1485 Commerce Park Dr, Tipp City, OH 45371

Building Details

Year Built 1987 More

Buildings 1 More

Building Size 4,856 SF More

Listing Agency: Glasshouse Commercial Realty

Listed By: Scott Strayer · License #2013002383 Show Phone

Source: Crexi

Added: Sep 21 Changed: Oct 26 Last Checked: Nov 8 at 6:24AM

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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 Glasshouse Commercial Realty

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Investment Insights

Based on property information with market context.

This medical office property contains 4,856 square feet arranged across 15 private offices. The building was constructed in 1987 and is classified as Class C. A large parking lot serves the property, which occupies 0.82 acres.

Located at 1485 Commerce Park Dr in Tipp City, Ohio, the site is zoned Light Industrial.

Key Highlights

• 4,856‑square‑foot medical office building
• 15 private offices
• Built in 1987; Class C office building

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$57,264

Cap Rate

8.88%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,145,280 $1.1M

Cap Rate 7%

$818,057 $818.1K

Cap Rate 9%

$636,267 $636.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,856 SF

Gross rent

$106.6K $21.96/SF

− Vacancy

−$11.2K −$2.31/SF

EGI

$95.4K $19.65/SF

− OpEx

−$38.2K −$7.86/SF

NOI

$57.3K $11.79/SF

Area

Miami County, OH

Vacancy

10.50%

Lease Rate

$21.96 /SF/Yr

Expense Ratio

40.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,145,280

Cap Rate 7%

$818,057

Cap Rate 9%

$636,267

Alternative Uses

Best Use

Healthcare Medical

$818.1K

$715.8K – $954.4K (±1% cap)

NOI $57,264 @ 7.0% cap · market cap 8.88%

Second Best

Office B

$782.0K

$684.2K – $912.3K (±1% cap)

NOI $54,739 @ 7.0% cap · market cap 8.49%

Theoretical Best

Office A

$989.7K

$866.0K – $1.15M (±1% cap)

NOI $69,278 @ 7.0% cap · market cap 10.74%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Medical Office Space

Suggested Use

Top Pick Real Estate Agency Dental Office Law Firm Building Supply Restaurant Hair Salon

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

185

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 45371, OH

23,205

Population

9,301

Households

2.5

Avg Household Size

41

Median Age

33%

College-Educated

94%

High-School Grad

51.2 sq mi

ZIP Area

453

Density / Sq Mi

$89,425

Median Household Income

$53,051

Median Earnings

$1,154

Median Rent

$272,100

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

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Similar Off Market Nearby

• Tippecanoe Veterinary Hospital — 5100 S Co Rd 25A, Tipp City, OH 45371
• Dr. Jeff Hendricks — 5100 S Co Rd 25A, Tipp City, OH 45371
• Dr. Susan Dextradeur — 4900 S Co Rd 25A, Tipp City, OH 45371
• Tipp City Veterinary Hospital — 4900 S Co Rd 25A, Tipp City, OH 45371
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Frequently Asked Questions

What type of property is this?

Medical Office Space - A 15-office layout and ample on-site parking support a range of medical office operations.

Where is this medical office space located?

The property is located at 1485 Commerce Park Dr Tipp City, OH.

What is the asking price?

The asking price for this property is $645,000.

What are key features of this property?

This property features: 4,856‑square‑foot medical office building; 15 private offices; Built in 1987; Class C office building