Building Details

Year built 2001

Flooring type Carpet

Building materials Brick

Roof type Shingle

Listing Agency: Huff Realty c***@huff.com Show Phone

Listed By: Sandra Burkhart-Williams Show Phone

Added: Dec 29, 2025 Changed: Aug 19 Last Checked: Aug 21 at 4:06PM

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MLS# 1864353

Copyright © 2026 MLS of Greater Cincinnati, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This move-in-ready updated condo office offers a turnkey layout totaling 2,398 sq. ft., designed for professional day-to-day operations. The space includes four private offices, a dedicated conference room, and two expansive common areas suited for cubicles or collaborative work. Custom finishes are built into key areas, including a built-in executive office desk and shelving and integrated cabinetry in the common workroom.

The suite includes a kitchen, two private bathrooms, and a shared professional foyer, along with three exterior entrances for convenient access. Ample parking is included, and there are opportunities for prominent signage on the common monument sign.

Located on Governors Way in the Mason/Deerfield area, the property is described as approximately one mile from I-71 and is available as early as 5/1/2026. The listing is also marked for lease, in addition to being offered for sale.

Key Highlights

• Move‑in ready, updated 2,398 sq. ft. condo office space.
• Prime location in Mason/Deerfield, one mile from I‑71.
• Turnkey layout with 4 private offices, conference room, and 2 common areas.**

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

$22,570

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

4.30%

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%

$451,400 $451.4K

Cap Rate 7%

$322,429 $322.4K

Cap Rate 9%

$250,778 $250.8K

Market Conditions

NOI Build-Up for 2,398 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

$40.3K $16.80/SF

− Vacancy

−$10.2K −$4.25/SF

EGI

$30.1K $12.55/SF

− OpEx

−$7.5K −$3.14/SF

NOI

$22.6K $9.41/SF

Area

Clermont County, OH

Vacancy

25.30%

Lease Rate

$16.80 /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%

$451,400

Cap Rate 7%

$322,429

Cap Rate 9%

$250,778

Alternative Uses

Best Use

Office B

$322.4K

$282.1K – $376.2K (±1% cap)

NOI $22,570 @ 7.0% cap · market cap 4.30%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$429.9K

$376.2K – $501.6K (±1% cap)

NOI $30,094 @ 7.0% cap · market cap 5.73%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Office buildings

Suggested Use

Top Pick Building Supply Real Estate Agency Electrical Service (Bike/Boat/Book/etc) Store Barber Shop Auto Repair Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

4

Office units

Turnkey business

Opportunity

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

421

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 Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this office buildings located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Office building - Move-in-ready condo office with four private offices, conference room, common areas, kitchen, and two private bathrooms.

Where is this office building located?

The property is located at 9155 Governors Way Symmes Twp, OH.

What is the asking price?

The asking price for this property is $525,000.

What are key features of this property?

This property features: Move‑in ready, updated 2,398 sq. ft. condo office space.; Prime location in Mason/Deerfield, one mile from I‑71.; Turnkey layout with 4 private offices, conference room, and 2 common areas.**