Warehouse with Multiple Dock
For Sale
Contact for pricing
1452 Donaldson Hwy, Erlanger, KY 41018
Boone County I-1 HDO warehouse in Minneola Industrial Park with a concrete truck court and five dock doors.
Property Size24,258 SF
Price / SF$109.24
Days on Market271
Property Features for 1452 Donaldson Hwy
General Information
Standard status
Active
Size
24,258 SF
Property subtype
INDUSTRIAL
Zoning
I-1 HDO
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Dock-High Doors
5
Drive-In Doors
2
Listing Agency:
SqFt Commercial
(513) 843-1600
Listed By:
Rod MacEachen
(513) 675-5764
Source:
Moodyscre
Added: Dec 15, 2025
Changed: Aug 13
Last Checked: Sep 12 at 6:56AM
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 SqFt Commercial
Investment Insights
Based on property information with market context.
1452 Donaldson Hwy is a warehouse property located in unincorporated Boone County within Minneola Industrial Park. The facility offers five (5) dock doors and two (2) drive-in doors, supported by a concrete truck court for loading and staging. There is also 1,720 SF of front office space.
The property provides immediate access to CVG International Airport and is positioned in the market with minutes to I-275/I-75/I-71. It has frontage on Donaldson Highway, supporting practical delivery and service access.
Zoned I-1 HDO (Boone County), the warehouse is currently tenant-occupied. Per the seller, the tenant in the warehouse and the 1,720 SF of front office space expires 8/31/2026.
The property provides immediate access to CVG International Airport and is positioned in the market with minutes to I-275/I-75/I-71. It has frontage on Donaldson Highway, supporting practical delivery and service access.
Zoned I-1 HDO (Boone County), the warehouse is currently tenant-occupied. Per the seller, the tenant in the warehouse and the 1,720 SF of front office space expires 8/31/2026.
Key Highlights
- Warehouse in Minneola Industrial Park (unincorporated Boone County) with frontage on Donaldson Highway
- 5 dock doors plus 2 drive‑in doors
- Concrete truck court
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
$138,797
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
5.24%
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%
$2,775,940
$2.8M
Cap Rate 7%
$1,982,814
$2.0M
Cap Rate 9%
$1,542,189
$1.5M
Market Conditions
NOI Build-Up for 24,258 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
$189.2K $7.80/SF
− Vacancy
−$25.9K −$1.07/SF
EGI
$163.3K $6.73/SF
− OpEx
−$24.5K −$1.01/SF
NOI
$138.8K $5.72/SF
Area
Kenton County, KY
Vacancy
13.70%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
15.00%
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%
$2,775,940
Cap Rate 7%
$1,982,814
Cap Rate 9%
$1,542,189
Alternative Uses
Best Use
Warehouse
$1.98M
$1.73M – $2.31M
NOI $138,797 @ 7.0% cap · market cap 5.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.26M
$5.48M – $7.31M
NOI $438,367 @ 7.0% cap · market cap 16.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
5
Dock-high doors
2
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
232
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 41018, KY
29,305
Population
11,926
Households
2.5
Avg Household Size
36
Median Age
28%
College-Educated
91%
High-School Grad
11.6 sq mi
ZIP Area
2,526
Density / Sq Mi
$70,267
Median Household Income
$40,537
Median Earnings
$1,044
Median Rent
$173,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Warehouse - Boone County I-1 HDO warehouse in Minneola Industrial Park with a concrete truck court and five dock doors.
Where is this warehouse located?
The property is located at 1452 Donaldson Hwy Erlanger, KY.
What is the asking price?
The asking price for this property is $2,650,000.
What are key features of this property?
This property features: Warehouse in Minneola Industrial Park (unincorporated Boone County) with frontage on Donaldson Highway; 5 dock doors plus 2 drive‑in doors; Concrete truck court
