Office Building with Conference
For Sale
Contact for pricing
7847 Tanners Gate Lane, Florence, KY 41042
Office building featuring two conference rooms, kitchenettes on each floor, and parking for 48.
Property Size8,400 SF
Price / SF$142.86
Days on Market63
Property Features for 7847 Tanners Gate Lane
General Information
Standard status
Active
Size
8,400 SF
Class
B
Total Parking Spaces
48
Property subtype
Office
Lease Type
NNN
Investment Type
Owner/User
Building Details
Tenancy
Single
Listing Agency:
KW Commercial
(859) 620-5830
Listed By:
Derrick Plunkett · License #KY 219608
Source:
Crexi
Added: Jun 11
Changed: Aug 8
Last Checked: Jun 20 at 7:04AM
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 KW Commercial
Investment Insights
Based on property information with market context.
This office building includes an elevator and dedicated space for meetings and collaboration, with two conference rooms. Kitchenettes are provided on each floor for convenient day-to-day use. The exterior features slate shingles and copper gutters, while the interior is described as having an “amazing” finish, supporting a professional tenant experience. Parking is available for up to 48 cars.
The property is located in the Northern Kentucky market in Florence, KY, with access to key transportation routes and local amenities described in the offering materials. The surrounding area is characterized as a dynamic business environment. The remarks also cite proximity to Boone County Arboretum and the World of Golf, which may appeal to office tenants seeking nearby attractions and convenience.
For investors and operators, the building’s office-friendly setup—elevator service, multiple conference options, and kitchenettes on each level—can support a range of professional tenants. On-site parking for 48 vehicles helps accommodate staff and visitors, and the combination of building visibility and connectivity is positioned as a factor in tenant appeal. The property is presented for sale as an office or office building investment opportunity in Northern Kentucky.
The property is located in the Northern Kentucky market in Florence, KY, with access to key transportation routes and local amenities described in the offering materials. The surrounding area is characterized as a dynamic business environment. The remarks also cite proximity to Boone County Arboretum and the World of Golf, which may appeal to office tenants seeking nearby attractions and convenience.
For investors and operators, the building’s office-friendly setup—elevator service, multiple conference options, and kitchenettes on each level—can support a range of professional tenants. On-site parking for 48 vehicles helps accommodate staff and visitors, and the combination of building visibility and connectivity is positioned as a factor in tenant appeal. The property is presented for sale as an office or office building investment opportunity in Northern Kentucky.
Key Highlights
- Office building with two conference rooms
- Kitchenette on each floor
- Parking for 48 cars
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
$106,142
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
8.85%
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%
$2,122,840
$2.1M
Cap Rate 7%
$1,516,314
$1.5M
Cap Rate 9%
$1,179,356
$1.2M
Market Conditions
NOI Build-Up for 8,400 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
$181.4K $21.60/SF
− Vacancy
−$39.9K −$4.75/SF
EGI
$141.5K $16.85/SF
− OpEx
−$35.4K −$4.21/SF
NOI
$106.1K $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%
$2,122,840
Cap Rate 7%
$1,516,314
Cap Rate 9%
$1,179,356
Alternative Uses
Best Use
Office B
$1.52M
$1.33M – $1.77M
NOI $106,142 @ 7.0% cap · market cap 8.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.32M
$2.03M – $2.70M
NOI $162,086 @ 7.0% cap · market cap 13.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,026
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
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Frequently Asked Questions
What type of property is this?
Office building - Office building featuring two conference rooms, kitchenettes on each floor, and parking for 48.
Where is this office building located?
The property is located at 7847 Tanners Gate Lane Florence, KY.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Office building with two conference rooms; Kitchenette on each floor; Parking for 48 cars
