Industrial Flex
For Sale
Contact for pricing
2843 Culver Ave, Dayton, OH 45429
Versatile industrial building with updated mechanical systems and rear grade-level access.
Property Size7,000 SF
Price / SF$110.71
Days on Market10
Property Features for 2843 Culver Ave
General Information
Standard status
Active
Size
7,000 SF
Property subtype
INDUSTRIAL
Listing Agency:
Equity | Dayton
(937) 470-3002
Listed By:
Tracey Herron
(937) 216-4636
Source:
Moodyscre
Added: Aug 3
Changed: Aug 10
Last Checked: Aug 11 at 1:19PM
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 Equity | Dayton
Investment Insights
Based on property information with market context.
This flex property provides 7,000 square feet within a building constructed in 1965 on 0.6313 acres. The interior offers a flexible configuration suited to a range of industrial or commercial operations, with one rear grade-level garage door for loading and access. Ceiling clearance measures 10 feet to the beam and 12 feet to the deck.
Recent capital improvements include a roof installed 5 years ago with a 30-year warranty, a new Generac generator, and HVAC installed in 2025. The property is located at 2843 Culver Ave in Dayton, Ohio.
Recent capital improvements include a roof installed 5 years ago with a 30-year warranty, a new Generac generator, and HVAC installed in 2025. The property is located at 2843 Culver Ave in Dayton, Ohio.
Key Highlights
- 7,000 SF industrial flex building on 0.6313 acres
- Roof installed 5 years ago with a 30‑year warranty
- New HVAC installed in 2025
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
$62,416
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
8.05%
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%
$1,248,320
$1.2M
Cap Rate 7%
$891,657
$891.7K
Cap Rate 9%
$693,511
$693.5K
Market Conditions
NOI Build-Up for 7,000 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
$92.4K $13.20/SF
− Vacancy
−$3.2K −$0.46/SF
EGI
$89.2K $12.74/SF
− OpEx
−$26.7K −$3.82/SF
NOI
$62.4K $8.92/SF
Area
Dayton, OH
Vacancy
3.50%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
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%
$1,248,320
Cap Rate 7%
$891,657
Cap Rate 9%
$693,511
Alternative Uses
Best Use
Flex RnD
$1.04M
$907.7K – $1.21M
NOI $72,618 @ 7.0% cap · market cap 9.37%
Second Best
Industrial
$891.7K
$780.2K – $1.04M
NOI $62,416 @ 7.0% cap · market cap 8.05%
Theoretical Best
Office A
$1.49M
$1.31M – $1.74M
NOI $104,429 @ 7.0% cap · market cap 13.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
406
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 Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile industrial building with updated mechanical systems and rear grade-level access.
Where is this flex space located?
The property is located at 2843 Culver Ave Dayton, OH.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: 7,000 SF industrial flex building on 0.6313 acres; Roof installed 5 years ago with a 30‑year warranty; New HVAC installed in 2025
