6.87 AC with Vacant Office
650 Northland Blvd : Cincinnati, OH 45240
Hamilton County, Ohio
Land Description
Marketplace Online Auction June 28-30, 2021
60,000 SF Office - Cincinnati, OH (Opportunity Zone)
Investment Highlights
±60,000 SF vacant office building in suburban Cincinnati, Oh
Located in Federal Opportunity Zone | Zoned O, Office | Parking ratio of 6.1/1,000 (367 surface CapEx completed since 2009 replacing roof, boiler, 200-Ton chiller and Hvac units
Ideally positioned within minutes from the I-275 & I-75 cloverleaf interchange with over 230K Vpd
Strong 2021 demographics with population of ±157,516 and average HH Income of (5-mile radius)
Offering Details
CBRE, Inc., in partnership with , has been retained as the exclusive adviser for the disposition of Northland Tower (the “Property”), a highly visible six-story office building minutes from I-275 and I-75 in Cincinnati, Ohio. The Property consists of a ±60,000 SF building situated on 6.87 acres. Each floor is approximately 9,494 SF with a central core and perimeter offices providing flexibility in this post-pandemic environment. Building features include 9' - 10' ceilings, loading dock and 1,600-Amp 277/480-Volt service. Mechanical systems have been well maintained or replaced over time with in capital expenditures completed in recent years including the roof, Hvac w/200-ton chiller and boiler. There are ±367 parking spaces providing a ratio of 6.1 per 1,000 square feet of space, plenty for any high-density use.
Cincinnati, located in southwestern Ohio on the Ohio River, is the third-largest city in the state. The Cincinnati MSA has a population of around 2.2 million people and is home to major corporations such as Procter & Gamble, The Kroger Company, and Macy's, Inc. to name a few. Kroger, the largest employer in the city, has 17,000 employees. The University of Cincinnati is the second largest, with over 16,000 employees.
The Property is strategically situated with frontage and accessibility on Northland Blvd and benefits from traffic counts of ±19,608 vehicles per day. The 5-mile trade area is supported by ±157,516 residents boasting an impressive average household income approaching . The offering presents a unique opportunity to an owner-user or investor seeking the convenience of a suburban office building with ample parking while only minutes from downtown, and accessible to all major transportation arteries.
Auctioneer:
Thomas Seaman
Keller Williams Greater Cleveland
