Office Condo with Private
For Sale
$230,000
7000 Houston Rd Unit 18, Florence, KY 41042
Office condo features street-level entry, open meeting/showroom area, kitchen, bathroom, and three private offices.
Property Size950 SF
Price / SF$242.11
Days on Market147
Property Features for 7000 Houston Rd Unit 18
General Information
Standard status
Active
Size
950 SF
Building Details
Year Built
2002
Listing Agency:
Sibcy Cline, REALTORS-Florence
Listed By:
Sharon Hilinski
Source:
Finn-team
Added: Apr 12
Changed: Sep 3
Last Checked: Sep 5 at 11:02AM
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 Sibcy Cline, REALTORS-Florence
Investment Insights
Based on property information with market context.
This office condo (Building 300, Unit 28) offers street-level entry with an approximate 20-step ascent to the office entrance. Inside, the layout includes an open meeting/showroom area with a large picture window, along with a kitchen area and bathroom. The space is further supported by three private offices, providing separation for focused work or client meetings.
The property is described as having strong drive-by traffic and high visibility, with convenient access to the expressway and nearby downtown Cincinnati and CVG. Ample parking is also noted.
The office condo is available with immediate possession and is described as needing some freshening up, with readiness to move right in after updates.
The property is described as having strong drive-by traffic and high visibility, with convenient access to the expressway and nearby downtown Cincinnati and CVG. Ample parking is also noted.
The office condo is available with immediate possession and is described as needing some freshening up, with readiness to move right in after updates.
Key Highlights
- Office condo, Building 300, Unit 28, with immediate possession
- Street‑level entry with an approx. 20‑step walk up to the office entry
- Open meeting/showroom area with a large picture window and private view
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
5.22%
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 5.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$261.9K
$229.1K – $305.5K
NOI $18,331 @ 7.0% cap · market cap 7.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,070
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 - Office condo features street-level entry, open meeting/showroom area, kitchen, bathroom, and three private offices.
Where is this office units located?
The property is located at 7000 Houston Rd Unit 18 Florence, KY.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Office condo, Building 300, Unit 28, with immediate possession; Street‑level entry with an approx. 20‑step walk up to the office entry; Open meeting/showroom area with a large picture window and private view
