Corner Office
For Sale
$390,000
3590 Pleasant Ave, Hamilton, OH 45015
Configured with reception space, private rooms, and a substantial shared work area.
Property Size1,247 SF
Price / SF$312.75
Days on Market9
Property Features for 3590 Pleasant Ave
General Information
Standard status
Active
Size
1,247 SF
Building Details
Year Built
1965
Listing Agency:
OwnerLand Realty, Inc.
(513) 479-1324
Listed By:
Charles C Shafer
Source:
Missyfriede
Added: Aug 22
Changed: Aug 30
Last Checked: Aug 25 at 5:10AM
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 OwnerLand Realty, Inc.
Investment Insights
Based on property information with market context.
This 1,247-square-foot office building at 3590 Pleasant Ave features a reception and office area, a large central open workspace, and several smaller individual rooms. The arrangement combines shared space with separate rooms for private work areas.
The property occupies approximately 3/4 acre at a traffic-signalized corner, providing additional site area around the building. Its office layout and site configuration support a range of business operations without relying on a highly specialized buildout.
The property occupies approximately 3/4 acre at a traffic-signalized corner, providing additional site area around the building. Its office layout and site configuration support a range of business operations without relying on a highly specialized buildout.
Key Highlights
- 1,247‑square‑foot office building
- Approximately 3/4‑acre site
- Traffic‑signalized corner lot
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
$14,202
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
3.64%
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%
$284,040
$284.0K
Cap Rate 7%
$202,886
$202.9K
Cap Rate 9%
$157,800
$157.8K
Market Conditions
NOI Build-Up for 1,247 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
$25.6K $20.52/SF
− Vacancy
−$6.7K −$5.34/SF
EGI
$18.9K $15.18/SF
− OpEx
−$4.7K −$3.80/SF
NOI
$14.2K $11.39/SF
Area
Butler County, OH
Vacancy
26.00%
Lease Rate
$20.52 /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%
$284,040
Cap Rate 7%
$202,886
Cap Rate 9%
$157,800
Alternative Uses
Best Use
Office B
$202.9K
$177.5K – $236.7K
NOI $14,202 @ 7.0% cap · market cap 3.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$246.6K
$215.7K – $287.7K
NOI $17,259 @ 7.0% cap · market cap 4.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
146
Businesses Nearby
Explore this area
Business Placement
Demographics for 45015, OH
12,103
Population
5,146
Households
2.4
Avg Household Size
37
Median Age
11%
College-Educated
87%
High-School Grad
5.6 sq mi
ZIP Area
2,161
Density / Sq Mi
$45,543
Median Household Income
$37,660
Median Earnings
$1,041
Median Rent
$116,600
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Configured with reception space, private rooms, and a substantial shared work area.
Where is this office building located?
The property is located at 3590 Pleasant Ave Hamilton, OH.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: 1,247‑square‑foot office building; Approximately 3/4‑acre site; Traffic‑signalized corner lot
