Flex Space with Dock
For Sale
$4,700,000
5545 Fair Ln, Cincinnati, OH 45227
Versatile industrial facility with dedicated office area, warehouse HVAC, and multiple loading options.
Property Size65,628 SF
Lot Size3.50 Acres
Price / SF$71.62
Days on Market46
Property Features for 5545 Fair Ln
General Information
Standard status
Active
Size
65,628 SF
Class
C
Lot size
3.50 Acres
Property subtype
industrial
Warehouse & Industrial
Clear Height
17 ft
Office Build-Out
13,000 SF
Dock-High Doors
6
Drive-In Doors
1
Column Spacing
25 x 35 ft
Power
2,000 amps
Voltage
480 V
Three-Phase Power
Yes
Sprinkler System
Yes
Conditioned Warehouse
Yes
Additional Details
Highway Access
Yes
Listing Agency:
Cincinnati
(513) 297-2511
Listed By:
Tom Fairhurst · License #219073
(513) 297-2511
Source:
Property.jll
Added: Jul 16
Changed: Aug 30
Last Checked: Aug 30 at 1:11PM
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 Cincinnati
Investment Insights
Based on property information with market context.
This 65,628-square-foot flex facility includes 13,000 square feet of office space and warehouse areas with clear heights ranging from 14 to 17 feet. Loading infrastructure includes six dock doors and one drive-in door. The building is equipped with wet and foam fire-suppression systems, 100% HVAC coverage in the rear warehouse, and column spacing of 25 by 35 feet. Electrical service includes 2,000A/480V/3 Phase and 600A/208V/3 Phase systems.
Located at 5545 Fair Ln in Cincinnati, the property is positioned in the Madisonville industrial corridor with access to I-71 and I-275. Its East Cincinnati setting provides connections to downtown Cincinnati, Northern Kentucky, and the broader Greater Cincinnati logistics network. The site encompasses 3.502 acres.
Located at 5545 Fair Ln in Cincinnati, the property is positioned in the Madisonville industrial corridor with access to I-71 and I-275. Its East Cincinnati setting provides connections to downtown Cincinnati, Northern Kentucky, and the broader Greater Cincinnati logistics network. The site encompasses 3.502 acres.
Key Highlights
- 65,628 SF flex facility with 13,000 SF of office space
- 14'-17' clear height in warehouse areas
- Six dock doors and one drive‑in door
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
$383,904
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
8.17%
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%
$7,678,080
$7.7M
Cap Rate 7%
$5,484,343
$5.5M
Cap Rate 9%
$4,265,600
$4.3M
Market Conditions
NOI Build-Up for 65,628 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
$488.3K $7.44/SF
− Vacancy
−$36.6K −$0.56/SF
EGI
$451.7K $6.88/SF
− OpEx
−$67.7K −$1.03/SF
NOI
$383.9K $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%
$7,678,080
Cap Rate 7%
$5,484,343
Cap Rate 9%
$4,265,600
Alternative Uses
Best Use
Office B
$11.19M
$9.79M – $13.05M
NOI $783,275 @ 7.0% cap · market cap 16.67%
Second Best
Flex RnD
$8.16M
$7.14M – $9.52M
NOI $571,279 @ 7.0% cap · market cap 12.15%
Theoretical Best
Office A
$13.05M
$11.42M – $15.22M
NOI $913,214 @ 7.0% cap · market cap 19.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
17 ft
Clear height
6
Dock-high doors
1
Drive-in doors
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
523
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 45227, OH
18,427
Population
9,425
Households
2
Avg Household Size
38
Median Age
53%
College-Educated
94%
High-School Grad
5.8 sq mi
ZIP Area
3,177
Density / Sq Mi
$70,614
Median Household Income
$50,011
Median Earnings
$1,220
Median Rent
$256,400
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?
Flex space - Versatile industrial facility with dedicated office area, warehouse HVAC, and multiple loading options.
Where is this flex space located?
The property is located at 5545 Fair Ln Cincinnati, OH.
What is the asking price?
The asking price for this property is $4,700,000.
What are key features of this property?
This property features: 65,628 SF flex facility with 13,000 SF of office space; 14'-17' clear height in warehouse areas; Six dock doors and one drive‑in door
