Office Condominium with Private
For Sale
$208,000
436 Patterson Road, Dayton, OH 45419
The suite has a reception area, boardroom, kitchenette, and access to a dedicated parking lot.
Property Size1,678 SF
Price / SF$123.96
Days on Market10
Property Features for 436 Patterson Road
General Information
Standard status
Active
Size
1,678 SF
Taxes and HOA fees
Annual Taxes
$4,715
Listing Agency:
Comey & Shepherd
(513) 561-5800
Listed By:
Rogier Slingerland
(513) 801-7507
Source:
Exprealty
Added: Sep 24
Changed: Sep 29
Last Checked: Oct 3 at 12:56AM
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 Comey & Shepherd
Investment Insights
Based on property information with market context.
This office condominium contains approximately 1,678 SF, arranged with a reception area, boardroom, kitchenette, copy room, storage, and four private offices. Two powder rooms are also included, and the layout may accommodate additional offices. The property is located at 436 Patterson Road in the Patterson Woods complex. A private lot serves the complex’s offices, and this unit occupies a corner position.
Key Highlights
- Approximately 1,678 SF of office space
- Four private offices, with potential to add more
- Reception area, boardroom, kitchenette, copy room, and storage
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
$17,080
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
8.21%
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%
$341,600
$341.6K
Cap Rate 7%
$244,000
$244.0K
Cap Rate 9%
$189,778
$189.8K
Market Conditions
NOI Build-Up for 1,678 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
$29.2K $17.40/SF
− Vacancy
−$6.4K −$3.83/SF
EGI
$22.8K $13.57/SF
− OpEx
−$5.7K −$3.39/SF
NOI
$17.1K $10.18/SF
Area
Dayton, OH
Vacancy
22.00%
Lease Rate
$17.40 /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%
$341,600
Cap Rate 7%
$244,000
Cap Rate 9%
$189,778
Alternative Uses
Best Use
Office B
$244.0K
$213.5K – $284.7K
NOI $17,080 @ 7.0% cap · market cap 8.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$357.6K
$312.9K – $417.2K
NOI $25,033 @ 7.0% cap · market cap 12.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
438
Businesses Nearby
Explore this area
Business Placement
Demographics for 45419, OH
16,236
Population
7,480
Households
2.2
Avg Household Size
38
Median Age
57%
College-Educated
97%
High-School Grad
3.7 sq mi
ZIP Area
4,388
Density / Sq Mi
$85,876
Median Household Income
$50,849
Median Earnings
$1,006
Median Rent
$237,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office units - The suite has a reception area, boardroom, kitchenette, and access to a dedicated parking lot.
Where is this office units located?
The property is located at 436 Patterson Road Dayton, OH.
What is the asking price?
The asking price for this property is $208,000.
What are key features of this property?
This property features: Approximately 1,678 SF of office space; Four private offices, with potential to add more; Reception area, boardroom, kitchenette, copy room, and storage
