Liberty Office Park Flex
For Sale
Contact for pricing
Pending
7102-7116 Office Park Drive, West Chester, OH 45069
76,501 SF flex asset near Liberty Center.
Property Size76,501 SF
Days on Market103
Property Features for 7102-7116 Office Park Drive
General Information
Standard status
Pending
Size
76,501 SF
Total Parking Spaces
181
Property subtype
Industrial
Occupancy
100%
Investment Type
Value Add
Building Details
Tenancy
Multi
Listing Agency:
CBRE - Cincinnati
(513) 369-1335
Listed By:
Steven Timmel · License #OH SAL.0000343272
Source:
Crexi
Added: May 19
Changed: Aug 14
Last Checked: Aug 14 at 6:08AM
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 CBRE - Cincinnati
Investment Insights
Based on property information with market context.
Liberty Office Park, located at 7102-7116 Office Park Drive in West Chester, Ohio, is a 76,501 square foot single-story flex asset constructed in 2007. The property is currently 100% occupied. Situated in the Tri-County submarket, it is located less than 0.5 miles from Liberty Center, a mixed-use retail, residential, and office complex covering 1.2 million square feet. The building features tilt-up construction and visibility along State Route 129, with access to I-75 and I-275. Its location between Cincinnati and Dayton positions it to capture demand from both markets. The rent roll has a weighted average tenure of 9.88 years.
Key Highlights
- 100% Occupancy: Provides immediate income and stability.
- Prime Location: Less than 0.5 miles from Liberty Center.
- Strong Tenant History: Weighted average tenant tenure of 9.88 years.
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
$332,749
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
4.13%
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%
$6,654,980
$6.7M
Cap Rate 7%
$4,753,557
$4.8M
Cap Rate 9%
$3,697,211
$3.7M
Market Conditions
NOI Build-Up for 76,501 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
$486.5K $6.36/SF
− Vacancy
−$11.2K −$0.15/SF
EGI
$475.4K $6.21/SF
− OpEx
−$142.6K −$1.86/SF
NOI
$332.7K $4.35/SF
Area
Hamilton County, OH
Vacancy
2.30%
Lease Rate
$6.36 /SF/Yr
Expense Ratio
30.00%
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%
$6,654,980
Cap Rate 7%
$4,753,557
Cap Rate 9%
$3,697,211
Alternative Uses
Best Use
Flex RnD
$11.24M
$9.84M – $13.12M
NOI $787,028 @ 7.0% cap · market cap 9.78%
Second Best
Industrial
$4.75M
$4.16M – $5.55M
NOI $332,749 @ 7.0% cap · market cap 4.13%
Theoretical Best
Office A
$13.72M
$12.00M – $16.00M
NOI $960,057 @ 7.0% cap · market cap 11.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
222
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 45069, OH
53,694
Population
21,727
Households
2.5
Avg Household Size
40
Median Age
53%
College-Educated
95%
High-School Grad
29.0 sq mi
ZIP Area
1,852
Density / Sq Mi
$115,539
Median Household Income
$61,747
Median Earnings
$1,585
Median Rent
$314,300
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - 76,501 SF flex asset near Liberty Center.
Where is this flex space located?
The property is located at 7102-7116 Office Park Drive West Chester, OH.
What is the asking price?
The asking price for this property is $8,050,000.
What are key features of this property?
This property features: 100% Occupancy: Provides immediate income and stability.; Prime Location: Less than 0.5 miles from Liberty Center.; Strong Tenant History: Weighted average tenant tenure of 9.88 years.
