Leased Flex Space with Drive-In
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For Sale
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577 Congress Park Drive, Dayton, OH 45459
Fully occupied industrial property with drive-in loading access and PD-1 zoning.
Property Size20,399 SF
Lot Size2.01 Acres
Price / SF$122.56
Days on Market7
Property Features for 577 Congress Park Drive
General Information
Standard status
Active
Size
20,399 SF
Lot size
2.01 Acres
Property subtype
Industrial
Zoning
PD-1 – Planned Development Industrial
Occupancy
100%
Lease Type
NNN
Net Operating Income
$191,828
Additional Details
Drive-In Doors
7
Building Details
Year Built
1997
Tenancy
Multi
Building Size
20,399 SF
Listing Agency:
Apex Commercial Group, LLC
(937) 469-8270
Listed By:
Alex Nikolai · License #OH SAL.2020000029
Source:
Crexi
Added: Aug 27
Changed: Sep 1
Last Checked: Sep 1 at 8:31PM
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
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.
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 = 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
$220,866
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
8.83%
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%
$4,417,320
$4.4M
Cap Rate 7%
$3,155,229
$3.2M
Cap Rate 9%
$2,454,067
$2.5M
Market Conditions
NOI Build-Up for 20,399 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
$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 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%
$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
NOI $220,866 @ 7.0% cap · market cap 8.83%
Second Best
Flex RnD
$3.02M
$2.65M – $3.53M
NOI $211,619 @ 7.0% cap · market cap 8.46%
Theoretical Best
Office A
$4.35M
$3.80M – $5.07M
NOI $304,320 @ 7.0% cap · market cap 12.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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
