Single-Tenant Retail
For Sale
Contact for pricing
9689 Montgomery Rd, Cincinnati, OH 45242
Single-tenant configuration in a retail corridor with stated visibility and accessibility.
Property Size7,730 SF
Price / SF$194.05
Days on Market2098
Property Features for 9689 Montgomery Rd
General Information
Standard status
Active
Size
7,730 SF
Property subtype
RETAIL
Building Details
Buildings
1
Tenancy
Single
Listing Agency:
Sudbrack | Kron Commercial Real Estate Services
(513) 678-7621
Listed By:
Spencer Kron · License #BRK.2004009320
(513) 678-7621
Source:
Moodyscre
Added: Dec 1, 2020
Changed: Aug 29
Last Checked: Aug 29 at 7:30PM
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 Sudbrack | Kron Commercial Real Estate Services
Investment Insights
Based on property information with market context.
This 7,730-square-foot retail building is configured for a single occupant. The property is located at 9689 Montgomery Rd in Cincinnati, within a retail-oriented corridor along Montgomery Road.
The site is described as accessible, with visibility and clear sight lines identified as notable physical characteristics. Its commercial setting supports a straightforward retail property profile for an owner or occupant seeking a dedicated building.
The site is described as accessible, with visibility and clear sight lines identified as notable physical characteristics. Its commercial setting supports a straightforward retail property profile for an owner or occupant seeking a dedicated building.
Key Highlights
- 7,730‑square‑foot retail building
- Single‑tenant building configuration
- Located along Montgomery Road’s retail corridor
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
$89,119
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
5.94%
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%
$1,782,380
$1.8M
Cap Rate 7%
$1,273,129
$1.3M
Cap Rate 9%
$990,211
$990.2K
Market Conditions
NOI Build-Up for 7,730 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
$139.1K $18.00/SF
− Vacancy
−$11.8K −$1.53/SF
EGI
$127.3K $16.47/SF
− OpEx
−$38.2K −$4.94/SF
NOI
$89.1K $11.53/SF
Area
Cincinnati, OH
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,782,380
Cap Rate 7%
$1,273,129
Cap Rate 9%
$990,211
Alternative Uses
Best Use
Retail
$1.27M
$1.11M – $1.49M
NOI $89,119 @ 7.0% cap · market cap 5.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.54M
$1.34M – $1.79M
NOI $107,563 @ 7.0% cap · market cap 7.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
964
Businesses Nearby
Explore this area
Business Placement
Demographics for 45242, OH
23,214
Population
9,587
Households
2.4
Avg Household Size
42
Median Age
70%
College-Educated
98%
High-School Grad
13.6 sq mi
ZIP Area
1,707
Density / Sq Mi
$120,869
Median Household Income
$74,505
Median Earnings
$1,781
Median Rent
$421,200
Median Home Value
Market
Vacancy Rate% for Retail in Cincinnati, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Single-tenant configuration in a retail corridor with stated visibility and accessibility.
Where is this retail space located?
The property is located at 9689 Montgomery Rd Cincinnati, OH.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 7,730‑square‑foot retail building; Single‑tenant building configuration; Located along Montgomery Road’s retail corridor
