Free-Standing Office/Retail Building For
For Sale
Contact for pricing
555 Wessel Dr, Fairfield, OH
5,527 SF office/retail building with 33 parking spaces.
Property Size5,527 SF
Lot Size0.92 Acres
Price / SF$199.02
Days on Market281
Property Features for 555 Wessel Dr
General Information
Standard status
Active
Size
5,527 SF
Lot size
0.92 Acres
Property subtype
OFFICE
Listing Agency:
Cushman & Wakefield | Cincinnati
(513) 807-5840
Listed By:
Clare Holtmeier
(513) 322-0776
Source:
Moodyscre
Added: Nov 24, 2025
Changed: Jul 6
Last Checked: Aug 31 at 12:33AM
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 Cushman & Wakefield | Cincinnati
Investment Insights
Based on property information with market context.
This is a 5,527 square foot free-standing office/retail building with dimensions of 58 feet by 110 feet. The property includes 33 parking spaces and a monument sign. It is located on a corner across from Kroger and the Village Green Shopping Plaza, and is situated approximately 1/4 mile from the Fairfield Library and Fairfield Community Arts Center. The property is available for rent.
Key Highlights
- Great corner location across from Kroger and the Village Green Shopping Plaza.
- 5,527 SF Free‑Standing Office/Retail Building with 33 parking spaces.
- Benefit from excellent visibility with monument sign.
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
$62,945
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
5.72%
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%
$1,258,900
$1.3M
Cap Rate 7%
$899,214
$899.2K
Cap Rate 9%
$699,389
$699.4K
Market Conditions
NOI Build-Up for 5,527 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
$113.4K $20.52/SF
− Vacancy
−$29.5K −$5.34/SF
EGI
$83.9K $15.18/SF
− OpEx
−$21.0K −$3.80/SF
NOI
$62.9K $11.39/SF
Area
Butler County, OH
Vacancy
26.00%
Lease Rate
$20.52 /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%
$1,258,900
Cap Rate 7%
$899,214
Cap Rate 9%
$699,389
Alternative Uses
Best Use
Office B
$899.2K
$786.8K – $1.05M
NOI $62,945 @ 7.0% cap · market cap 5.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.09M
$956.2K – $1.27M
NOI $76,496 @ 7.0% cap · market cap 6.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
643
Businesses Nearby
Explore this area
Business Placement
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 building - 5,527 SF office/retail building with 33 parking spaces.
Where is this office building located?
The property is located at 555 Wessel Dr Fairfield, OH.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Great corner location across from Kroger and the Village Green Shopping Plaza.; 5,527 SF Free‑Standing Office/Retail Building with 33 parking spaces.; Benefit from excellent visibility with monument sign.
