10205 Reading RdCincinnati, OH 45241

For Sale
$5,155,000

High-yield, 13,928 SF office building, 100% occupied.

Overview

Added:
Dec 11, 2024
Days on market:
92
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.

Highlights

  • 4+ years remaining on a lease with the Social Security Administration (SSA), extending to February 28, 2035.
  • Built-in rent increases every two years.
  • 2009 construction, build-to-suit for SSA; LEED Gold certified.
  • S&P rated AA+ investment-grade tenant (SSA).
  • High visibility location on Reading Road (16,772 vehicles/day), 1.5 miles from I-75.
  • Limited competition; nearest SSA facility is 20 minutes away.

Property Details for 10205 Reading Rd

Property type
Other office properties, Office properties
Square Feet
13,928 SF
Class
A
Year Built
2009
Buildings
1
Stories
1
Lot Size (sq. ft)
90,605 SF
Units
1

Location Insight

City
Cincinnati
County
Hamilton
State
Ohio
Latitude
39.2494933
Longitude
-84.4257152
10205 Reading Rd, Cincinnati, Ohio

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10205 Reading Rd
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