.0% cap · market cap 18.26%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Law Firm Pharmacy Spa & Massage Center Auto Parts Store Parking Lot & Garage

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Drive-in doors

Location Intelligence

Trade Area within ½ mile

575

Businesses Nearby

Under-served

Demand for This Use

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

Market

Vacancy Rate% for Industrial in Cincinnati, OH

4.2% 2019

5% 2020

4.1% 2021

1.7% 2022

5.1% 2023

5.6% 2024

6.2% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Two-story industrial flex space includes a freight elevator to the second floor and side drive-in door access.

Where is this flex space located?

The property is located at 109-121 S Wayne Avenue Lockland Cincinnati, OH.

What is the asking price?

The asking price for this property is $995,000.

What are key features of this property?

This property features: Two‑story industrial flex space with approximately 12,000 sq ft across two floors; Freight elevator provides accessibility to the second floor; Side drive‑in door access for loading and easy ingress/egress