Former Drug Store at Signalized
For Sale
Contact for pricing
1320 E Stroop Rd, Kettering, OH 45429
B-zoned retail building positioned at a signalized intersection in Kettering.
Property Size11,335 SF
Lot Size1.24 Acres
Price / SF$166.74
Days on Market168
Property Features for 1320 E Stroop Rd
General Information
Standard status
Active
Size
11,335 SF
Lot size
1.24 Acres
Property subtype
Retail
Zoning
B
Lease Type
Net
Additional Details
Corner Location
Yes
Building Details
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Encore Real Estate Investment Services
(248) 702-0288
Listed By:
Deno Bistolarides · License #6502378067
Source:
Crexi
Added: Mar 16
Changed: Aug 30
Last Checked: Aug 30 at 6:45AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Encore Real Estate Investment Services
Investment Insights
Based on property information with market context.
This former drug store contains 11,335 square feet within a 1.24-acre commercial property. The building occupies a hard corner with signalized intersection access, providing a clearly defined retail setting for sale or lease.
The property is located at 1320 E Stroop Rd in Kettering, Ohio, 45429. B zoning supports its commercial classification, while the standalone former drug store format offers an established building configuration for continued retail use or future repositioning.
The property is located at 1320 E Stroop Rd in Kettering, Ohio, 45429. B zoning supports its commercial classification, while the standalone former drug store format offers an established building configuration for continued retail use or future repositioning.
Key Highlights
- 11,335‑square‑foot former drug store
- 1.24‑acre commercial property
- Hard‑corner position at a signalized intersection
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
$126,917
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
6.72%
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%
$2,538,340
$2.5M
Cap Rate 7%
$1,813,100
$1.8M
Cap Rate 9%
$1,410,189
$1.4M
Market Conditions
NOI Build-Up for 11,335 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
$176.8K $15.60/SF
− Vacancy
−$7.6K −$0.67/SF
EGI
$169.2K $14.93/SF
− OpEx
−$42.3K −$3.73/SF
NOI
$126.9K $11.20/SF
Area
Greene County, OH
Vacancy
4.30%
Lease Rate
$15.60 /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%
$2,538,340
Cap Rate 7%
$1,813,100
Cap Rate 9%
$1,410,189
Alternative Uses
Best Use
Specialty Retail
$1.81M
$1.59M – $2.12M
NOI $126,917 @ 7.0% cap · market cap 6.72%
Second Best
Retail
$1.53M
$1.34M – $1.78M
NOI $106,944 @ 7.0% cap · market cap 5.66%
Theoretical Best
Office B
$2.13M
$1.86M – $2.49M
NOI $149,190 @ 7.0% cap · market cap 7.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
506
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 45429, OH
26,514
Population
12,806
Households
2.1
Avg Household Size
45
Median Age
48%
College-Educated
97%
High-School Grad
9.9 sq mi
ZIP Area
2,678
Density / Sq Mi
$77,291
Median Household Income
$44,920
Median Earnings
$1,007
Median Rent
$221,200
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Meijer Pharmacy — 4075 Wilmington Pike, Kettering, OH 45440
- CVS Pharmacy — 4075 wilmington pike, kettering, oh 45440
- Rite Aid Pharmacy — 1320 E Stroop Rd, Kettering, OH 45429
- Jamie Shafer — 1320 E Stroop Rd, Kettering, OH 454294926
Frequently Asked Questions
What type of property is this?
Drug store - B-zoned retail building positioned at a signalized intersection in Kettering.
Where is this drug store located?
The property is located at 1320 E Stroop Rd Kettering, OH.
What is the asking price?
The asking price for this property is $1,890,000.
What are key features of this property?
This property features: 11,335‑square‑foot former drug store; 1.24‑acre commercial property; Hard‑corner position at a signalized intersection
