Building Details

Year Built 1987

Buildings 1

Tenancy Single

Listing Agency: Lee & Associates - Dallas/Fort Worth

Listed By: Phillip Rosenfeld · License #TX 521093 Show Phone

Source: Crexi

Added: Aug 12 Changed: Oct 7 Last Checked: Oct 12 at 6:40PM

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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 Lee & Associates - Dallas/Fort Worth

Investment Insights

Based on property information with market context.

This 7,100-square-foot outpatient healthcare facility was built in 1987 and is leased to Hopebridge Autism Therapy Center. The property carries PO zoning and has 2.9 years remaining on its NN lease, along with one 5-year renewal option and 2% annual rent increases. Hopebridge has completed over $85,000 in recent facility improvements.

The facility is located at 2904 Foltz Drive in Edgewood, Kentucky, within the Cincinnati, OH-KY-IN metropolitan area. Access to I-275 places the property near Turkey Foot Middle School, Thomas More University, and a major regional healthcare center. The surrounding population is 63,491 within a 3-mile radius and 141,390 within a 5-mile radius.

Key Highlights

• 7,100‑square‑foot outpatient healthcare facility built in 1987
• Leased to Hopebridge Autism Therapy Center
• 2.9 years remaining on its NN lease

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$92,627

Cap Rate

6.18%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,852,540 $1.9M

Cap Rate 7%

$1,323,243 $1.3M

Cap Rate 9%

$1,029,189 $1.0M

Market Conditions

NOI Build-Up for 7,100 SF

Gross rent

$142.3K $20.04/SF

− Vacancy

−$18.8K −$2.65/SF

EGI

$123.5K $17.39/SF

− OpEx

−$30.9K −$4.35/SF

NOI

$92.6K $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 Rate 5%

$1,852,540

Cap Rate 7%

$1,323,243

Cap Rate 9%

$1,029,189

Alternative Uses

Best Use

Office B

$1.32M

$1.16M – $1.54M (±1% cap)

NOI $92,627 @ 7.0% cap · market cap 6.18%

Second Best

Healthcare Medical

$357.7K

$313.0K – $417.4K (±1% cap)

NOI $25,041 @ 7.0% cap · market cap 1.67%

Theoretical Best

Office A

$1.83M

$1.60M – $2.14M (±1% cap)

NOI $128,304 @ 7.0% cap · market cap 8.55%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Rehabilitation centers

Suggested Use

Top Pick Real Estate Agency Auto Parts Store Building Supply Big Box & Wholesale Store Grocery & Convenience Store Auto Repair Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

612

Businesses Nearby

Explore this area Business Placement

Demographics for 41017, KY

40,333

Population

16,569

Households

2.4

Avg Household Size

40

Median Age

48%

College-Educated

97%

High-School Grad

21.2 sq mi

ZIP Area

1,903

Density / Sq Mi

$100,645

Median Household Income

$51,808

Median Earnings

$985

Median Rent

$278,100

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Questions? Ask Rey

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What type of property is this? Where is this rehabilitation centers located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Rehabilitation center - Outpatient healthcare facility with 2.9 years remaining on its NN lease and one 5-year renewal option.

Where is this rehabilitation center located?

The property is located at 2904 Foltz Drive Edgewood, KY.

What is the asking price?

The asking price for this property is $1,500,000.

What are key features of this property?

This property features: 7,100‑square‑foot outpatient healthcare facility built in 1987; Leased to Hopebridge Autism Therapy Center; 2.9 years remaining on its NN lease