Warehouse with Dock
For Sale
Contact for pricing
875 Center Dr, Vandalia, OH 45377
Warehouse offering 9 dock doors, expandable to 14, plus a 6,000 SF office and 21' clear height.
Property Size99,000 SF
Lot Size8.20 Acres
Price / SF$70
Days on Market299
Property Features for 875 Center Dr
General Information
Standard status
Active
Size
99,000 SF
Total Parking Spaces
60
Lot size
8.20 Acres
Property subtype
INDUSTRIAL
Warehouse & Industrial
Clear Height
21 ft
Office Build-Out
6,000 SF
Dock-High Doors
9
Drive-In Doors
1
Column Spacing
40 x 40 ft
Building Details
Building Size
99,000 SF
Listing Agency:
CBRE | Cincinnati
(513) 369-1311
Listed By:
Doug Whitten · License #2005000631
(513) 600-6700
Source:
Moodyscre
Added: Nov 17, 2025
Changed: Sep 4
Last Checked: Sep 11 at 9:33AM
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 CBRE | Cincinnati
Investment Insights
Based on property information with market context.
This warehouse property includes approximately 99,000 SF of industrial space with a dedicated office component of approximately 6,000 SF. The facility offers 21’ clear height and a 40’ x 40’ column spacing pattern designed for efficient operating layouts. Loading is supported by 9 dock doors, with the ability to expand to 14, along with 1 drive-in door.
The site provides about 8.2 acres of land and approximately 60 auto parking spaces. The warehouse design includes substantial vertical clearance and dock capacity that can support a range of logistics and distribution needs.
With its dock door count, expandable loading configuration, and moderate office presence, the property is structured to accommodate both warehouse operations and on-site administrative functions.
The site provides about 8.2 acres of land and approximately 60 auto parking spaces. The warehouse design includes substantial vertical clearance and dock capacity that can support a range of logistics and distribution needs.
With its dock door count, expandable loading configuration, and moderate office presence, the property is structured to accommodate both warehouse operations and on-site administrative functions.
Key Highlights
- ±99,000 SF warehouse with ±6,000 SF office and 21' clear height
- 9 dock doors expandable to 14 dock doors
- 40' x 40' column spacing
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
$639,662
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
9.14%
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%
$12,793,240
$12.8M
Cap Rate 7%
$9,138,029
$9.1M
Cap Rate 9%
$7,107,356
$7.1M
Market Conditions
NOI Build-Up for 100,000 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
$804.0K $8.04/SF
− Vacancy
−$51.5K −$0.51/SF
EGI
$752.5K $7.53/SF
− OpEx
−$112.9K −$1.13/SF
NOI
$639.7K $6.40/SF
Area
Montgomery County, OH
Vacancy
6.40%
Lease Rate
$8.04 /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%
$12,793,240
Cap Rate 7%
$9,138,029
Cap Rate 9%
$7,107,356
Alternative Uses
Best Use
Warehouse
$9.14M
$8.00M – $10.66M
NOI $639,662 @ 7.0% cap · market cap 9.14%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$945.81M
$827.58M – $1,103.45M
NOI $66,206,700 @ 7.0% cap · market cap 945.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
21 ft
Clear height
9
Dock-high doors
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
170
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 45377, OH
15,070
Population
6,800
Households
2.2
Avg Household Size
43
Median Age
28%
College-Educated
94%
High-School Grad
21.2 sq mi
ZIP Area
711
Density / Sq Mi
$82,617
Median Household Income
$46,969
Median Earnings
$872
Median Rent
$191,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse offering 9 dock doors, expandable to 14, plus a 6,000 SF office and 21' clear height.
Where is this warehouse located?
The property is located at 875 Center Dr Vandalia, OH.
What is the asking price?
The asking price for this property is $7,000,000.
What are key features of this property?
This property features: ±99,000 SF warehouse with ±6,000 SF office and 21' clear height; 9 dock doors expandable to 14 dock doors; 40' x 40' column spacing
