Listing Agency: RE/MAX Alliance Realty | Dayton (Dixie) Show Phone

Listed By: Mike Temple · License #0000347520 Show Phone

Source: Moodyscre

Added: Oct 5, 2024 Changed: Sep 14 Last Checked: Sep 19 at 1:14PM

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Investment Insights

Based on property information with market context.

This property, situated on approximately 0.75 acres, features a freshly remodeled 1,626-square-foot building currently configured for auto sales. The layout includes a 20-foot by 25-foot front-end office area and a 10-foot by 10-foot break room equipped with a kitchenette. The remaining space is dedicated to shop and service functions. Renovations completed in 2022 included a new roof, new exterior siding, updated lighting, a complete electrical overhaul (service, panel, and wiring), and some updated plumbing. An attached 16-foot by 16-foot storage building provides additional space. The property is equipped with two half baths, two forced-air heating systems, and an AC wall unit. Ample parking is available. The property is located in a high-traffic area, offering maximum exposure. The annual property taxes are $1642.01.

Key Highlights

• High traffic count location ideal for business exposure.
• Recently renovated building (2022) with new roof, siding, and electrical. Some plumbing updates.
• Approximately 3/4 acre lot suitable for various uses.

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$8,565

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

5.04%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$171,300 $171.3K

Cap Rate 7%

$122,357 $122.4K

Cap Rate 9%

$95,167 $95.2K

Market Conditions

NOI Build-Up for 1,626 SF Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent. EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs. OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements. NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.

Gross rent

$13.1K $8.04/SF

− Vacancy

−$837 −$0.51/SF

EGI

$12.2K $7.53/SF

− OpEx

−$3.7K −$2.26/SF

NOI

$8.6K $5.27/SF

Area

Montgomery County, OH

Vacancy

6.40%

Lease Rate

$8.04 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$171,300

Cap Rate 7%

$122,357

Cap Rate 9%

$95,167

Alternative Uses

Best Use

Retail

$270.1K

$236.4K – $315.2K (±1% cap)

NOI $18,910 @ 7.0% cap · market cap 11.13%

Second Best

Industrial

$122.4K

$107.1K – $142.8K (±1% cap)

NOI $8,565 @ 7.0% cap · market cap 5.04%

Theoretical Best

Multifamily LT 5

$15.38M

$13.46M – $17.94M (±1% cap)

NOI $1,076,521 @ 7.0% cap · market cap 633.62%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Auto shops

Suggested Use

Top Pick HVAC Service Building Supply Grocery & Convenience Store Garden Center (Bike/Boat/Book/etc) Store Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

55

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this auto shops located? What is the asking price? Find similar properties What are key features of this property?

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• Waynesville Body Shop — 137 OH-49, Dayton, OH 45459

Frequently Asked Questions

What type of property is this?

Auto shop - High-traffic location, remodeled building, suitable for auto sales.

Where is this auto shop located?

The property is located at 10590 S Dayton Greenville Pike Brookville, OH.

What is the asking price?

The asking price for this property is $169,900.

What are key features of this property?

This property features: High traffic count location ideal for business exposure.; Recently renovated building (2022) with new roof, siding, and electrical. Some plumbing updates.; Approximately 3/4 acre lot suitable for various uses.