Building Details

Building Size 24,000 SF

Listing Agency: Colliers | Dayton t***@colliers.com Show Phone

Listed By: Todd Cochran · License #2012001359 Show Phone

Source: Moodyscre

Added: Oct 19, 2023 Changed: Jul 29 Last Checked: Aug 8 at 1:07PM

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Investment Insights

Based on property information with market context.

This warehouse facility offers 24,000 SF of space on 3.4 acres, with 24’ clear height and a 6” concrete floor. The building includes 800 amp, 3-phase electric, two overhead doors (10’W x 12’H), and two dock doors to support loading and receiving operations. An office component is available as a build-to-suit arrangement, and the space may be potentially divisible.

ForSale at 1000 Tower Dr in Fort Loramie, OH 45845, this property is positioned to accommodate both warehouse use and customizable office needs depending on the final layout.

Key Highlights

• 24,000 SF warehouse on 3.4 acres
• 24’ clear height for storage and warehouse operations
• 800 amp, 3‑phase electric service

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

$229,824

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

9.19%

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%

$4,596,480 $4.6M

Cap Rate 7%

$3,283,200 $3.3M

Cap Rate 9%

$2,553,600 $2.6M

Market Conditions

NOI Build-Up for 24,000 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

$383.0K $15.96/SF

− Vacancy

−$76.6K −$3.19/SF

EGI

$306.4K $12.77/SF

− OpEx

−$76.6K −$3.19/SF

NOI

$229.8K $9.58/SF

Area

Shelby County, OH

Vacancy

20.00%

Lease Rate

$15.96 /SF/Yr

Expense Ratio

25.00%

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%

$4,596,480

Cap Rate 7%

$3,283,200

Cap Rate 9%

$2,553,600

Alternative Uses

Best Use

Office B

$3.28M

$2.87M – $3.83M (±1% cap)

NOI $229,824 @ 7.0% cap · market cap 9.19%

Second Best

Warehouse

$1.71M

$1.50M – $2.00M (±1% cap)

NOI $119,754 @ 7.0% cap · market cap 4.79%

Theoretical Best

Specialty Retail

$6.69M

$5.86M – $7.81M (±1% cap)

NOI $468,601 @ 7.0% cap · market cap 18.74%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Office Units

Suggested Use

Top Pick Restaurant Law Firm Spa & Massage Center Building Supply Nail Salon 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.

Lease Details

24 ft

Clear height

2

Dock-high doors

Location Intelligence

Trade Area within ½ mile

53

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 45845, OH

3,270

Population

1,213

Households

2.7

Avg Household Size

38

Median Age

31%

College-Educated

98%

High-School Grad

32.7 sq mi

ZIP Area

100

Density / Sq Mi

$91,667

Median Household Income

$53,098

Median Earnings

$787

Median Rent

$280,200

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Questions? Ask Rey

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

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Frequently Asked Questions

What type of property is this?

Warehouse - A 24,000 SF warehouse on 3.4 acres featuring 24’ clear height, two dock doors, and an office build-to-suit option.

Where is this warehouse located?

The property is located at 1000 Tower Dr Fort Loramie, OH.

What is the asking price?

The asking price for this property is $2,500,000.

What are key features of this property?

This property features: 24,000 SF warehouse on 3.4 acres; 24’ clear height for storage and warehouse operations; 800 amp, 3‑phase electric service