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    Medical Condo Near Dayton Mall Title is generated by Realmo AI

    8940 Kingsridge Dr, Dayton, OH

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    Medical condo for sale near Dayton Mall with tenant.

    Type:OFFICE
    Property size:
    1,185 SF
    Lot size:
    0.03 Acres
    Price / SF:
    $257/SF
    Added:
    Jun 5, 2025
    Days on Market:
    361
    Last Refresh:
    May 20 at 8:45 pm

    Property Features for 8940 Kingsridge Dr

    General Information

    Standard status
    Active
    Size
    1,185 SF
    Lot size
    0.03 Acres
    Property subtype
    OFFICE

    We can help!

    Listing Contact
    David P Nianouris

    Listing agent David P Nianouris

    Listing office Howard Hanna | South Dayton

    Listing date Jun 5, 2025

    Source Moodyscre

    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 Howard Hanna | South Dayton

    HighLights

    • High 9% Cap Rate
    • Prime Location adjacent to Dayton Mall with convenient expressway access
    • Existing lease in place through early 2028 providing immediate income
    • Located in Miami Township with no local earnings tax
    • Versatile suite with 6 offices, 4‑5 with plumbing for wet exam room conversion
    • Ample on‑site parking

    Overview

    Located in Miami Township, which has no local earnings tax, the property at 8940 Kingsridge Rd. includes a 1,185 square foot condominium unit (Suite 105) within a 12,000 square foot building comprised of four medical condominiums. The unit shares a 273 square foot waiting room. The suite contains 6 offices, with 4 to 5 offices having plumbing in the walls, allowing for conversion back into wet exam rooms. The condominium has a private entrance from the outside and from a common area waiting room with two additional restrooms. Ample parking is available in the on-site lot. The property is in a prime location adjacent to the Dayton Mall and offers convenient access to the expressway. The current tenant, a mental health practitioner, occupies two of the building’s condos and is scheduled to expand into this one in early 2025. The current lease for Suite 105 is in effect through early 2028. The property offers an 9% cap rate. Showings will only be scheduled after an accepted offer, subject to viewing the building, due to HIPAA regulations.
    Property Profile Location Intelligence

    Current Use by Public Records

    Jayson Keener, PA-C Physician Stephanie Johnson Psychotherapist Dr. Michael Davis Alternative Medicine Practice Murray Cotter, MD, ... Physician Jennifer Bryant, ARNP Physician

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Pets In Stitches — 8265 N Springboro Pike, Miamisburg, OH 45342
    • Raymond M. Fournier, DVM — 8926 kingsridge dr, dayton, oh 45458
    • Shaffer Lesley DVM — 8926 Kingsridge Dr, Dayton, OH 45458
    • Dr. Sara Wells — 3646 Watertower Ln, West Carrollton, OH 45449
    • Kim Burkhardt — 3646 Watertower Ln, West Carrollton, OH 45449

    Location Insight

    • Map
    • Local Demand
    City
    Dayton
    County
    Greene
    State
    Ohio
    Longitude
    -84.2223
    Latitude
    39.6299

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    FAQs

    What type of property is this?
    Medical Office Space - Medical condo for sale near Dayton Mall with tenant.
    Where is this medical office space located?
    The property is located at 8940 Kingsridge Dr Dayton, OH.
    What is the asking price?
    The asking price for this property is $305,000.
    What are key features of this property?
    This property features: High 9% Cap Rate; Prime Location adjacent to Dayton Mall with convenient expressway access; Existing lease in place through early 2028 providing immediate income
    (937) 477-1106 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    David P Nianouris
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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