Versatile Industrial Building in Tipp
For Sale
$1,798,200
15 Industry Park Court, Tipp City, OH 45371
11,100 SF industrial building with convenient highway access.
Property Size11,100 SF
Price / SF$162
Days on Market151
Property Features for 15 Industry Park Court
General Information
Standard status
Active
Size
11,100 SF
Property subtype
Industrial
Listing Agency:
CBRE | Cincinnati
(513) 369-1354
Listed By:
Tim Schenke
(513) 369-1354
Source:
Cbre
Added: Mar 25
Changed: Aug 15
Last Checked: Aug 22 at 6:14AM
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 CBRE | Cincinnati
Investment Insights
Based on property information with market context.
This 11,100 square foot industrial building is located in Tipp City, Ohio. Constructed in 1994 and renovated in 2021, the property features a metal standing seam roof and a poured concrete slab floor. The building offers a clear height of 14 to 15 feet. The structure is metal construction and zoned LI, Light Industrial District. There are 17 auto parking stalls available. The building includes office space on the first and second floor mezzanine area. The property is equipped with 7 drive-in doors, each measuring 14 feet by 14 feet. The bay depth is 60 feet and the building has clear span column spacing. LED lighting is installed throughout the building. The property is located approximately two miles from I-75, providing access to Toledo, Detroit, Cincinnati, I-70 to Indianapolis and Columbus and is in close proximity to Dayton International Airport. The location benefits from an excellent labor pool and a business-friendly municipality.
Key Highlights
- Excellent access to I‑75 and Dayton International Airport
- Features 7 large drive‑in doors (14’ x 14’)
- Clear span construction with 14’-15’ clear height
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
$148,522
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
8.26%
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%
$2,970,440
$3.0M
Cap Rate 7%
$2,121,743
$2.1M
Cap Rate 9%
$1,650,244
$1.7M
Market Conditions
NOI Build-Up for 11,100 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
$186.5K $16.80/SF
− Vacancy
−$11.7K −$1.06/SF
EGI
$174.7K $15.74/SF
− OpEx
−$26.2K −$2.36/SF
NOI
$148.5K $13.38/SF
Area
Miami County, OH
Vacancy
6.30%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
15.00%
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%
$2,970,440
Cap Rate 7%
$2,121,743
Cap Rate 9%
$1,650,244
Alternative Uses
Best Use
Warehouse
$2.12M
$1.86M – $2.48M
NOI $148,522 @ 7.0% cap · market cap 8.26%
Second Best
Industrial
$1.75M
$1.53M – $2.04M
NOI $122,312 @ 7.0% cap · market cap 6.80%
Theoretical Best
Office A
$2.26M
$1.98M – $2.64M
NOI $158,359 @ 7.0% cap · market cap 8.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
44
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 Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Gateway Climate Storage- Tipp City — 835 N Hyatt St, Tipp City, OH 45371
- Storage Rentals of America — 895 N 3rd St, Tipp City, OH 45371
- CubeSmart Self Storage — 895 N 3rd St, Tipp City, OH 45371
Frequently Asked Questions
What type of property is this?
Warehouse - 11,100 SF industrial building with convenient highway access.
Where is this warehouse located?
The property is located at 15 Industry Park Court Tipp City, OH.
What is the asking price?
The asking price for this property is $1,798,200.
What are key features of this property?
This property features: Excellent access to I‑75 and Dayton International Airport; Features 7 large drive‑in doors (14’ x 14’); Clear span construction with 14’-15’ clear height
