Office-Flex Building with
For Sale
$425,000
8830 Reading Road, Cincinnati, OH 45215
Adaptable office/flex space includes full HVAC, six private offices, and a drive-in door for potential warehouse conversion.
Property Size3,870 SF
Days on Market41
Property Features for 8830 Reading Road
General Information
Standard status
Active
Size
3,870 SF
Property subtype
Office
Building Details
Building Size
3,870 SF
Listing Agency:
Lee & Associates | Cincinnati
Listed By:
Chas Cook · License #OH #2021008642
(513) 884-2665
Source:
Lee-associates
Added: Jul 26
Changed: Sep 2
Last Checked: Sep 4 at 5:40AM
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 Lee & Associates | Cincinnati
Investment Insights
Based on property information with market context.
This office-flex property offers an adaptable layout with six private offices, open work areas, and two private restrooms, supported by full HVAC. The building also includes approximately 1,140 square feet of additional basement storage. Clear height is 12 feet, and the exterior includes security lighting and available building signage.
The site has eight or more lined parking spaces and is located along Reading Road with visibility. The property is described as a short drive to I-75 and Ronald Reagan Cross County Highway.
A buyer may keep the current office configuration or convert approximately 1,600 square feet to warehouse use by reopening an existing 10' x 10' drive-in door.
The site has eight or more lined parking spaces and is located along Reading Road with visibility. The property is described as a short drive to I-75 and Ronald Reagan Cross County Highway.
A buyer may keep the current office configuration or convert approximately 1,600 square feet to warehouse use by reopening an existing 10' x 10' drive-in door.
Key Highlights
- 3,870 SF adaptable office/flex space on 0.27 acres in Cincinnati at 8830 Reading Road
- Existing layout includes six private offices, open work areas, and two private restrooms
- Full HVAC and approximately 1,140 SF basement storage included
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
$28,073
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
6.61%
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%
$561,460
$561.5K
Cap Rate 7%
$401,043
$401.0K
Cap Rate 9%
$311,922
$311.9K
Market Conditions
NOI Build-Up for 3,870 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
$46.4K $12.00/SF
− Vacancy
−$3.3K −$0.84/SF
EGI
$43.2K $11.16/SF
− OpEx
−$15.1K −$3.91/SF
NOI
$28.1K $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 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%
$561,460
Cap Rate 7%
$401,043
Cap Rate 9%
$311,922
Alternative Uses
Best Use
Office B
$659.8K
$577.4K – $769.8K
NOI $46,189 @ 7.0% cap · market cap 10.87%
Second Best
Flex RnD
$401.0K
$350.9K – $467.9K
NOI $28,073 @ 7.0% cap · market cap 6.61%
Theoretical Best
Office A
$837.2K
$732.5K – $976.7K
NOI $58,601 @ 7.0% cap · market cap 13.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
648
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 Office in Cincinnati, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Adaptable office/flex space includes full HVAC, six private offices, and a drive-in door for potential warehouse conversion.
Where is this flex space located?
The property is located at 8830 Reading Road Cincinnati, OH.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 3,870 SF adaptable office/flex space on 0.27 acres in Cincinnati at 8830 Reading Road; Existing layout includes six private offices, open work areas, and two private restrooms; Full HVAC and approximately 1,140 SF basement storage included
