First-Floor Office Condo End
For Sale
Contact for pricing
Cornell Road 4D, Blue Ash, OH 45241
End unit first-floor office condo with private offices, break room, storage, and two restrooms.
Property Size1,814 SF
Price / SF$124.04
Days on Market117
Property Features for Cornell Road 4D
General Information
Standard status
Active
Size
1,814 SF
Property subtype
Land
Additional Details
Highway Access
Yes
Building Details
Year Built
1984
Listing Agency:
Keller Williams Seven Hills Re
Listed By:
Joshua Honken
(513) 657-8256
Source:
Crexi
Added: May 13
Changed: Sep 2
Last Checked: Sep 3 at 10:02AM
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 end unit provides 1,814 square feet of commercial space designed for professional use. The layout includes multiple private office spaces, a spacious kitchen or break room, ample storage, and two restrooms. A welcoming front entry supports easy daily access for staff and clients.
The property is located within the Perspectivas Park Commercial development. It offers convenient on-site parking and is positioned just minutes from the highway, supporting straightforward access for business operations.
For buyers seeking a ready-to-use office configuration, the combination of private offices, break room, storage, and two restrooms makes the space well-suited for a range of professional and business users. The condo association will be replacing the roof, providing added reassurance for long-term ownership.
The property is located within the Perspectivas Park Commercial development. It offers convenient on-site parking and is positioned just minutes from the highway, supporting straightforward access for business operations.
For buyers seeking a ready-to-use office configuration, the combination of private offices, break room, storage, and two restrooms makes the space well-suited for a range of professional and business users. The condo association will be replacing the roof, providing added reassurance for long-term ownership.
Key Highlights
- End unit first‑floor office condo in Perspectivas Park Commercial development
- 1,814 sq ft commercial space with multiple private office spaces
- Includes kitchen/break room, ample storage, and two restrooms
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
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
465
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
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 units - End unit first-floor office condo with private offices, break room, storage, and two restrooms.
Where is this office units located?
The property is located at Cornell Road 4D 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: End unit first‑floor office condo in Perspectivas Park Commercial development; 1,814 sq ft commercial space with multiple private office spaces; Includes kitchen/break room, ample storage, and two restrooms
