Second-Floor Office
18-7000 Houston Rd, Florence, KY 41042
For Sale
$230,000
Combined office suites provide conference rooms, private offices, kitchenettes, and separate entrances.
Property Size950 SF
Price / SF$242.11
Days on Market103
Property Features for 18-7000 Houston Rd
General Information
Standard status
Size
Listing Agency:
Sibcy Cline, REALTORS-Florence
(859) 525-8888
Listed By:
Sharon Hilinski
(859) 750-9737
Source:
Exprealty
Added: Jul 30
Changed: Oct 26
Last Checked: Nov 8 at 11:11AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
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 / Yr
$12,004
Cap Rate
5.22%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
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
Frequently Asked Questions
What type of property is this?
Office unit - Combined office suites provide conference rooms, private offices, kitchenettes, and separate entrances.
Where is this office unit 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
