End-Unit Medical Office
For Sale
$127,500
30-6900 Houston Rd, Florence, KY 41042
Second-floor end unit with abundant natural light, open layout, private office, and ADA restroom for medical or professional use.
Property Size950 SF
Price / SF$134.21
Days on Market228
Property Features for 30-6900 Houston Rd
General Information
Standard status
Active
Size
950 SF
Building Details
Stories
2
Listing Agency:
exp realty, llc
(941) 462-3321
Listed By:
Caldwell Group
(859) 780-5511
Source:
Exprealty
Added: Jan 29
Changed: Aug 31
Last Checked: Sep 14 at 9:38AM
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 exp realty, llc
Investment Insights
Based on property information with market context.
Professional office condominium now available for sale or lease, offering approximately 1,000 SF across the second floor. The suite is an end unit with lots of natural light and a configuration that includes a large open space, one private office, and a reception area. The open area was opened up and can be reconfigured back into multiple offices, supporting a range of professional layouts. Additional improvements include a kitchenette and one private ADA-compliant restroom.
The property is located at 30-6900 Houston Rd in Florence, KY, with convenient access for both employees and clients. The surrounding area includes major retail and service amenities such as Walmart, Meijer, Kohl’s, dining and banking, as well as St. Elizabeth Medical Center.
This space is a practical fit for medical, professional, or service-oriented users looking for a well-designed office suite with an end-unit position, flexible interior layout, and dedicated restroom accommodations. The combination of reception space, a private office, and an open work area can support client-facing operations that benefit from daylit interiors and easy office reconfiguration.
The property is located at 30-6900 Houston Rd in Florence, KY, with convenient access for both employees and clients. The surrounding area includes major retail and service amenities such as Walmart, Meijer, Kohl’s, dining and banking, as well as St. Elizabeth Medical Center.
This space is a practical fit for medical, professional, or service-oriented users looking for a well-designed office suite with an end-unit position, flexible interior layout, and dedicated restroom accommodations. The combination of reception space, a private office, and an open work area can support client-facing operations that benefit from daylit interiors and easy office reconfiguration.
Key Highlights
- Approximately 1,000 SF professional office condo for sale or lease
- Second‑floor end unit with lots of natural light
- Opened‑up layout with large open space plus one private office and reception area
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
$11,578
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
9.08%
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%
$231,560
$231.6K
Cap Rate 7%
$165,400
$165.4K
Cap Rate 9%
$128,644
$128.6K
Market Conditions
NOI Build-Up for 950 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
$20.9K $21.96/SF
− Vacancy
−$1.6K −$1.65/SF
EGI
$19.3K $20.31/SF
− OpEx
−$7.7K −$8.13/SF
NOI
$11.6K $12.19/SF
Area
Boone County, KY
Vacancy
7.50%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
40.00%
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%
$231,560
Cap Rate 7%
$165,400
Cap Rate 9%
$128,644
Alternative Uses
Best Use
Office B
$171.5K
$150.1K – $200.1K
NOI $12,004 @ 7.0% cap · market cap 9.41%
Second Best
Healthcare Medical
$165.4K
$144.7K – $193.0K
NOI $11,578 @ 7.0% cap · market cap 9.08%
Theoretical Best
Office A
$261.9K
$229.1K – $305.5K
NOI $18,331 @ 7.0% cap · market cap 14.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
330
Businesses Nearby
Explore this area
Business Placement
Demographics for 41042, KY
54,183
Population
23,640
Households
2.3
Avg Household Size
38
Median Age
28%
College-Educated
92%
High-School Grad
22.1 sq mi
ZIP Area
2,452
Density / Sq Mi
$75,582
Median Household Income
$43,501
Median Earnings
$1,240
Median Rent
$210,500
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - Second-floor end unit with abundant natural light, open layout, private office, and ADA restroom for medical or professional use.
Where is this office units located?
The property is located at 30-6900 Houston Rd Florence, KY.
What is the asking price?
The asking price for this property is $127,500.
What are key features of this property?
This property features: Approximately 1,000 SF professional office condo for sale or lease; Second‑floor end unit with lots of natural light; Opened‑up layout with large open space plus one private office and reception area
