Medical Office
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For Sale
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1485 Commerce Park Dr, Tipp City, OH 45371
A 15-office layout and ample on-site parking support a range of medical office operations.
Property Size4,856 SF
Lot Size0.82 Acres
Price / SF$143.12
Days on Market5
Property Features for 1485 Commerce Park Dr
General Information
Standard status
Active
Size
4,856 SF
Class
Class C
Lot size
0.82 Acres
Property subtype
Office
Zoning
Light Industrial
Building Details
Year Built
1987
Buildings
1
Building Size
4,856 SF
Listing Agency:
Glasshouse Commercial Realty
Listed By:
Scott Strayer · License #2013002383
(937) 654-0283
Source:
Crexi
Added: Sep 21
Changed: Sep 24
Last Checked: Sep 24 at 2:18PM
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
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.
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 = 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
$57,264
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
8.24%
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%
$1,145,280
$1.1M
Cap Rate 7%
$818,057
$818.1K
Cap Rate 9%
$636,267
$636.3K
Market Conditions
NOI Build-Up for 4,856 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
$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 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%
$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
NOI $57,264 @ 7.0% cap · market cap 8.24%
Second Best
Office B
$782.0K
$684.2K – $912.3K
NOI $54,739 @ 7.0% cap · market cap 7.88%
Theoretical Best
Office A
$989.7K
$866.0K – $1.15M
NOI $69,278 @ 7.0% cap · market cap 9.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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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
- Mathias Nick J DVM — 4900 S. County Rd #25A, Tipp City, OH 45371
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 $695,000.
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
