99,000 SF Industrial Space
For Sale
Contact for pricing
875 Center Dr, Vandalia, OH
99,000 SF industrial space for lease in Vandalia, OH.
Property Size99,000 SF
Lot Size8.20 Acres
Price / SF$70.71
Days on Market265
Property Features for 875 Center Dr
General Information
Standard status
Active
Size
99,000 SF
Lot size
8.20 Acres
Property subtype
INDUSTRIAL
Properties For Sale
at 875 Center Dr Contact us- Floor
- Bldg
- Size
- 96,093 SF
- Type
- INDUSTRIAL
- Lease Type
- NNN
- Availability
- AVAILABLE, Now
- Sublease
- No
875 Center Dr
- +/- 96,093 SF
- Office SF: ± 10,424 (1st FL: 8,170 SF & 2nd FL: 2,254 SF [not...
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Listing Agency:
CBRE | Cincinnati
(513) 600-6700
Listed By:
Doug Whitten · License #2005000631
(513) 600-6700
Source:
Moodyscre
Added: Nov 17, 2025
Changed: Aug 8
Last Checked: Aug 8 at 12:20PM
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.
Available for lease is a +/- 99,000 SF industrial building, suitable for warehouse, manufacturing, and other industrial uses. Constructed in 1987, the building features concrete tilt exterior walls and an EPDM roof installed in 2012, with materials expected to last until 2027. The property is zoned for light industrial use and is situated on an 8.2-acre lot. The building dimensions are 400' x 240', with a column spacing of 40' x 40' and a clear height of 21'. The space includes +/- 6,000 SF of office area. It is partially air-conditioned and equipped with mixed LED/T-5 interior lighting, including partial warehouse automatic sensors, and an ESFR sprinkler system. The property has 9 dock doors, expandable to 14, and 1 drive-in door. It is equipped with 4,000 amps of power, 60 parking spaces, and a 114' truck court depth. Personal equipment, including a generator, water chiller, air compressor, airlines, and a paint booth, may be available.
Key Highlights
- +/- 99,000 SF available for sale
- Ample 4,000 Amps power supply
- 9 dock doors (expandable to 14)
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
$633,266
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
9.05%
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%
$12,665,320
$12.7M
Cap Rate 7%
$9,046,657
$9.0M
Cap Rate 9%
$7,036,289
$7.0M
Market Conditions
NOI Build-Up for 99,000 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
$796.0K $8.04/SF
− Vacancy
−$50.9K −$0.51/SF
EGI
$745.0K $7.53/SF
− OpEx
−$111.8K −$1.13/SF
NOI
$633.3K $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%
$12,665,320
Cap Rate 7%
$9,046,657
Cap Rate 9%
$7,036,289
Alternative Uses
Best Use
Warehouse
$9.05M
$7.92M – $10.55M
NOI $633,266 @ 7.0% cap · market cap 9.05%
Second Best
Industrial
$7.45M
$6.52M – $8.69M
NOI $521,513 @ 7.0% cap · market cap 7.45%
Theoretical Best
Multifamily LT 5
$936.35M
$819.31M – $1,092.41M
NOI $65,544,633 @ 7.0% cap · market cap 936.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
264
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Warehouse - 99,000 SF industrial space for lease in Vandalia, OH.
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 available for sale; Ample 4,000 Amps power supply; 9 dock doors (expandable to 14)
