Office Condominium with ADA
For Sale
$133,800
6900 Houston Road, Florence, KY 41042
COMMERCIAL - Florence, KY
Property Size950 SF
Lot Size0.01 Acres
Price / SF$140.84
Days on Market204
Property Features for 6900 Houston Road
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Business, Commercial
Parking features
Parking Lot
Directions
KY 18 to Houston Rd.
Subdivision
K09 - Florence
Standard status
Active
APN
061.00-23-600.28
Size
950 SF
Lot size
0.01 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2002
Floors in Building
1
Flooring type
Tile, Carpet
Building materials
Brick
Roof type
Metal
Listing Agency:
eXp Realty, LLC
(859) 795-7995
Listed By:
Caldwell Group
(859) 780-5511
Added: Jan 29
Changed: Jul 31
Last Checked: Aug 21 at 12:06PM
MLS# 641898
Copyright © 2026 Northern Kentucky MLS, 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.
Professional office condominium now available for sale or lease, featuring a functional second-floor layout with a welcoming reception area and multiple private offices. The suite includes three private offices plus one larger office that can also serve as a conference room or shared workspace. A kitchenette and one private ADA-compliant restroom are included.
The building is constructed of brick and has a metal roof. The unit is served by public water and public sewer, with central heating and central air. On-site parking is provided via a parking lot.
Set near major retail and service amenities, the location offers convenient access for both employees and clients, including nearby options such as Walmart, Meijer, Kohl’s, dining, banking, and St. Elizabeth Medical Center.
The building is constructed of brick and has a metal roof. The unit is served by public water and public sewer, with central heating and central air. On-site parking is provided via a parking lot.
Set near major retail and service amenities, the location offers convenient access for both employees and clients, including nearby options such as Walmart, Meijer, Kohl’s, dining, banking, and St. Elizabeth Medical Center.
Key Highlights
- Second‑floor office suite with reception area and multiple private offices
- Includes kitchenette and one private ADA‑compliant restroom
- Three private offices plus a larger office for conference or shared workspace
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
$12,004
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
8.97%
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%
$240,080
$240.1K
Cap Rate 7%
$171,486
$171.5K
Cap Rate 9%
$133,378
$133.4K
Market Conditions
NOI Build-Up for 950 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
$20.5K $21.60/SF
− Vacancy
−$4.5K −$4.75/SF
EGI
$16.0K $16.85/SF
− OpEx
−$4.0K −$4.21/SF
NOI
$12.0K $12.64/SF
Area
Boone County, KY
Vacancy
22.00%
Lease Rate
$21.60 /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%
$240,080
Cap Rate 7%
$171,486
Cap Rate 9%
$133,378
Alternative Uses
Best Use
Office B
$171.5K
$150.1K – $200.1K
NOI $12,004 @ 7.0% cap · market cap 8.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$261.9K
$229.1K – $305.5K
NOI $18,331 @ 7.0% cap · market cap 13.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,149
Businesses Nearby
Explore this area
Business Placement
Demographics for 41042, KY
54,183
Population
23,640
Households
2.3
Avg Household Size
38
Median Age
28%
College-Educated
92%
High-School Grad
22.1 sq mi
ZIP Area
2,452
Density / Sq Mi
$75,582
Median Household Income
$43,501
Median Earnings
$1,240
Median Rent
$210,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Second-floor office suite with reception, multiple private offices, kitchenette, central HVAC, and one ADA-compliant restroom.
Where is this office units located?
The property is located at 6900 Houston Road Florence, KY.
What is the asking price?
The asking price for this property is $133,800.
What are key features of this property?
This property features: Second‑floor office suite with reception area and multiple private offices; Includes kitchenette and one private ADA‑compliant restroom; Three private offices plus a larger office for conference or shared workspace
