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3012 Glenmore Ave 25,000 SF 100% Leased Office Building Cincinnati, OH 45238 $2,250,000 ($90/SF) 9.38% Cap Rate



INVESTMENT HIGHLIGHTS
- Property easily accommodates a lot of customer and patient traffic on a daily basis, clean and well maintained, street signage a plus
- Friendly camaraderie among existing tenants
- LL suite currently has some unfinished space that could be updated and leased, about 650 sq ft. used for owner's storage
- Windows in suites open for fresh air
- Nice wood framd glass inset clinic-look doors to suite entries with Schlage keyless entries
- Each suite has a private bathroom, and there are 2 locked bathrooms in hallway for public/patron use
EXECUTIVE SUMMARY
Solid building with solid tenants is a tremendous value add investment opportunity. Large parking lot accommodates 90+ spaces. Professional tenants, many of whom renew leases, fully occupied. Pride of ownership shows, well maintained, owner occupies suite on site, same owner for last 25 years. High traffic count and visibility, easy access, located on metro bus line. Recently updated the front entry and canopy, also updated locking mechanisms on building entry doors. As a plus, owner willing to consider and assemble adjoining properties on both sides for an interested buyer. If buyer allows, owner will remain on site in current suite as a tenant. There are NOT a lot of building/lot combinations like this on the west side. Consider if this this could qualify for your 1031 Exchange.
PROPERTY FACTS
Sale Type
Investment or Owner User
Sale Condition
1031 Exchange
Property Type
Office
Property Subtype
Building Size
25,000 SF
Building Class
B
Year Built/Renovated
1972/2024
Price
$2,250,000
Price Per SF
$90
Cap Rate
9.38%
NOI
$211,050
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
7,333 SF
Slab To Slab
10’
Building FAR
0.46
Lot Size
1.25 AC
Zoning
B-4/R-3T, Cincinnati - Commercial zoning, and use is medical clinics and offices.
Parking
90 Spaces (4.09 Spaces per 1,000 SF Leased)
AMENITIES
- Conferencing Facility
- Property Manager on Site
- Security System
- Signage
- Wheelchair Accessible
- Fiber Optic Internet
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PROPERTY TAXES
| Parcel Number | 208-0060-0030 | Improvements Assessment | $249,480 |
| Land Assessment | $87,507 | Total Assessment | $336,987 |
PROPERTY TAXES
Parcel Number
208-0060-0030
Land Assessment
$87,507
Improvements Assessment
$249,480
Total Assessment
$336,987
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3012 Glenmore Ave
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