Versatile Office Condo For
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8241 Cornell Rd, Cincinnati, OH 45249
4,100 SF office condo in Sycamore Township.
Property Size4,100 SF
Price / SF$159.76
Days on Market158
Property Features for 8241 Cornell Rd
General Information
Standard status
Active
Size
4,100 SF
Property subtype
Office
Zoning
OO - Planned Office District
Building Details
Year Built
2006
Buildings
1
Stories
1
Listing Agency:
Wright Property Advisors LLC
(513) 561-2305
Listed By:
Brad Wright · License #OH SAL.2015002464
Source:
Crexi
Added: Mar 17
Changed: Aug 10
Last Checked: Aug 21 at 9:20AM
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 Wright Property Advisors LLC
Investment Insights
Based on property information with market context.
This is a 4,100 SF office condo suitable for general or medical office use. The property is located in Sycamore Township, offering close proximity to I-275 and I-71. Units in this well-maintained development rarely become available.
Key Highlights
- Prime location in Sycamore Township with close proximity to I‑275 and I‑71.
- Versatile 4,100 SF office condo suitable for general or medical office use.
- Benefit from 0% Earnings Tax.
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
$48,934
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
7.47%
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%
$978,680
$978.7K
Cap Rate 7%
$699,057
$699.1K
Cap Rate 9%
$543,711
$543.7K
Market Conditions
NOI Build-Up for 4,100 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
$84.6K $20.64/SF
− Vacancy
−$19.4K −$4.73/SF
EGI
$65.2K $15.91/SF
− OpEx
−$16.3K −$3.98/SF
NOI
$48.9K $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%
$978,680
Cap Rate 7%
$699,057
Cap Rate 9%
$543,711
Alternative Uses
Best Use
Office B
$699.1K
$611.7K – $815.6K
NOI $48,934 @ 7.0% cap · market cap 7.47%
Second Best
Healthcare Medical
$679.0K
$594.1K – $792.1K
NOI $47,527 @ 7.0% cap · market cap 7.26%
Theoretical Best
Office A
$815.0K
$713.2K – $950.9K
NOI $57,052 @ 7.0% cap · market cap 8.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
897
Businesses Nearby
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?
Office units - 4,100 SF office condo in Sycamore Township.
Where is this office units located?
The property is located at 8241 Cornell Rd Cincinnati, OH.
What is the asking price?
The asking price for this property is $655,000.
What are key features of this property?
This property features: Prime location in Sycamore Township with close proximity to I‑275 and I‑71.; Versatile 4,100 SF office condo suitable for general or medical office use.; Benefit from 0% Earnings Tax.
