First-Floor End Unit Office
For Sale
$225,000
4759 Cornell Rd, Blue Ash, OH 45241
First-floor end unit with multiple private offices, break room, storage, and two restrooms within an office condo development.
Property Size1,814 SF
Price / SF$124.04
Days on Market131
Property Features for 4759 Cornell Rd
General Information
Standard status
Active
Size
1,814 SF
Taxes and HOA fees
Annual Taxes
$2,485
Listing Agency:
Keller Williams Seven Hills Re
(513) 371-5070
Listed By:
Joshua J Honken
(513) 657-8256
Source:
Exprealty
Added: May 13
Changed: Sep 3
Last Checked: Sep 19 at 2:42PM
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 Keller Williams Seven Hills Re
Investment Insights
Based on property information with market context.
This first-floor office condo is offered as an end unit and includes a front entry and a functional layout designed for professional use. The space features multiple private office areas, a spacious kitchen/break room, ample storage, and two restrooms to support everyday operations.
Located within the Perspectivas Park Commercial development, the property offers convenient on-site parking. Access is described as easy, with the location noted as just minutes from the highway.
For buyers seeking an office condominium with established interior improvements, this unit’s combination of private offices, break room, and two restrooms can support a range of business formats. Ownership also includes the added benefit of the condo association replacing the roof, providing long-term peace of mind. The end unit configuration and front entry further support client-facing arrival and straightforward day-to-day use.
Located within the Perspectivas Park Commercial development, the property offers convenient on-site parking. Access is described as easy, with the location noted as just minutes from the highway.
For buyers seeking an office condominium with established interior improvements, this unit’s combination of private offices, break room, and two restrooms can support a range of business formats. Ownership also includes the added benefit of the condo association replacing the roof, providing long-term peace of mind. The end unit configuration and front entry further support client-facing arrival and straightforward day-to-day use.
Key Highlights
- First‑floor end unit office condo with 1,814 sq ft of commercial space in Perspectivas Park Commercial development
- Multiple private office spaces plus a spacious kitchen/break room and ample storage
- Two restrooms within the unit
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
$17,074
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
7.59%
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%
$341,480
$341.5K
Cap Rate 7%
$243,914
$243.9K
Cap Rate 9%
$189,711
$189.7K
Market Conditions
NOI Build-Up for 1,814 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
$30.5K $16.80/SF
− Vacancy
−$7.7K −$4.25/SF
EGI
$22.8K $12.55/SF
− OpEx
−$5.7K −$3.14/SF
NOI
$17.1K $9.41/SF
Area
Hamilton County, OH
Vacancy
25.30%
Lease Rate
$16.80 /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%
$341,480
Cap Rate 7%
$243,914
Cap Rate 9%
$189,711
Alternative Uses
Best Use
Office B
$243.9K
$213.4K – $284.6K
NOI $17,074 @ 7.0% cap · market cap 7.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$325.2K
$284.6K – $379.4K
NOI $22,765 @ 7.0% cap · market cap 10.12%
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
1,511
Businesses Nearby
Explore this area
Business Placement
Demographics for 45241, OH
24,380
Population
11,131
Households
2.2
Avg Household Size
44
Median Age
48%
College-Educated
95%
High-School Grad
17.5 sq mi
ZIP Area
1,393
Density / Sq Mi
$94,943
Median Household Income
$60,857
Median Earnings
$1,137
Median Rent
$292,000
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office units - First-floor end unit with multiple private offices, break room, storage, and two restrooms within an office condo development.
Where is this office units located?
The property is located at 4759 Cornell Rd Blue Ash, OH.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: First‑floor end unit office condo with 1,814 sq ft of commercial space in Perspectivas Park Commercial development; Multiple private office spaces plus a spacious kitchen/break room and ample storage; Two restrooms within the unit
