Open Warehouse with Office
For Sale
$600,000
434 Mcgregor Ave, Cincinnati, OH 45206
Open warehouse includes a drive-in truck door plus office and showroom/reception areas.
Property Size9,000 SF
Price / SF$66.67
Days on Market137
Property Features for 434 Mcgregor Ave
General Information
Standard status
Active
Size
9,000 SF
Additional Details
Drive-In Doors
1
Taxes and HOA fees
Annual Taxes
$5,232
Listing Agency:
Comey & Shepherd
(513) 241-3400
Listed By:
Sean D Donovan · License #2013002134
(513) 235-9951
Source:
Exprealty
Added: Apr 21
Changed: Sep 2
Last Checked: Sep 4 at 11:41AM
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 Comey & Shepherd
Investment Insights
Based on property information with market context.
This property is a 9,000-square-foot open warehouse with a drive-in truck door. The space also includes office, showroom, and a reception area, providing a built-in front-of-house component for customer or visitor traffic.
The warehouse is described as being located close to Downtown, hospitals, and UC campus, which may support a variety of back-of-house and light distribution needs depending on fit.
As presented, the combination of an open warehouse layout with dedicated office and showroom/reception space can accommodate tenants looking for both operational storage/work areas and customer-facing space within the same facility.
The warehouse is described as being located close to Downtown, hospitals, and UC campus, which may support a variety of back-of-house and light distribution needs depending on fit.
As presented, the combination of an open warehouse layout with dedicated office and showroom/reception space can accommodate tenants looking for both operational storage/work areas and customer-facing space within the same facility.
Key Highlights
- 9000 SF open warehouse
- Includes a drive‑in truck door for vehicle access
- Office, showroom, and reception areas included
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
$52,647
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
8.77%
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%
$1,052,940
$1.1M
Cap Rate 7%
$752,100
$752.1K
Cap Rate 9%
$584,967
$585.0K
Market Conditions
NOI Build-Up for 9,000 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
$67.0K $7.44/SF
− Vacancy
−$5.0K −$0.56/SF
EGI
$61.9K $6.88/SF
− OpEx
−$9.3K −$1.03/SF
NOI
$52.6K $5.85/SF
Area
Cincinnati, OH
Vacancy
7.50%
Lease Rate
$7.44 /SF/Yr
Expense Ratio
15.00%
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%
$1,052,940
Cap Rate 7%
$752,100
Cap Rate 9%
$584,967
Alternative Uses
Best Use
Warehouse
$752.1K
$658.1K – $877.5K
NOI $52,647 @ 7.0% cap · market cap 8.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.79M
$1.57M – $2.09M
NOI $125,235 @ 7.0% cap · market cap 20.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
2,644
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 45206, OH
10,670
Population
7,191
Households
1.5
Avg Household Size
37
Median Age
49%
College-Educated
87%
High-School Grad
2.0 sq mi
ZIP Area
5,335
Density / Sq Mi
$51,128
Median Household Income
$44,936
Median Earnings
$849
Median Rent
$269,900
Median Home Value
Market
Vacancy Rate% for Industrial in Cincinnati, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Open warehouse includes a drive-in truck door plus office and showroom/reception areas.
Where is this warehouse located?
The property is located at 434 Mcgregor Ave Cincinnati, OH.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 9000 SF open warehouse; Includes a drive‑in truck door for vehicle access; Office, showroom, and reception areas included
