Mixed-Use Property with
New
For Sale
$1,295,000
2375 Upper Valley Pike, Springfield, OH 45502
Large commercial tract with multiple zoning districts, existing improvements, and development-ready utility access.
Property Size3,008 SF
Price / SF$430.52
Days on Market2
Property Features for 2375 Upper Valley Pike
General Information
Standard status
Active
Size
3,008 SF
Building Details
Year Built
1900
Listing Agency:
Coldwell Banker Heritage
Listed By:
Arthur A Solomon
(937) 429-4500
Source:
Thelorilynngroup
Added: Sep 15
Changed: Sep 16
Last Checked: Sep 16 at 1:50AM
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 Coldwell Banker Heritage
Investment Insights
Based on property information with market context.
This 43.75-acre mixed-use property combines commercial, residential, and agricultural zoning with existing improvements and varied terrain. The 22.36-acre primary parcel includes B-3 frontage, an operating restaurant and bar within a historic oak barn, a liquor license, and a 3,000+ square foot single-family home. The adjoining 21.39-acre parcel is entirely R-4 and primarily wooded. Across both parcels, approximately 36 acres are unimproved R-4 land.
The property has approximately 900 feet of combined road frontage on both sides of Upper Valley Pike. Utilities include natural gas, electric, cable, water from a licensed OEPA public well, and city sewer access through an easement. A 1-acre pond, rolling hills, wooded ravines, and the site’s proximity to I-70, US 68, US 40, and St Rt 41 add to its physical flexibility. Dayton International Airport is approximately 20 minutes away, while Dayton, Columbus, and Cincinnati are approximately 30, 60, and 90 minutes away, respectively.
The property has approximately 900 feet of combined road frontage on both sides of Upper Valley Pike. Utilities include natural gas, electric, cable, water from a licensed OEPA public well, and city sewer access through an easement. A 1-acre pond, rolling hills, wooded ravines, and the site’s proximity to I-70, US 68, US 40, and St Rt 41 add to its physical flexibility. Dayton International Airport is approximately 20 minutes away, while Dayton, Columbus, and Cincinnati are approximately 30, 60, and 90 minutes away, respectively.
Key Highlights
- 43.75‑acre commercial property across two parcels
- Approximately 900 feet of combined frontage on both sides of Upper Valley Pike
- Primary 22.36‑acre parcel includes B‑3, R‑4, and A‑1 zoning
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
$58,731
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
4.54%
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%
$1,174,620
$1.2M
Cap Rate 7%
$839,014
$839.0K
Cap Rate 9%
$652,567
$652.6K
Market Conditions
NOI Build-Up for 3,008 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
$81.2K $27.00/SF
− Vacancy
−$2.9K −$0.97/SF
EGI
$78.3K $26.03/SF
− OpEx
−$19.6K −$6.51/SF
NOI
$58.7K $19.53/SF
Area
Clark County, OH
Vacancy
3.58%
Lease Rate
$27.00 /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%
$1,174,620
Cap Rate 7%
$839,014
Cap Rate 9%
$652,567
Alternative Uses
Best Use
Specialty Retail
$839.0K
$734.1K – $978.9K
NOI $58,731 @ 7.0% cap · market cap 4.54%
Second Best
Mixed Use
$444.8K
$389.2K – $518.9K
NOI $31,133 @ 7.0% cap · market cap 2.40%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
9
Businesses Nearby
Explore this area
Business Placement
Demographics for 45502, OH
16,767
Population
7,073
Households
2.4
Avg Household Size
46
Median Age
23%
College-Educated
92%
High-School Grad
115.3 sq mi
ZIP Area
145
Density / Sq Mi
$87,378
Median Household Income
$49,402
Median Earnings
$886
Median Rent
$225,500
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Large commercial tract with multiple zoning districts, existing improvements, and development-ready utility access.
Where is this mixed-use property located?
The property is located at 2375 Upper Valley Pike Springfield, OH.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: 43.75‑acre commercial property across two parcels; Approximately 900 feet of combined frontage on both sides of Upper Valley Pike; Primary 22.36‑acre parcel includes B‑3, R‑4, and A‑1 zoning
