Move-in Ready Office
For Sale
Contact for pricing
1103 Allen Dr, Milford, OH
Single-occupant office building with efficient floorplate and ample parking.
Property Size31,363 SF
Lot Size4.97 Acres
Price / SF$156.24
Days on Market632
Property Features for 1103 Allen Dr
General Information
Standard status
Active
Size
31,363 SF
Lot size
4.97 Acres
Property subtype
OFFICE
Lease Type
Modified Gross
Properties For Sale
at 1103 Allen Dr Contact us- Floor
- Bldg
- Size
- 31,363 SF
- Type
- OFFICE
- Lease Type
- MODIFIED_GROSS
- Availability
- AVAILABLE, Now
- Sublease
- No
1103 Allen Dr
• Move-in ready condition
• Single-occupant control, branding and security
•...
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Contact us
Listing Agency:
Newmark | Cincinnati
(513) 241-2300
Listed By:
Darin J. Armbruster
(513) 317-1611
Source:
Moodyscre
Added: Dec 19, 2024
Changed: Sep 2
Last Checked: Sep 12 at 7:18AM
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 Newmark | Cincinnati
Investment Insights
Based on property information with market context.
This office building offers a move-in ready condition suitable for single-occupant control, branding, and security. The property features a back-up generator with UPS. Parking is available at a ratio of 9 per 1,000 square feet. The building has an efficient floorplate and floor-to-ceiling windows. All window blinds were replaced in 2021. The property has a size of 31,363 square feet.
Key Highlights
- Move‑in ready condition
- 9/1,000 SF parking ratio
- Back‑up generator with UPS
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
$295,195
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
6.02%
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%
$5,903,900
$5.9M
Cap Rate 7%
$4,217,071
$4.2M
Cap Rate 9%
$3,279,944
$3.3M
Market Conditions
NOI Build-Up for 31,363 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
$526.9K $16.80/SF
− Vacancy
−$133.3K −$4.25/SF
EGI
$393.6K $12.55/SF
− OpEx
−$98.4K −$3.14/SF
NOI
$295.2K $9.41/SF
Area
Clermont 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%
$5,903,900
Cap Rate 7%
$4,217,071
Cap Rate 9%
$3,279,944
Alternative Uses
Best Use
Office B
$4.22M
$3.69M – $4.92M
NOI $295,195 @ 7.0% cap · market cap 6.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.62M
$4.92M – $6.56M
NOI $393,593 @ 7.0% cap · market cap 8.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
404
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Business Placement
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - Single-occupant office building with efficient floorplate and ample parking.
Where is this office building located?
The property is located at 1103 Allen Dr Milford, OH.
What is the asking price?
The asking price for this property is $4,900,000.
What are key features of this property?
This property features: Move‑in ready condition; 9/1,000 SF parking ratio; Back‑up generator with UPS
