Furnished Flex Industrial
For Sale
$1,490,000
4155 Gibson Dr Tipp, Tipp City, OH 45371
Includes office furnishings, cubicles, racking, and a gated yard with parking around the building.
Property Size7,500 SF
Price / SF$198.67
Days on Market194
Property Features for 4155 Gibson Dr Tipp
General Information
Standard status
Active
Size
7,500 SF
Property subtype
Factory
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
15 ft
Warehouse Space
5,100 SF
Office Build-Out
2,400 SF
Power
400 amps
Voltage
208 V
Three-Phase Power
Yes
Additional Details
Furnished
Yes
Asking Price
$1,490,000
Office Units
1
Building Details
Building Size
7,500 SF
Year Built
1996
Buildings
1
Listing Agency:
NAI | Bergman
(937) 673-4366
Listed By:
Scott Kaster · License ##SAL.2009000788
(937) 673-4366
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 30
Last Checked: Aug 30 at 2:32PM
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 NAI | Bergman
Investment Insights
Based on property information with market context.
This 7,500 SF flex industrial building, constructed in 1996, combines approximately 5,100 SF of warehouse area with 2,400 SF of office space. The warehouse includes three overhead doors, 3PH 208V power with 400 amps, and ceiling heights ranging from 13 feet at the eave to 15 feet at the peak. Office improvements include a conference room, manager’s office, four hard-wall offices, two restrooms, and nine hardwired cubicles. Furniture, cubicles, and racking convey with the property.
A gated yard provides parking at the front and along the side of the building, along with an outdoor storage area. The property is a short distance from I-70 and the I-70/I-75 interchange. Heating includes a coal furnace in the warehouse and two electric heat pumps in the office. A high-flow well is located beside the salt shed. The salt shed and shipping containers are excluded from the sale and scheduled for removal in March.
A gated yard provides parking at the front and along the side of the building, along with an outdoor storage area. The property is a short distance from I-70 and the I-70/I-75 interchange. Heating includes a coal furnace in the warehouse and two electric heat pumps in the office. A high-flow well is located beside the salt shed. The salt shed and shipping containers are excluded from the sale and scheduled for removal in March.
Key Highlights
- 7,500 SF building with approximately 5,100 SF of warehouse and 2,400 SF of office area
- 3 OH doors measuring 12'x12' each
- 3PH 208V power with 400 amps
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
$100,353
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
6.74%
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%
$2,007,060
$2.0M
Cap Rate 7%
$1,433,614
$1.4M
Cap Rate 9%
$1,115,033
$1.1M
Market Conditions
NOI Build-Up for 7,500 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
$126.0K $16.80/SF
− Vacancy
−$7.9K −$1.06/SF
EGI
$118.1K $15.74/SF
− OpEx
−$17.7K −$2.36/SF
NOI
$100.4K $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%
$2,007,060
Cap Rate 7%
$1,433,614
Cap Rate 9%
$1,115,033
Alternative Uses
Best Use
Warehouse
$1.43M
$1.25M – $1.67M
NOI $100,353 @ 7.0% cap · market cap 6.74%
Second Best
Office B
$1.21M
$1.06M – $1.41M
NOI $84,544 @ 7.0% cap · market cap 5.67%
Theoretical Best
Office A
$1.53M
$1.34M – $1.78M
NOI $106,999 @ 7.0% cap · market cap 7.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
15 ft
Clear height
1
Office units
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
136
Businesses Nearby
Under-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 Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Includes office furnishings, cubicles, racking, and a gated yard with parking around the building.
Where is this flex space located?
The property is located at 4155 Gibson Dr Tipp Tipp City, OH.
What is the asking price?
The asking price for this property is $1,490,000.
What are key features of this property?
This property features: 7,500 SF building with approximately 5,100 SF of warehouse and 2,400 SF of office area; 3 OH doors measuring 12'x12' each; 3PH 208V power with 400 amps
