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Office

8790 Governors Hill Dr

8790 Governors Hill Dr, Cincinnati, OH 45249

Listing Price: $3,875,000

Cap Rate
0.14%
Gross SF
59,616
Rentable SF
59,616
Price/Gross SF
$65.00
Lot Size
5.00 acres
Year Built
1985

Investment Overview

Marcus & Millichap is pleased to present to market 8790 Governors Hill Drive in Cincinnati, Ohio, a 59,616 square foot, three-story, value-add Class “B” multi-tenant office building. 8790 Governors Hill is situated directly along Interstate 71 in the Mason-Montgomery office submarket of Cincinnati, OH and currently sits at 38% occupied in a submarket that is has a vacancy rate around 15%. The Subject Property is positioned in the Governors Hill Office Park with immediate access to and visibility along Interstate 71, making it uniquely positioned to capture Tenant demand in a location that has redevelopment starting in the immediate area and strong leasing activity as Tenants continue to migrate to suburban office locations. Market: 8790 Governors Hill Drive is located in the northeast quadrant of the Cincinnati Metropolitan Statistical Area in the Mason-Montgomery submarket which is just northeast of Interstate 275 which surrounds the City. Cincinnati is one of the 30 top MSAs in the United States with a population over 2.2 million people, and the Mason-Montgomery office submarket houses about 7.5 million square feet of office space with growing rental rates and strong leasing activity due to many office users looking for smaller suburban locations. Location: 8790 Governors Hill Drive is very well located in the Governors Hill Office Park along Interstate 71 on the southeast corner just off the Fields Ertel Road interchange, which houses tons of retail and restaurant options as well as hotels, multi-family, and singe-family neighborhoods all around the Subject Property. Within this office park, 8790 Governors Hill is perfectly situated along Interstate 71 with excellent visibility which gives this Property an excellent competitive advantage in the lease-up potential for the value-add investor. Property Features: 8790 Governors Hill Drive is a very rare value-add office property in that it has ample parking, tremendous visibility along a major highway, and easy access to numerous major commercial and residential corridors such as Fields Ertel Road, Mason Road, and Montgomery Road in addition to Interstate 71. The layout of the building allows flexibility to subdivide the current vacancies into smaller spaces between 2,000 – 5,000 square feet, which has a lot of demand in the suburban office markets.

Investment Highlights

  • Rare 59,616 Square Foot, Value-Add Office Building Located in Cincinnati, OH
  • Well Below Replacement Costs at Only $65 per Square Foot
  • Excellent Access and Visibility Along Interstate 71 on the Northeast Side of Cincinnati
  • Flexible Floor Plans and Current Vacancies that Can Attract Wide Array of Prospective Tenants

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (614) 360-9800

    License(s) OH: BRK.2007005898

    Ohio

Office

8790 Governors Hill Dr

Listing Price: $3,875,000

Cap Rate
0.14%
Gross SF
59,616
Rentable SF
59,616
Price/Gross SF
$65.00
Lot Size
5.00 acres
Year Built
1985

Investment Highlights

  • Rare 59,616 Square Foot, Value-Add Office Building Located in Cincinnati, OH
  • Well Below Replacement Costs at Only $65 per Square Foot
  • Excellent Access and Visibility Along Interstate 71 on the Northeast Side of Cincinnati
  • Flexible Floor Plans and Current Vacancies that Can Attract Wide Array of Prospective Tenants

Investment Overview

Marcus & Millichap is pleased to present to market 8790 Governors Hill Drive in Cincinnati, Ohio, a 59,616 square foot, three-story, value-add Class “B” multi-tenant office building. 8790 Governors Hill is situated directly along Interstate 71 in the Mason-Montgomery office submarket of Cincinnati, OH and currently sits at 38% occupied in a submarket that is has a vacancy rate around 15%. The Subject Property is positioned in the Governors Hill Office Park with immediate access to and visibility along Interstate 71, making it uniquely positioned to capture Tenant demand in a location that has redevelopment starting in the immediate area and strong leasing activity as Tenants continue to migrate to suburban office locations. Market: 8790 Governors Hill Drive is located in the northeast quadrant of the Cincinnati Metropolitan Statistical Area in the Mason-Montgomery submarket which is just northeast of Interstate 275 which surrounds the City. Cincinnati is one of the 30 top MSAs in the United States with a population over 2.2 million people, and the Mason-Montgomery office submarket houses about 7.5 million square feet of office space with growing rental rates and strong leasing activity due to many office users looking for smaller suburban locations. Location: 8790 Governors Hill Drive is very well located in the Governors Hill Office Park along Interstate 71 on the southeast corner just off the Fields Ertel Road interchange, which houses tons of retail and restaurant options as well as hotels, multi-family, and singe-family neighborhoods all around the Subject Property. Within this office park, 8790 Governors Hill is perfectly situated along Interstate 71 with excellent visibility which gives this Property an excellent competitive advantage in the lease-up potential for the value-add investor. Property Features: 8790 Governors Hill Drive is a very rare value-add office property in that it has ample parking, tremendous visibility along a major highway, and easy access to numerous major commercial and residential corridors such as Fields Ertel Road, Mason Road, and Montgomery Road in addition to Interstate 71. The layout of the building allows flexibility to subdivide the current vacancies into smaller spaces between 2,000 – 5,000 square feet, which has a lot of demand in the suburban office markets.

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (614) 360-9800

    License(s): OH: BRK.2007005898

    Ohio

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