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    350 Thomas More Pkwy Crestview Hills, KY

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    Office spaces in a corporate campus setting near amenities.

    Type:OFFICE
    Property size:
    3,196 SF
    Lot size:
    3.37 Acres
    Added:
    Oct 6, 2023
    Days on Market:
    937
    Last Refresh:
    Apr 5 at 9:05 pm

    Property Features for 350 Thomas More Pkwy

    General Information

    Standard status
    Active
    Size
    3,196 SF
    Lot size
    3.37 Acres
    Property subtype
    OFFICE

    Spaces For Lease

    at 350 Thomas More Pkwy Contact us

    We can help!

    Listing Contact
    Fred Macke
    Fred Macke

    Listing agent Fred Macke License #BRKP.0000234706

    Listing office Colliers | Cincinnati

    Listing date Oct 6, 2023

    Source Moodyscre

    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 Colliers | Cincinnati

    Overview

    Crestview Hills Office Space

    Office spaces are available within a corporate campus setting, offering high visibility and custom-designed interiors. The location provides convenient access to sports and daycare facilities. Situated in close proximity to St. Elizabeth Medical Center and Thomas More College, the property is also located 10 minutes from I-71, I-75, and I-275. Chapel Place Building A, constructed in 1998, features a brick building type with 35,000 square feet of office space. Available space measures 17,176 rentable square feet. Chapel Place Building B, constructed in 2000, also features a brick building type with 38,000 square feet of office space. Available space measures 7,732 rentable square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Auto Repair Shop Hair Salon Dental Office Hotel & Motel Nail Salon Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Crestview Hills
    County
    Kenton
    State
    Kentucky
    Longitude
    -84.5641
    Latitude
    39.0237

    Nearby Similar for Lease

    • $23 SF/Yr

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      Medical Office Space For Rent

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      Medical Office Space Available

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      2900 Chancellor Dr, Crestview Hills, KY 41017
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      Turnkey Restaurant Opportunity in Crestview

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      2804 Turkeyfoot Road, Crestview Hills, KY 41017
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      Crestview Hills Office Space

      Office building in Crestview Hills, Kentucky with 22,698 SF.
      740 Centre View Blvd., Crestview Hills, KY 41017
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      Class A Office in Crestview

      Class A office facility in the heart of Crestview Hills.
      2670 Chancellor Dr, Crestview Hills, KY 41017
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      Crestview Hills Office Space

      Office spaces in a corporate campus setting near St. Elizabeth.
      340-350 Thomas More Pkwy, Crestview Hills, KY
      View Details
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      Office Space Available For Rent

      Office space for rent at 740 Centre View Blvd.
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    • $23 SF/Yr

      Class A Office Space Available

      High-visibility office space with abundant parking and tenant amenities.
      740 Centre View Blvd, Crestview Hills, KY
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      Office Space in Crestview Hills

      Office space available near I-275 and Crestview Hills Town Center.
      536-580 Centre View Blvd, Crestview Hills, KY
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      Corporate Campus Office Space

      Office space in corporate campus setting with high visibility.
      340 Thomas More Parkway, Crestview Hills, KY 41017
      View Details

    FAQs

    What type of property is this?
    Office units - Office spaces in a corporate campus setting near amenities.
    Where is this office units located?
    The property is located at 350 Thomas More Pkwy Crestview Hills, KY.
    What is the lease rate?
    The lease rate is $16 SF/Yr.
    What are key features of this property?
    This property features: Corporate campus setting with high visibility.; Custom‑designed interiors.; Convenient access to sports and daycare facilities.
    (513) 505-4200 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Fred Macke
    Fred Macke
    Real Estate License ID: BRKP.0000234706
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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