Building Details

Year built 1975

Flooring type Carpet, Concrete

Building materials Brick, Vinyl Siding

Roof type Shingle

Listing Agency: eXp Realty o***@exprealty.net Show Phone

Listed By: Monika Deroussel · License #BRKA.2019000471 Show Phone

Added: Sep 21 Changed: Sep 22 Last Checked: Sep 23 at 2:06PM

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MLS# 1894318

Copyright © 2026 MLS of Greater Cincinnati, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This 1,500-square-foot commercial building offers a practical layout for office, medical, or retail use. The interior includes a large central room, two private offices, a gathering area, kitchenette, and two bathrooms. Brick and vinyl siding define the exterior, while concrete and carpet flooring provide varied interior finishes. The property was built in 1975 and is heated by natural gas.

Set on 0.3295 acres at 1379 Woodman Drive in Riverside, Ohio, the property is positioned on a highly traveled street. Its physical configuration combines open space with private rooms and support areas, giving occupants several functional zones within a compact commercial footprint.

Key Highlights

• 1,500 SF interior with a large main room, two offices, gathering area, kitchenette, and two bathrooms
• Configured for office, medical, or retail use
• 0.3295‑acre site at 1379 Woodman Drive, Riverside, OH 45432

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

$14,152

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

7.49%

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%

$283,040 $283.0K

Cap Rate 7%

$202,171 $202.2K

Cap Rate 9%

$157,244 $157.2K

Market Conditions

NOI Build-Up for 1,500 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

$21.6K $14.40/SF

− Vacancy

−$1.4K −$0.92/SF

EGI

$20.2K $13.48/SF

− OpEx

−$6.1K −$4.04/SF

NOI

$14.2K $9.43/SF

Area

Greene County, OH

Vacancy

6.40%

Lease Rate

$14.40 /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%

$283,040

Cap Rate 7%

$202,171

Cap Rate 9%

$157,244

Alternative Uses

Best Use

Office B

$282.0K

$246.8K – $329.1K (±1% cap)

NOI $19,743 @ 7.0% cap · market cap 10.45%

Second Best

Retail

$202.2K

$176.9K – $235.9K (±1% cap)

NOI $14,152 @ 7.0% cap · market cap 7.49%

Theoretical Best

—

—

same as Best Use

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Open Analytics

Current Use

Office buildings

Suggested Use

Top Pick Real Estate Agency Hair Salon Law Firm Spa & Massage Center Nail Salon Dental Office

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

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

275

Businesses Nearby

Explore this area Business Placement

Demographics for 45432, OH

15,105

Population

6,715

Households

2.2

Avg Household Size

40

Median Age

36%

College-Educated

94%

High-School Grad

7.1 sq mi

ZIP Area

2,127

Density / Sq Mi

$83,323

Median Household Income

$47,428

Median Earnings

$871

Median Rent

$181,900

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this office buildings located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Office building - Interior arrangement supports office, medical, or retail operations with dedicated workrooms and customer-facing space.

Where is this office building located?

The property is located at 1379 Woodman Drive Riverside, OH.

What is the asking price?

The asking price for this property is $189,000.

What are key features of this property?

This property features: 1,500 SF interior with a large main room, two offices, gathering area, kitchenette, and two bathrooms; Configured for office, medical, or retail use; 0.3295‑acre site at 1379 Woodman Drive, Riverside, OH 45432