Flex Retail/Warehouse
For Sale
Contact for pricing
2373 Kemper Lane, Cincinnati, OH 45206
Flex office and workshop layout in a free-span building with 1/4-acre parking and three-phase power.
Property Size5,700 SF
Lot Size0.25 Acres
Price / SF$138.60
Days on Market130
Property Features for 2373 Kemper Lane
General Information
Standard status
Active
Size
5,700 SF
Lot size
0.25 Acres
Property subtype
Land
Building Details
Year Built
1975
Year Renovated
2009
Listing Agency:
Sibcy Cline
(513) 378-5801
Listed By:
Nat Comisar · License #OH SAL.2006000748
Source:
Crexi
Added: Apr 2
Changed: Aug 8
Last Checked: Aug 7 at 8:00AM
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 5,700 sf retail/warehouse building is currently configured as office and workshop space, with three bathrooms plus a shower. The building is free span, giving flexibility to reconfigure the interior to fit a range of light industrial, service, or storage needs. Key building systems and major components were updated in 2009, including three HVAC units and the roof. The property also includes 3-phase electric, supporting a wide range of operational requirements.
The site includes a 1/4-acre parking lot, providing on-site parking for customers, employees, or service activity. The property is located in the heart of Walnut Hills, within Cincinnati, OH 45206.
The current office-and-workshop configuration can accommodate established service uses such as a framing shop, while the free-span layout and three-phase power make the building practical for tenants looking to adapt the space. With multiple restrooms and on-site parking, the property supports day-to-day operations for small teams and customer-facing workflows.
The site includes a 1/4-acre parking lot, providing on-site parking for customers, employees, or service activity. The property is located in the heart of Walnut Hills, within Cincinnati, OH 45206.
The current office-and-workshop configuration can accommodate established service uses such as a framing shop, while the free-span layout and three-phase power make the building practical for tenants looking to adapt the space. With multiple restrooms and on-site parking, the property supports day-to-day operations for small teams and customer-facing workflows.
Key Highlights
- 5,700 SF free‑span retail/warehouse building, currently configured as office & workshop
- 1/4‑acre parking lot on site
- 3‑phase electric service
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
$68,030
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
8.61%
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%
$1,360,600
$1.4M
Cap Rate 7%
$971,857
$971.9K
Cap Rate 9%
$755,889
$755.9K
Market Conditions
NOI Build-Up for 5,700 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
$117.6K $20.64/SF
− Vacancy
−$26.9K −$4.73/SF
EGI
$90.7K $15.91/SF
− OpEx
−$22.7K −$3.98/SF
NOI
$68.0K $11.94/SF
Area
Cincinnati, OH
Vacancy
22.90%
Lease Rate
$20.64 /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%
$1,360,600
Cap Rate 7%
$971,857
Cap Rate 9%
$755,889
Alternative Uses
Best Use
Office B
$971.9K
$850.4K – $1.13M
NOI $68,030 @ 7.0% cap · market cap 8.61%
Second Best
Flex RnD
$708.8K
$620.2K – $827.0K
NOI $49,617 @ 7.0% cap · market cap 6.28%
Theoretical Best
Office A
$1.13M
$991.5K – $1.32M
NOI $79,316 @ 7.0% cap · market cap 10.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
850
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 45206, OH
10,670
Population
7,191
Households
1.5
Avg Household Size
37
Median Age
49%
College-Educated
87%
High-School Grad
2.0 sq mi
ZIP Area
5,335
Density / Sq Mi
$51,128
Median Household Income
$44,936
Median Earnings
$849
Median Rent
$269,900
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?
Flex space - Flex office and workshop layout in a free-span building with 1/4-acre parking and three-phase power.
Where is this flex space located?
The property is located at 2373 Kemper Lane Cincinnati, OH.
What is the asking price?
The asking price for this property is $790,000.
What are key features of this property?
This property features: 5,700 SF free‑span retail/warehouse building, currently configured as office & workshop; 1/4‑acre parking lot on site; 3‑phase electric service
