Dual-Building Facility in Premier
For Sale
Contact for pricing
2919 Hebron Park Dr, Hebron, KY 41048
9,800 SF facility on 1.7 acres near airport.
Property Size9,800 SF
Lot Size1.70 Acres
Price / SF$224.49
Days on Market153
Property Features for 2919 Hebron Park Dr
General Information
Standard status
Active
Size
9,800 SF
Lot size
1.70 Acres
Property subtype
Retail
Zoning
C
Building Details
Year Built
1995
Buildings
2
Stories
1
Listing Agency:
Astonish Commercial Real Estate Services
(513) 322-6308
Listed By:
Michael Bergman · License #BRKM.2020007859
Source:
Crexi
Added: Mar 12
Changed: Aug 8
Last Checked: Aug 11 at 2:24PM
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 Astonish Commercial Real Estate Services
Investment Insights
Based on property information with market context.
This 9,800 SF dual-building facility is strategically positioned within Northern Kentucky’s premier industrial corridor. Constructed in 1995, the property is situated on 1.7 acres and offers a versatile operational footprint. It consists of a 4,200 SF building with four service bays and a 5,600 SF building featuring three additional bays, providing a total of seven service points. The property can accommodate diverse industrial or fleet requirements. Located just minutes from the Cincinnati/Northern Kentucky International Airport (CVG), the site has immediate access to the I-275 beltway, ensuring logistical connectivity for manufacturing, distribution, or large-scale service operations throughout the tri-state region.
Key Highlights
- Premier industrial corridor location in Northern Kentucky.
- Immediate access to I‑275 and minutes from Cincinnati/Northern Kentucky International Airport (CVG).
- Dual‑building facility totaling 9,800 SF on 1.7 acres.
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
$118,294
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
5.38%
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%
$2,365,880
$2.4M
Cap Rate 7%
$1,689,914
$1.7M
Cap Rate 9%
$1,314,378
$1.3M
Market Conditions
NOI Build-Up for 9,800 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
$176.4K $18.00/SF
− Vacancy
−$7.4K −$0.76/SF
EGI
$169.0K $17.24/SF
− OpEx
−$50.7K −$5.17/SF
NOI
$118.3K $12.07/SF
Area
Boone County, KY
Vacancy
4.20%
Lease Rate
$18.00 /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%
$2,365,880
Cap Rate 7%
$1,689,914
Cap Rate 9%
$1,314,378
Alternative Uses
Best Use
Retail
$1.69M
$1.48M – $1.97M
NOI $118,294 @ 7.0% cap · market cap 5.38%
Second Best
Industrial
$869.6K
$760.9K – $1.01M
NOI $60,871 @ 7.0% cap · market cap 2.77%
Theoretical Best
Office A
$2.70M
$2.36M – $3.15M
NOI $189,101 @ 7.0% cap · market cap 8.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
265
Businesses Nearby
159k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 33%
Groceries 33%
Shops & Services 32%
Electronics 1%
Kroger
Groceries
52,521 visits/mo
0.3 miles
McDonald's
Dining
35,023 visits/mo
0.2 miles
Kroger Fuel Center
Shops & Services
23,108 visits/mo
0.3 miles
Dollar General
Shops & Services
9,235 visits/mo
0.3 miles
Taco Bell
Dining
8,591 visits/mo
0.2 miles
Demographics for 41048, KY
16,523
Population
5,562
Households
3
Avg Household Size
35
Median Age
43%
College-Educated
95%
High-School Grad
33.5 sq mi
ZIP Area
493
Density / Sq Mi
$129,354
Median Household Income
$60,009
Median Earnings
$1,350
Median Rent
$306,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Randy's Auto Body — 2925 hebron park dr, hebron, ky 41048
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- Austin's Auto Body — 2384 petersburg rd, hebron, ky 41048
- PODIUM AUTOMOTIVE — 1938 Petersburg Rd, Hebron, KY 41048
Frequently Asked Questions
What type of property is this?
Auto shop - 9,800 SF facility on 1.7 acres near airport.
Where is this auto shop located?
The property is located at 2919 Hebron Park Dr Hebron, KY.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Premier industrial corridor location in Northern Kentucky.; Immediate access to I‑275 and minutes from Cincinnati/Northern Kentucky International Airport (CVG).; Dual‑building facility totaling 9,800 SF on 1.7 acres.
