Building Details

Year Built 1967

Buildings 1

Building Size 8,696 SF

Listing Agency: Keller Williams Advisors

Listed By: Jeffrey J Asquith · License #20174005140 Show Phone

Source: Missyfriede

Added: Sep 6 Changed: Oct 3 Last Checked: Oct 20 at 10:55PM

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Investment Insights

Based on property information with market context.

This flex property combines warehouse and office space with a practical mix of features for industrial operations. The warehouse area includes high ceilings, concrete floors, fresh paint, updated LED lighting, a dock, and a roll-up door. Office improvements include a renovated waiting area, a separate office, and an updated break room with kitchenette. Natural light and contemporary finishes add function to the customer-facing areas, while a newer roof supports the building’s ongoing utility.

Built in 1967, the property is located at 1243 Tennessee Ave in Cincinnati, Ohio, between I-71 and I-75. Access is available from the Lateral. The property is offered for sale, and an NNN lease is also being considered.

Key Highlights

• Warehouse and office configuration with adaptable industrial and manufacturing use
• High ceilings, concrete floors, fresh paint, and updated LED lighting
• Single dock and roll‑up door serve the warehouse area

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$75,732

Cap Rate

8.42%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,514,640 $1.5M

Cap Rate 7%

$1,081,886 $1.1M

Cap Rate 9%

$841,467 $841.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 8,700 SF

Gross rent

$125.3K $14.40/SF

− Vacancy

−$8.8K −$1.01/SF

EGI

$116.5K $13.39/SF

− OpEx

−$40.8K −$4.69/SF

NOI

$75.7K $8.70/SF

Area

Cincinnati, OH

Vacancy

7.00%

Lease Rate

$14.40 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,514,640

Cap Rate 7%

$1,081,886

Cap Rate 9%

$841,467

Alternative Uses

Best Use

Office B

$1.48M

$1.30M – $1.73M (±1% cap)

NOI $103,835 @ 7.0% cap · market cap 11.55%

Second Best

Flex RnD

$1.08M

$946.7K – $1.26M (±1% cap)

NOI $75,732 @ 7.0% cap · market cap 8.42%

Theoretical Best

Office A

$1.73M

$1.51M – $2.02M (±1% cap)

NOI $121,061 @ 7.0% cap · market cap 13.47%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Wheel Xchange Auto Repair Shop

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Pharmacy Restaurant 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

Dock-high doors

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

413

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 45229, OH

12,540

Population

7,813

Households

1.6

Avg Household Size

37

Median Age

31%

College-Educated

87%

High-School Grad

2.7 sq mi

ZIP Area

4,644

Density / Sq Mi

$30,829

Median Household Income

$25,772

Median Earnings

$831

Median Rent

$316,000

Median Home Value

Market

Vacancy Rate% for Office in Cincinnati, OH

18% 2019

19.1% 2020

21.4% 2021

23.3% 2022

25.4% 2023

26.1% 2024

25.4% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Warehouse and office improvements support adaptable industrial and manufacturing use.

Where is this flex space located?

The property is located at 1243 Tennessee Ave Cincinnati, OH.

What is the asking price?

The asking price for this property is $899,000.

What are key features of this property?

This property features: Warehouse and office configuration with adaptable industrial and manufacturing use; High ceilings, concrete floors, fresh paint, and updated LED lighting; Single dock and roll‑up door serve the warehouse area