Versatile Flex Office Corner
For Sale
Contact for pricing
2108 Central Parkway, Cincinnati, OH 45214
Corner property with ample parking and three-street access for flexible office or construction headquarters use.
Property Size17,774 SF
Price / SF$55.70
Days on Market69
Property Features for 2108 Central Parkway
General Information
Standard status
Active
Size
17,774 SF
Class
C
Total Parking Spaces
15
Property subtype
Business for Sale
Zoning
CN-M-T
Investment Type
Owner/User
Building Details
Year Built
1980
Buildings
4
Stories
3
Listing Agency:
Sibcy Cline
(513) 378-5801
Listed By:
Nat Comisar · License #OH SAL.2006000748
Source:
Crexi
Added: Jun 2
Changed: Aug 8
Last Checked: Jul 19 at 7:46AM
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
Investment Insights
Based on property information with market context.
This versatile corner property offers a configuration well-suited to creative office use or a construction HQ, with multiple entrances designed for straightforward day-to-day access. The asset is positioned to support tenant needs that require both working space and practical on-site usability.
Located at 2108 Central Parkway in Cincinnati, Ohio, the property sits at Central and Mohawk with high visibility and ample parking. It also provides entrances on three separate streets, giving users convenient approach options from different directions.
Zoned CN-M-T (Commercial-Neighborhood Mixed-Transit), the property is intended to accommodate a range of commercial uses. For businesses looking for a single site that can support administrative functions alongside operational activity, the three-street access and parking availability can be particularly practical. Tenants, buyers, and operators should review the zoning and their intended use for compliance, but the layout and accessibility support flexibility across office and field-oriented operations.
Located at 2108 Central Parkway in Cincinnati, Ohio, the property sits at Central and Mohawk with high visibility and ample parking. It also provides entrances on three separate streets, giving users convenient approach options from different directions.
Zoned CN-M-T (Commercial-Neighborhood Mixed-Transit), the property is intended to accommodate a range of commercial uses. For businesses looking for a single site that can support administrative functions alongside operational activity, the three-street access and parking availability can be particularly practical. Tenants, buyers, and operators should review the zoning and their intended use for compliance, but the layout and accessibility support flexibility across office and field-oriented operations.
Key Highlights
- Corner property at Central and Mohawk with high visibility and ample parking
- Entrances on 3 separate streets for flexible access
- Zoned CN‑M‑T (Commercial‑Neighborhood Mixed‑Transit)
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
$87,013
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
8.79%
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%
$1,740,260
$1.7M
Cap Rate 7%
$1,243,043
$1.2M
Cap Rate 9%
$966,811
$966.8K
Market Conditions
NOI Build-Up for 17,774 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
$132.2K $7.44/SF
− Vacancy
−$7.9K −$0.45/SF
EGI
$124.3K $6.99/SF
− OpEx
−$37.3K −$2.10/SF
NOI
$87.0K $4.90/SF
Area
Cincinnati, OH
Vacancy
6.00%
Lease Rate
$7.44 /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%
$1,740,260
Cap Rate 7%
$1,243,043
Cap Rate 9%
$966,811
Alternative Uses
Best Use
Office B
$3.03M
$2.65M – $3.54M
NOI $212,134 @ 7.0% cap · market cap 21.43%
Second Best
Flex RnD
$2.21M
$1.93M – $2.58M
NOI $154,719 @ 7.0% cap · market cap 15.63%
Theoretical Best
Office A
$3.53M
$3.09M – $4.12M
NOI $247,325 @ 7.0% cap · market cap 24.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,840
Businesses Nearby
Explore this area
Business Placement
Demographics for 45214, OH
8,901
Population
5,028
Households
1.8
Avg Household Size
32
Median Age
23%
College-Educated
88%
High-School Grad
2.7 sq mi
ZIP Area
3,297
Density / Sq Mi
$26,348
Median Household Income
$27,243
Median Earnings
$762
Median Rent
$102,000
Median Home Value
Market
Vacancy Rate% for Office in Cincinnati, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Creative space - Corner property with ample parking and three-street access for flexible office or construction headquarters use.
Where is this creative space located?
The property is located at 2108 Central Parkway Cincinnati, OH.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: Corner property at Central and Mohawk with high visibility and ample parking; Entrances on 3 separate streets for flexible access; Zoned CN‑M‑T (Commercial‑Neighborhood Mixed‑Transit)
