CBD-Zoned Office
For Sale
Contact for pricing
916 Monmouth St, Newport, KY 41071
CBD-zoned office property with on-site parking and flexible commercial space.
Property Size8,400 SF
Price / SF$226.07
Days on Market110
Property Features for 916 Monmouth St
General Information
Standard status
Active
Size
8,400 SF
Total Parking Spaces
25
Property subtype
OFFICE
Zoning
CBD
Listing Agency:
KW Northern Kentucky Commercial
(859) 652-4662
Listed By:
TJ Schutte Jr · License #304174,KENTUCKY
(859) 468-6799
Source:
Moodyscre
Added: May 29
Changed: Sep 6
Last Checked: Sep 15 at 9:42AM
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 Northern Kentucky Commercial
Investment Insights
Based on property information with market context.
This office building offers 8,400 SF of space in a versatile commercial configuration. The property includes a 25-space parking lot and is zoned CBD, supporting office and other commercial leasing applications within the designated district. The public remarks also identify 7,400 SF of space available for lease, while the 8,400 SF building is offered for sale.
Located at 916 Monmouth St in Newport, Kentucky, the property places an office asset on a city street with dedicated on-site parking. Its combination of building area, parking, and CBD zoning provides a straightforward commercial property profile for an owner-user, investor, or leasing strategy.
Located at 916 Monmouth St in Newport, Kentucky, the property places an office asset on a city street with dedicated on-site parking. Its combination of building area, parking, and CBD zoning provides a straightforward commercial property profile for an owner-user, investor, or leasing strategy.
Key Highlights
- 8,400 SF office building offered for sale
- 7,400 SF of versatile space identified for lease
- CBD zoning supports commercial leasing applications
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
$108,864
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
5.73%
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%
$2,177,280
$2.2M
Cap Rate 7%
$1,555,200
$1.6M
Cap Rate 9%
$1,209,600
$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
−$36.3K −$4.32/SF
EGI
$145.2K $17.28/SF
− OpEx
−$36.3K −$4.32/SF
NOI
$108.9K $12.96/SF
Area
Campbell County, KY
Vacancy
20.00%
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%
$2,177,280
Cap Rate 7%
$1,555,200
Cap Rate 9%
$1,209,600
Alternative Uses
Best Use
Office B
$1.56M
$1.36M – $1.81M
NOI $108,864 @ 7.0% cap · market cap 5.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.30M
$2.02M – $2.69M
NOI $161,280 @ 7.0% cap · market cap 8.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,148
Businesses Nearby
Explore this area
Business Placement
Demographics for 41071, KY
19,796
Population
10,883
Households
1.8
Avg Household Size
37
Median Age
38%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
3,599
Density / Sq Mi
$58,329
Median Household Income
$44,836
Median Earnings
$1,047
Median Rent
$186,000
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - CBD-zoned office property with on-site parking and flexible commercial space.
Where is this office building located?
The property is located at 916 Monmouth St Newport, KY.
What is the asking price?
The asking price for this property is $1,899,000.
What are key features of this property?
This property features: 8,400 SF office building offered for sale; 7,400 SF of versatile space identified for lease; CBD zoning supports commercial leasing applications
