10205 Reading RdCincinnati, OH 45241

Property Details for 10205 Reading Rd

Lot size

2.08 AC

Property type

Banks

APN

611-0020-0408-00

APU

6110020040800

Description

This exceptional Class A office building, totaling 13,928 square feet, presents a compelling investment opportunity. Currently 100% occupied by the Social Security Administration (SSA) under a modified lease with a remaining term of approximately four years, the lease commenced February 24, 2023, and extends to February 28, 2035. Built in 2009 as a build-to-suit for SSA and boasting LEED Gold certification, the property features a single-story structure on a 2.08-acre lot in Cincinnati, Ohio (45241). The asking price is $5,155,000, representing a compelling cap rate of 7.15% with a Net Operating Income (NOI) of $368,571. The property benefits from built-in rent bumps every two years, providing consistent income growth. Strategically located on Reading Road, with high daily traffic volume (16,772 vehicles), and within 1.5 miles of I-75, the building enjoys excellent visibility and accessibility. Its prime location is further enhanced by proximity to major retailers (Walmart, Menards, Starbucks, etc.) and significant employers (GE Aerospace, with over 7,500 employees). The strong demographics of the area, with a population exceeding 166,800 within a 5-mile radius and an average household income of $186,000 within 1 mile, contribute to the property's long-term value. The SSA's presence as an S&P rated AA+ investment-grade tenant ensures stability and security. This is a rare opportunity to acquire a high-quality, stabilized asset with a strong tenant and significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $15,016,503

  6.5%

  $13,861,387

  7%

  $12,871,288

• Comparable approach

  Method

  Valuation

  Relative Method

  $28,355,632

  Geo Method

  $28,355,632

• Alternative Use

  Use

  Valuation

  Residential

  $11,692,599

  Hospitality

  $10,710,357

  Educational

  $8,910,892

  Medical

  $9,217,351

  Retail

  $13,861,387

Location Insight

City

Cincinnati

County

Hamilton

State

Ohio

Latitude

39.2495

Longitude

-84.4257

CBSA code

17140

CBSA name

CINCINNATI-MIDDLETOWN, OH-KY-IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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