Flex Space
For Sale
Contact for pricing
2843 Culver Avenue, Kettering, OH 45429
Flex-space property constructed in 1965 and located on Culver Avenue in Kettering, Ohio.
Property Size7,000 SF
Price / SF$110.71
Days on Market9
Property Features for 2843 Culver Avenue
General Information
Standard status
Active
Size
7,000 SF
Property subtype
Industrial
Building Details
Year Built
1965
Stories
1
Tenancy
Single
Listing Agency:
Equity LLC Dayton
(937) 228-0155
Listed By:
Tracey Herron · License #OH SAL.0000446465
Source:
Crexi
Added: Aug 4
Changed: Aug 10
Last Checked: Aug 11 at 9:17AM
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 LLC Dayton
Investment Insights
Based on property information with market context.
This flex-space property at 2843 Culver Avenue in Kettering, Ohio, was constructed in 1965. The listing identifies the property size as 7,000, offering a commercial building format suited to flex-space users.
Key Highlights
- 7,000 listed property size
- Constructed in 1965
- Located at 2843 Culver Avenue in Kettering, OH 45429
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
$43,293
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
5.59%
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%
$865,860
$865.9K
Cap Rate 7%
$618,471
$618.5K
Cap Rate 9%
$481,033
$481.0K
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
$66.4K $9.48/SF
− Vacancy
−$4.5K −$0.64/SF
EGI
$61.8K $8.84/SF
− OpEx
−$18.6K −$2.65/SF
NOI
$43.3K $6.18/SF
Area
Greene County, OH
Vacancy
6.80%
Lease Rate
$9.48 /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%
$865,860
Cap Rate 7%
$618,471
Cap Rate 9%
$481,033
Alternative Uses
Best Use
Industrial
$618.5K
$541.2K – $721.6K
NOI $43,293 @ 7.0% cap · market cap 5.59%
Second Best
Flex RnD
$381.6K
$333.9K – $445.2K
NOI $26,710 @ 7.0% cap · market cap 3.45%
Theoretical Best
Office B
$1.32M
$1.15M – $1.54M
NOI $92,133 @ 7.0% cap · market cap 11.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
735
Businesses Nearby
Balanced
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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Similar Off Market Nearby
- Bernstein's Catering — 3100 Woodman Dr, Kettering, OH 45420
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- Chicken Head's — 1122 E Dorothy Ln, Kettering, OH 45429
Frequently Asked Questions
What type of property is this?
Flex space - Flex-space property constructed in 1965 and located on Culver Avenue in Kettering, Ohio.
Where is this flex space located?
The property is located at 2843 Culver Avenue Kettering, 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 listed property size; Constructed in 1965; Located at 2843 Culver Avenue in Kettering, OH 45429
