Building Details

Year Built 1997

Tenancy Multi

Building Size 20,399 SF

Listing Agency: Apex Commercial Group, LLC

Listed By: Alex Nikolai · License #OH SAL.2020000029 Show Phone

Source: Crexi

Added: Aug 27 Changed: Oct 11 Last Checked: Oct 16 at 9:20AM

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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 Apex Commercial Group, LLC

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Investment Insights

Based on property information with market context.

Built in 1997, this flex-space property contains 20,399 SF on approximately 2.007 acres. The building is 100% occupied and includes seven drive-in doors, supporting loading, warehousing, service, and vehicle-access functions. Zoning is PD-1 – Planned Development Industrial.

The property is located at 577 Congress Park Drive in Dayton, Ohio, within Washington Township. Its industrial setting and existing occupancy provide an established operating configuration for users requiring functional building access and flexible space.

Key Highlights

• 20,399 SF flex‑space building on 2.007 acres
• 100% occupied with existing tenancy in place
• Seven drive‑in doors for loading and vehicle access

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$220,866

Cap Rate

8.83%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,417,320 $4.4M

Cap Rate 7%

$3,155,229 $3.2M

Cap Rate 9%

$2,454,067 $2.5M

Is this asking price fair?

Market Conditions

NOI Build-Up for 20,399 SF

Gross rent

$269.3K $13.20/SF

− Vacancy

−$9.4K −$0.46/SF

EGI

$259.8K $12.74/SF

− OpEx

−$39.0K −$1.91/SF

NOI

$220.9K $10.83/SF

Area

Dayton, OH

Vacancy

3.50%

Lease Rate

$13.20 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,417,320

Cap Rate 7%

$3,155,229

Cap Rate 9%

$2,454,067

Alternative Uses

Best Use

Warehouse

$3.16M

$2.76M – $3.68M (±1% cap)

NOI $220,866 @ 7.0% cap · market cap 8.83%

Second Best

Flex RnD

$3.02M

$2.65M – $3.53M (±1% cap)

NOI $211,619 @ 7.0% cap · market cap 8.46%

Theoretical Best

Office A

$4.35M

$3.80M – $5.07M (±1% cap)

NOI $304,320 @ 7.0% cap · market cap 12.17%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Joseph E. Rueth Law Firm Meixner Builders & Remodelers, ... Construction Company

Suggested Use

Top Pick Big Box & Wholesale Store Building Supply Auto Parts Store Auto Repair Shop Parking Lot & Garage Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

7

Drive-in doors

Location Intelligence

Trade Area within ½ mile

1,098

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 45459, OH

28,344

Population

13,988

Households

2

Avg Household Size

50

Median Age

50%

College-Educated

98%

High-School Grad

14.2 sq mi

ZIP Area

1,996

Density / Sq Mi

$89,144

Median Household Income

$54,044

Median Earnings

$1,187

Median Rent

$276,100

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Fully occupied industrial property with drive-in loading access and PD-1 zoning.

Where is this flex space located?

The property is located at 577 Congress Park Drive Dayton, OH.

What is the asking price?

The asking price for this property is $2,500,000.

What are key features of this property?

This property features: 20,399 SF flex‑space building on 2.007 acres; 100% occupied with existing tenancy in place; Seven drive‑in doors for loading and vehicle access