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    809 Smt Pkwy Fort Wright, KY 41011

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    For Lease
    Contact for pricing

    Modern Kenton County Creative Office Suites

    Lot size:
    38,144 SF

    Property Features for 809 Smt Pkwy

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    38,144 SF
    Class
    A
    Total Rate
    54037.33

    Building Details

    Year Built
    2008
    Stories
    3

    Spaces For Lease

    at 809 Smt Pkwy, Fort Wright, KY 41011 Contact us
    Unit Suite 120

    $17 /Mo

    Size
    1,967 SF
    Contact us
    Unit Suite 320

    $17 /Mo

    Size
    2,785 SF
    Contact us

    We can help!

    Listing Contact
    Digger Daley
    Digger Daley

    Listing Agency: Cushman & Wakefield Cincinnati Listing Agent: Digger Daley

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Wright's Summit II offers exceptional Class A creative office space in Ft. Wright, Kentucky. This three-story building, constructed in 2008, boasts a total of 38,144 square feet and features impressive 10-foot ceilings, creating a bright and spacious work environment. Currently, two suites are available, ranging in size from 1,967 to 2,785 square feet, perfect for businesses seeking flexible and adaptable layouts. The building is zoned for City of Ft. Wright use and offers ample parking with a generous 4 spaces per 1,000 square feet ratio. The building's modern design and amenities cater to a variety of businesses, making it an ideal location for creative agencies, tech startups, or any company seeking a contemporary and functional workspace. The multiple tenancy structure provides a vibrant and collaborative atmosphere. Located in Kenton County, this property offers easy access to major transportation routes and local amenities. This is a prime opportunity to secure high-quality office space in a desirable location. Interested parties should inquire about available suite specifics and lease terms.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office space

    Map

    City
    Fort Wright
    County
    Kenton
    State
    Kentucky
    Longitude
    -84.5366631
    Latitude
    39.0621731

    Nearby Similar for Lease

    • Contact for pricing
      2,785 SF

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    • $19 SF/Yr
      58,878 SF

      Wright's Summit III Executive Suites

      Prestigious Office Space, Kenton County
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    • $14 SF/Yr
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      Lookout Corporate Center: Fort Wright Office Space

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    FAQs

    What type of property is this?
    Office space - Modern Kenton County Creative Office Suites
    Where is this office space located?
    The property is located at 809 Smt Pkwy Fort Wright, KY.
    What is the lease rate?
    The lease rate is $17 SF/Yr.
    What are key features of this property?
    This property features: Class A Creative Office building totaling 38,144 square feet.; Three-story building constructed in 2008.; Features 10' ceilings.
    (513) 763-3028 Call to check price and availability
    Request Owner's contact information
    809 Smt Pkwy Fort Wright, KY 41011
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    Fort Wright, KY 41011
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    809 Smt Pkwy Fort Wright, KY 41011
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Digger Daley
    Digger Daley
    (513) 763-3028 (513) 421-4884
    Learn more
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