Standalone Medical/Professional Office
For Sale
$595,000
4365 Reading Rd, Cincinnati, OH 45229
1,954 SF medical/professional office building for sale.
Property Size1,954 SF
Lot Size0.62 Acres
Price / SF$304.50
Days on Market90
Property Features for 4365 Reading Rd
General Information
Standard status
Active
Size
1,954 SF
Lot size
0.62 Acres
Taxes and HOA fees
Annual Taxes
$10,529
Listing Agency:
Dwyer Commercial Real Estate
(513) 532-4909
Listed By:
Matthew Morris · License #BRKP.0000209660
(513) 532-4909
Source:
Exprealty
Added: May 27
Changed: Aug 23
Last Checked: Aug 23 at 2:46AM
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 Dwyer Commercial Real Estate
Investment Insights
Based on property information with market context.
This 1,954 square foot, one-story clinic, constructed in 1996, is a standalone medical/professional office building located on Reading Road in Cincinnati, OH. The property is situated on a 0.622-acre site and features 12-foot ceilings and a flexible layout suitable for medical, dental, therapy, or professional office uses. The asphalt parking lot provides approximately 16 on-site parking spaces. Zoned CG-A-T, the property is suitable for owner-users seeking a visible location or investors interested in a corridor with long-term appeal. The Paddock Hills location provides access to I-71 and SR-562/Norwood Lateral, and is located minutes from downtown Cincinnati. The property is surrounded by neighborhood amenities and a medical/professional presence.
Key Highlights
- Standalone 1,954 SF medical/professional office building on 0.622‑acre site.
- Highly visible location on Reading Road, a busy north‑south corridor.
- Approximately 16 on‑site parking spaces, a rare amenity in an urban setting.
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
$23,321
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
3.92%
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%
$466,420
$466.4K
Cap Rate 7%
$333,157
$333.2K
Cap Rate 9%
$259,122
$259.1K
Market Conditions
NOI Build-Up for 1,954 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
$40.3K $20.64/SF
− Vacancy
−$9.2K −$4.73/SF
EGI
$31.1K $15.91/SF
− OpEx
−$7.8K −$3.98/SF
NOI
$23.3K $11.94/SF
Area
Cincinnati, OH
Vacancy
22.90%
Lease Rate
$20.64 /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%
$466,420
Cap Rate 7%
$333,157
Cap Rate 9%
$259,122
Alternative Uses
Best Use
Office B
$333.2K
$291.5K – $388.7K
NOI $23,321 @ 7.0% cap · market cap 3.92%
Second Best
Healthcare Medical
$323.6K
$283.1K – $377.5K
NOI $22,651 @ 7.0% cap · market cap 3.81%
Theoretical Best
Office A
$388.4K
$339.9K – $453.2K
NOI $27,190 @ 7.0% cap · market cap 4.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
409
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 45229, OH
12,540
Population
7,813
Households
1.6
Avg Household Size
37
Median Age
31%
College-Educated
87%
High-School Grad
2.7 sq mi
ZIP Area
4,644
Density / Sq Mi
$30,829
Median Household Income
$25,772
Median Earnings
$831
Median Rent
$316,000
Median Home Value
Market
Vacancy Rate% for Office in Cincinnati, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - 1,954 SF medical/professional office building for sale.
Where is this medical office space located?
The property is located at 4365 Reading Rd Cincinnati, OH.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Standalone 1,954 SF medical/professional office building on 0.622‑acre site.; Highly visible location on Reading Road, a busy north‑south corridor.; Approximately 16 on‑site parking spaces, a rare amenity in an urban setting.
