Medical Office Building with NNN
7642 Reading Road, Cincinnati, OH 45237
For Sale
New
Contact for pricing
ChenMed occupies the clinic under an absolute NNN lease with approximately 18 years remaining in its primary term.
Property Size9,285 SF
Lot Size1.09 Acres
Price / SF$373.72
Days on Market5
Property Features for 7642 Reading Road
General Information
Standard status
Size
Lot size
Property subtype
Occupancy
Site & Location
Neighborhood
Highway Access
Road Access
Tenancy & Operations
Currently Operating
Tenant in Place
Additional Details
Office Units
Property Use
Building Details
Year Built
Year Renovated
Buildings
Building Size
Tenancy
Listing Agency:
JLL Austin
Listed By:
Kirby Hayes · License TX #755222
(512) 225-2700
Source:
Crexi
Added: Nov 6
Changed: Nov 10
Last Checked: Nov 10 at 2:11PM
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 JLL Austin
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Investment Insights
Based on property information with market context.
The 9,285-square-foot medical office building sits on a 1.09-acre parcel and is occupied by ChenMed, which operates a senior primary care clinic at the property. Built in 1949 and renovated in 2020, the facility is leased on an absolute NNN basis. Approximately 18 years remain in the primary lease term, with annual rent increases of 2.50%.
The property is on Reading Road in Cincinnati’s Roselawn neighborhood, with exposure to approximately 16,200 vehicles per day. Ronald Reagan Cross County Highway and I-75 provide nearby regional access. Within five miles, the area has a population of 253,974 and 112,009 households.
The property is on Reading Road in Cincinnati’s Roselawn neighborhood, with exposure to approximately 16,200 vehicles per day. Ronald Reagan Cross County Highway and I-75 provide nearby regional access. Within five miles, the area has a population of 253,974 and 112,009 households.
Key Highlights
- 9,285‑square‑foot medical office building on a 1.09‑acre parcel
- Occupied by ChenMed and operated as a senior primary care clinic
- Absolute NNN lease with approximately 18 years remaining in the primary term
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$110,817
Cap Rate
3.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,216,340
$2.2M
Cap Rate 7%
$1,583,100
$1.6M
Cap Rate 9%
$1,231,300
$1.2M
Market Conditions
NOI Build-Up for 9,285 SF
Gross rent
$191.6K $20.64/SF
− Vacancy
−$43.9K −$4.73/SF
EGI
$147.8K $15.91/SF
− OpEx
−$36.9K −$3.98/SF
NOI
$110.8K $11.94/SF
Area
Cincinnati, OH
Vacancy
22.90%
Lease Rate
$20.64 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,216,340
Cap Rate 7%
$1,583,100
Cap Rate 9%
$1,231,300
Alternative Uses
Best Use
Office B
$1.58M
$1.39M – $1.85M
NOI $110,817 @ 7.0% cap · market cap 3.19%
Second Best
Healthcare Medical
$1.54M
$1.35M – $1.79M
NOI $107,632 @ 7.0% cap · market cap 3.10%
Theoretical Best
Office A
$1.85M
$1.62M – $2.15M
NOI $129,201 @ 7.0% cap · market cap 3.72%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Office units
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
790
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 45237, OH
21,029
Population
10,976
Households
1.9
Avg Household Size
41
Median Age
29%
College-Educated
88%
High-School Grad
6.1 sq mi
ZIP Area
3,447
Density / Sq Mi
$43,598
Median Household Income
$34,276
Median Earnings
$863
Median Rent
$158,700
Median Home Value
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Market
Properties on Market for Medical Office Space in Cincinnati
Vacancy Rate% for Office in Cincinnati, OH
Similar Off Market Nearby
- k9 Waves — 7637 Production Dr, Cincinnati, OH 45237
Frequently Asked Questions
What type of property is this?
Medical Office Space - ChenMed occupies the clinic under an absolute NNN lease with approximately 18 years remaining in its primary term.
Where is this medical office space located?
The property is located at 7642 Reading Road Cincinnati, OH.
What is the asking price?
The asking price for this property is $3,470,000.
What are key features of this property?
This property features: 9,285‑square‑foot medical office building on a 1.09‑acre parcel; Occupied by ChenMed and operated as a senior primary care clinic; Absolute NNN lease with approximately 18 years remaining in the primary term
