Multi-Tenant Flex Space
For Sale
Contact for pricing
8521-8571 Gander Creek, Miamisburg, OH 45342
Office and flex accommodations with available expansion capacity, loading access, and substantial on-site parking.
Property Size73,740 SF
Lot Size8.41 Acres
Price / SF$66.45
Days on Market154
Property Features for 8521-8571 Gander Creek
General Information
Standard status
Active
Size
73,740 SF
Class
B
Total Parking Spaces
353
Lot size
8.41 Acres
Property subtype
Industrial, Mixed Use, Office
Zoning
PD
Occupancy
87%
Lease Type
Modified Gross
Investment Type
Value Add
Net Operating Income
$426,431
Additional Details
Asking Price
$4,900,000
Highway Access
Yes
Dock-High Doors
1
Amenities
loading dock
three overhead doors
generous green space
beautiful landscaping
Building Details
Year Built
1989
Year Renovated
2025
Buildings
1
Stories
1
Tenancy
Multi
Building Size
73,740 SF
Listing Agency:
Crest Commercial Realty
Listed By:
Anthony Taylor · License #OH 2006001798
Source:
Crexi
Added: Mar 31
Changed: Aug 30
Last Checked: Aug 30 at 8:38PM
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 Crest Commercial Realty
Investment Insights
Based on property information with market context.
This 73,740-square-foot flex property was built in 1989 and is arranged as a multi-unit office and flex center. The building is 87% occupied by a mix of long-term tenants, with an additional 9,343 square feet available for leasing. Rear service features include a loading dock and three overhead doors, while 353 parking spaces support daily operations.
The property occupies 8.41 acres in Miamisburg, Ohio, within Miami Township, and carries PD, or Planned Development, zoning. Its address on Gander Creek provides access to I-675 and I-75, with commercial amenities located minutes away. Landscaped grounds and surrounding green space are also part of the site.
The property occupies 8.41 acres in Miamisburg, Ohio, within Miami Township, and carries PD, or Planned Development, zoning. Its address on Gander Creek provides access to I-675 and I-75, with commercial amenities located minutes away. Landscaped grounds and surrounding green space are also part of the site.
Key Highlights
- 73,740‑square‑foot multi‑unit office and flex center
- 8.41‑acre site with 353 parking spaces
- 87% occupied with 9,343 square feet available for leasing
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
$388,448
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
7.93%
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%
$7,768,960
$7.8M
Cap Rate 7%
$5,549,257
$5.5M
Cap Rate 9%
$4,316,089
$4.3M
Market Conditions
NOI Build-Up for 73,740 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
$592.9K $8.04/SF
− Vacancy
−$37.9K −$0.51/SF
EGI
$554.9K $7.53/SF
− OpEx
−$166.5K −$2.26/SF
NOI
$388.4K $5.27/SF
Area
Montgomery County, OH
Vacancy
6.40%
Lease Rate
$8.04 /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%
$7,768,960
Cap Rate 7%
$5,549,257
Cap Rate 9%
$4,316,089
Alternative Uses
Best Use
Flex RnD
$9.61M
$8.41M – $11.21M
NOI $672,802 @ 7.0% cap · market cap 13.73%
Second Best
Office B
$8.68M
$7.60M – $10.13M
NOI $607,830 @ 7.0% cap · market cap 12.40%
Theoretical Best
Multifamily LT 5
$697.44M
$610.26M – $813.68M
NOI $48,820,821 @ 7.0% cap · market cap 996.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Dock-high doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
598
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 45342, OH
37,508
Population
15,818
Households
2.4
Avg Household Size
39
Median Age
33%
College-Educated
94%
High-School Grad
34.3 sq mi
ZIP Area
1,094
Density / Sq Mi
$83,936
Median Household Income
$48,533
Median Earnings
$1,247
Median Rent
$206,800
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 - Office and flex accommodations with available expansion capacity, loading access, and substantial on-site parking.
Where is this flex space located?
The property is located at 8521-8571 Gander Creek Miamisburg, OH.
What is the asking price?
The asking price for this property is $4,900,000.
What are key features of this property?
This property features: 73,740‑square‑foot multi‑unit office and flex center; 8.41‑acre site with 353 parking spaces; 87% occupied with 9,343 square feet available for leasing
