Medical Office Space For
For Sale
Contact for pricing
2701 Chancellor Dr, Crestview Hills, KY
Medical office space near St. Elizabeth Hospital with highway access.
Property Size5,530 SF
Lot Size1.26 Acres
Price / SF$199
Days on Market295
Property Features for 2701 Chancellor Dr
General Information
Standard status
Active
Size
5,530 SF
Lot size
1.26 Acres
Property subtype
OFFICE
Listing Agency:
Colliers | Cincinnati
(513) 505-4200
Listed By:
Fred Macke · License #BRKP.0000234706
(513) 505-4200
Source:
Moodyscre
Added: Oct 17, 2025
Changed: Jul 6
Last Checked: Jul 21 at 6:48AM
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 Colliers | Cincinnati
Investment Insights
Based on property information with market context.
This 5,530 square foot property is suitable for medical offices. The area features a high concentration of medical offices and is located near St. Elizabeth Hospital. The location provides convenient access to nearby amenities and the highway.
Key Highlights
- Close proximity to St. Elizabeth Hospital
- Area rich with other medical offices
- Many amenities nearby
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
$72,145
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
6.56%
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%
$1,442,900
$1.4M
Cap Rate 7%
$1,030,643
$1.0M
Cap Rate 9%
$801,611
$801.6K
Market Conditions
NOI Build-Up for 5,530 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
$110.8K $20.04/SF
− Vacancy
−$14.6K −$2.65/SF
EGI
$96.2K $17.39/SF
− OpEx
−$24.0K −$4.35/SF
NOI
$72.1K $13.05/SF
Area
Kenton County, KY
Vacancy
13.20%
Lease Rate
$20.04 /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%
$1,442,900
Cap Rate 7%
$1,030,643
Cap Rate 9%
$801,611
Alternative Uses
Best Use
Office B
$1.03M
$901.8K – $1.20M
NOI $72,145 @ 7.0% cap · market cap 6.56%
Second Best
Healthcare Medical
$278.6K
$243.8K – $325.1K
NOI $19,503 @ 7.0% cap · market cap 1.77%
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $99,933 @ 7.0% cap · market cap 9.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,077
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office space near St. Elizabeth Hospital with highway access.
Where is this medical office space located?
The property is located at 2701 Chancellor Dr Crestview Hills, KY.
What is the asking price?
The asking price for this property is $1,100,470.
What are key features of this property?
This property features: Close proximity to St. Elizabeth Hospital; Area rich with other medical offices; Many amenities nearby
