Flex Office and
For Sale
$3,399,000
60 Overbrook Drive, Monroe, OH 45050
Commercial Sale, Monroe, OH
Property Size20,534 SF
Lot Size2.17 Acres
Price / SF$165.53
Days on Market493
Property Features for 60 Overbrook Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Exterior features
Lights
Subdivision
Butler-W18
Standard status
Active
APN
C1800-005.000-091
Size
20,534 SF
Lot size
2.17 Acres
Utilities
Heating system
Central
Amenities
generators
Building Details
Year built
2005
Flooring type
Carpet
Listing Agency:
eXp Realty
(216) 242-2322
Listed By:
Luana King · License #2024005617
(866) 212-4991
Added: Apr 16, 2025
Changed: Aug 20
Last Checked: Aug 21 at 8:06PM
MLS# 1839007
Copyright © 2026 MLS of Greater Cincinnati, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2005, this flex-style commercial property combines open-concept office space with a climate-controlled warehouse. The office area totals 15,599 SF and includes 21 private offices, four conference rooms, two large main rooms, a breakroom, and a media/computer room. A 4,935 SF warehouse portion is served by two loading docks and features high ceilings.
The property is located in Monroe, Ohio, and is described as minutes from I-75. The setting is characterized as a high-traffic area near Cincinnati Premium Outlets, Miami Valley Gaming, and major retailers, supporting a convenient customer and delivery access profile.
Generator-backed power is a standout feature, with three industrial-grade generators. The site is zoned commercial and offers ample parking, designed for flexible use and immediate occupancy.
The property is located in Monroe, Ohio, and is described as minutes from I-75. The setting is characterized as a high-traffic area near Cincinnati Premium Outlets, Miami Valley Gaming, and major retailers, supporting a convenient customer and delivery access profile.
Generator-backed power is a standout feature, with three industrial-grade generators. The site is zoned commercial and offers ample parking, designed for flexible use and immediate occupancy.
Key Highlights
- 20,534 SF multi‑use commercial building on 2.1678 acres in Monroe, OH
- Office space totals 15,599 SF with 21 private offices, 4 conference rooms, breakroom, and media/computer room
- 4,935 SF climate‑controlled warehouse with 2 loading docks and high ceilings
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
$233,854
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
6.88%
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%
$4,677,080
$4.7M
Cap Rate 7%
$3,340,771
$3.3M
Cap Rate 9%
$2,598,378
$2.6M
Market Conditions
NOI Build-Up for 20,534 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
$421.4K $20.52/SF
− Vacancy
−$109.6K −$5.34/SF
EGI
$311.8K $15.18/SF
− OpEx
−$78.0K −$3.80/SF
NOI
$233.9K $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%
$4,677,080
Cap Rate 7%
$3,340,771
Cap Rate 9%
$2,598,378
Alternative Uses
Best Use
Office B
$3.34M
$2.92M – $3.90M
NOI $233,854 @ 7.0% cap · market cap 6.88%
Second Best
Warehouse
$2.24M
$1.96M – $2.61M
NOI $156,834 @ 7.0% cap · market cap 4.61%
Theoretical Best
Office A
$4.06M
$3.55M – $4.74M
NOI $284,199 @ 7.0% cap · market cap 8.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Dock-high doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
240
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 45050, OH
12,173
Population
4,395
Households
2.8
Avg Household Size
38
Median Age
42%
College-Educated
96%
High-School Grad
8.4 sq mi
ZIP Area
1,449
Density / Sq Mi
$104,519
Median Household Income
$53,785
Median Earnings
$1,519
Median Rent
$273,800
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?
Flex space - Owner-user or investment property with office buildout, climate-controlled warehouse, two loading docks, and industrial-grade generator power.
Where is this flex space located?
The property is located at 60 Overbrook Drive Monroe, OH.
What is the asking price?
The asking price for this property is $3,399,000.
What are key features of this property?
This property features: 20,534 SF multi‑use commercial building on 2.1678 acres in Monroe, OH; Office space totals 15,599 SF with 21 private offices, 4 conference rooms, breakroom, and media/computer room; 4,935 SF climate‑controlled warehouse with 2 loading docks and high ceilings
