Second-Floor Office
For Sale
$230,000
18-7000 Houston Rd, Florence, KY 41042
Combined office suites provide conference rooms, private offices, kitchenettes, and separate entrances.
Property Size950 SF
Price / SF$242.11
Days on Market11
Property Features for 18-7000 Houston Rd
General Information
Standard status
Active
Size
950 SF
Listing Agency:
Sibcy Cline, REALTORS-Florence
(859) 750-9737
Listed By:
Sharon Hilinski
(859) 750-9737
Source:
Exprealty
Added: Jul 30
Changed: Aug 8
Last Checked: Aug 8 at 7:25AM
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 Sibcy Cline, REALTORS-Florence
Investment Insights
Based on property information with market context.
These second-floor office units are configured as a combined suite with four conference rooms, four private offices, two half baths, and two kitchenettes. Two separate entrances support convenient access to the space. The property is located at 18-7000 Houston Rd in Florence, Kentucky, near I-71/75 and the airport, with shopping and dining nearby.
Key Highlights
- Four conference rooms and four private offices
- Two half baths and two kitchenettes
- Two separate entrances
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
$12,004
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
5.22%
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%
$240,080
$240.1K
Cap Rate 7%
$171,486
$171.5K
Cap Rate 9%
$133,378
$133.4K
Market Conditions
NOI Build-Up for 950 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
$20.5K $21.60/SF
− Vacancy
−$4.5K −$4.75/SF
EGI
$16.0K $16.85/SF
− OpEx
−$4.0K −$4.21/SF
NOI
$12.0K $12.64/SF
Area
Boone County, KY
Vacancy
22.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$240,080
Cap Rate 7%
$171,486
Cap Rate 9%
$133,378
Alternative Uses
Best Use
Office B
$171.5K
$150.1K – $200.1K
NOI $12,004 @ 7.0% cap · market cap 5.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$261.9K
$229.1K – $305.5K
NOI $18,331 @ 7.0% cap · market cap 7.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
330
Businesses Nearby
Explore this area
Business Placement
Demographics for 41042, KY
54,183
Population
23,640
Households
2.3
Avg Household Size
38
Median Age
28%
College-Educated
92%
High-School Grad
22.1 sq mi
ZIP Area
2,452
Density / Sq Mi
$75,582
Median Household Income
$43,501
Median Earnings
$1,240
Median Rent
$210,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Combined office suites provide conference rooms, private offices, kitchenettes, and separate entrances.
Where is this office units located?
The property is located at 18-7000 Houston Rd Florence, KY.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Four conference rooms and four private offices; Two half baths and two kitchenettes; Two separate entrances
