Medical Office Building with
For Sale
Contact for pricing
Pending
8099 Cornell Rd, Cincinnati, OH 45249
Constructed in 2008, this medical office building is leased under a double-net structure with corporate guarantee.
Property Size26,107 SF
Lot Size2.36 Acres
Days on Market153
Property Features for 8099 Cornell Rd
General Information
Standard status
Pending
Size
26,107 SF
Class
B
Lot size
2.36 Acres
Property subtype
Office
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$750,576
Additional Details
Highway Access
Yes
Building Details
Year Built
2008
Year Renovated
2024
Tenancy
Single
Listing Agency:
Marcus & Millichap - Chicago Downtown
Listed By:
Frank Roti · License #IL 475.139806
(312) 787-0666
Source:
Crexi
Added: Apr 6
Changed: Aug 27
Last Checked: Sep 3 at 11:13AM
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 Marcus & Millichap - Chicago Downtown
Investment Insights
Based on property information with market context.
This medical office building was constructed in 2008 and totals 26,107 square feet on approximately 2.36 acres. The property is currently occupied by Ortho Alliance MSO LLC / Beacon Orthopaedics & Sports Medicine, Ltd under a double-net lease structure. The lease includes 3% annual rental increases and is backed by a corporate guarantee, with approximately five years remaining and two additional five-year renewal options.
Located along Cornell Road in the northeastern portion of the Cincinnati metropolitan area near Blue Ash and Montgomery, the building sits within a well-established commercial and medical corridor. The area is characterized by corporate offices, healthcare providers, and professional services, and is also near retail and dining amenities.
Regional accessibility is supported by immediate access to major transportation routes, including Interstates 71 and 275, with State Route 126 (Ronald Reagan Cross County Highway) nearby for east-west travel across the metropolitan area.
Located along Cornell Road in the northeastern portion of the Cincinnati metropolitan area near Blue Ash and Montgomery, the building sits within a well-established commercial and medical corridor. The area is characterized by corporate offices, healthcare providers, and professional services, and is also near retail and dining amenities.
Regional accessibility is supported by immediate access to major transportation routes, including Interstates 71 and 275, with State Route 126 (Ronald Reagan Cross County Highway) nearby for east-west travel across the metropolitan area.
Key Highlights
- Medical office building constructed in 2008 with 26,107 SF on approximately 2.36 acres
- Currently occupied by Ortho Alliance MSO LLC / Beacon Orthopaedics & Sports Medicine, Ltd
- Double‑net lease structure with a corporate guarantee
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
$311,589
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
3.12%
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%
$6,231,780
$6.2M
Cap Rate 7%
$4,451,271
$4.5M
Cap Rate 9%
$3,462,100
$3.5M
Market Conditions
NOI Build-Up for 26,107 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
$538.8K $20.64/SF
− Vacancy
−$123.4K −$4.73/SF
EGI
$415.5K $15.91/SF
− OpEx
−$103.9K −$3.98/SF
NOI
$311.6K $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 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%
$6,231,780
Cap Rate 7%
$4,451,271
Cap Rate 9%
$3,462,100
Alternative Uses
Best Use
Office B
$4.45M
$3.89M – $5.19M
NOI $311,589 @ 7.0% cap · market cap 3.12%
Second Best
Healthcare Medical
$4.32M
$3.78M – $5.04M
NOI $302,632 @ 7.0% cap · market cap 3.03%
Theoretical Best
Office A
$5.19M
$4.54M – $6.05M
NOI $363,279 @ 7.0% cap · market cap 3.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
789
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 45249, OH
14,005
Population
5,740
Households
2.4
Avg Household Size
40
Median Age
71%
College-Educated
97%
High-School Grad
6.8 sq mi
ZIP Area
2,060
Density / Sq Mi
$107,227
Median Household Income
$68,477
Median Earnings
$1,476
Median Rent
$484,500
Median Home Value
Market
Vacancy Rate% for Office in Cincinnati, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Constructed in 2008, this medical office building is leased under a double-net structure with corporate guarantee.
Where is this medical office space located?
The property is located at 8099 Cornell Rd Cincinnati, OH.
What is the asking price?
The asking price for this property is $10,000,000.
What are key features of this property?
This property features: Medical office building constructed in 2008 with 26,107 SF on approximately 2.36 acres; Currently occupied by Ortho Alliance MSO LLC / Beacon Orthopaedics & Sports Medicine, Ltd; Double‑net lease structure with a corporate guarantee
