Retail Strip
New
For Sale
$3,070,000
4454 Brandt Pike, Dayton, OH 45424
Retail strip center constructed in 2006 with a substantial commercial footprint.
Property Size21,013 SF
Price / SF$146.10
Days on Market2
Property Features for 4454 Brandt Pike
General Information
Standard status
Active
Size
21,013 SF
Property subtype
Shopping Strip
Amenities
90 Percent Occupied, 21,013-Square-Foot Kroger-Shadowed Retail Strip in Dayton, Ohio
Located on Brandt Pike with 23,833 Vehicles per Day and Strong Commuter Connectivity
Shadow-Anchored by Kroger (65 Percent Nationally per Placer.ai, 1.2 Million Annual Visitors)
Long-Term Leases with Existing 5.74 -Year WALT
Upside Through Lease-Up of Remaining 2,000-Square-Foot Vacancy (59bps Cap Upside)
Easy-to-Manage with Only Five Total Tenant Bays; In-Place Triple-Net Leases
Infill Population Base: 8,000 / 41,000 / 141,000 Popuation on One / Three / Five-Mile Basis
Proximate to Wright-Patterson Air Force Base and Downtown Dayton Employment
Building Details
Building Size
21,013 SF
Year Built
2006
Listing Agency:
Marcus & Millichap - Cleveland
Listed By:
Scott Wiles · License #License(s): OH: SAL.2005013197
(216) 264-2026
Source:
Marcusmillichap
Added: Sep 5
Last Checked: Sep 5 at 3:43PM
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 Marcus & Millichap - Cleveland
Investment Insights
Based on property information with market context.
Brandt Pike Place is a retail strip center comprising 21,013 square feet of commercial space. The property was constructed in 2006 and is located at 4454 Brandt Pike in Dayton, Ohio.
The asset’s retail-oriented configuration supports its classification as a strip mall and provides a defined commercial property format for prospective buyers evaluating retail space.
The asset’s retail-oriented configuration supports its classification as a strip mall and provides a defined commercial property format for prospective buyers evaluating retail space.
Key Highlights
- 21,013‑square‑foot retail strip center
- Constructed in 2006
- Located at 4454 Brandt Pike, Dayton, OH 45424
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
$198,255
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
6.46%
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%
$3,965,100
$4.0M
Cap Rate 7%
$2,832,214
$2.8M
Cap Rate 9%
$2,202,833
$2.2M
Market Conditions
NOI Build-Up for 21,013 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
$302.6K $14.40/SF
− Vacancy
−$19.4K −$0.92/SF
EGI
$283.2K $13.48/SF
− OpEx
−$85.0K −$4.04/SF
NOI
$198.3K $9.43/SF
Area
Dayton, OH
Vacancy
6.40%
Lease Rate
$14.40 /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%
$3,965,100
Cap Rate 7%
$2,832,214
Cap Rate 9%
$2,202,833
Alternative Uses
Best Use
Retail
$2.83M
$2.48M – $3.30M
NOI $198,255 @ 7.0% cap · market cap 6.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.48M
$3.92M – $5.22M
NOI $313,480 @ 7.0% cap · market cap 10.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
156
Businesses Nearby
Explore this area
Business Placement
Demographics for 45424, OH
50,920
Population
21,557
Households
2.4
Avg Household Size
39
Median Age
27%
College-Educated
93%
High-School Grad
31.5 sq mi
ZIP Area
1,617
Density / Sq Mi
$78,566
Median Household Income
$45,827
Median Earnings
$1,096
Median Rent
$169,000
Median Home Value
Market
Vacancy Rate% for Retail in Dayton, OH
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Strip mall - Retail strip center constructed in 2006 with a substantial commercial footprint.
Where is this strip mall located?
The property is located at 4454 Brandt Pike Dayton, OH.
What is the asking price?
The asking price for this property is $3,070,000.
What are key features of this property?
This property features: 21,013‑square‑foot retail strip center; Constructed in 2006; Located at 4454 Brandt Pike, Dayton, OH 45424
