Medical Condo Near Dayton
For Sale
Contact for pricing
8940 Kingsridge Dr, Dayton, OH
Medical condo for sale near Dayton Mall with tenant.
Property Size1,185 SF
Lot Size0.03 Acres
Price / SF$118.06
Days on Market438
Property Features for 8940 Kingsridge Dr
General Information
Standard status
Active
Size
1,185 SF
Lot size
0.03 Acres
Property subtype
OFFICE
Listing Agency:
Howard Hanna | South Dayton
(937) 477-1106
Listed By:
David P Nianouris
(937) 477-1106
Source:
Moodyscre
Added: Jun 12, 2025
Changed: Aug 12
Last Checked: Aug 23 at 12:19PM
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
Investment Insights
Based on property information with market context.
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.
Key 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
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
$12,062
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
8.62%
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%
$241,240
$241.2K
Cap Rate 7%
$172,314
$172.3K
Cap Rate 9%
$134,022
$134.0K
Market Conditions
NOI Build-Up for 1,185 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
$20.6K $17.40/SF
− Vacancy
−$4.5K −$3.83/SF
EGI
$16.1K $13.57/SF
− OpEx
−$4.0K −$3.39/SF
NOI
$12.1K $10.18/SF
Area
Dayton, OH
Vacancy
22.00%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
25.00%
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%
$241,240
Cap Rate 7%
$172,314
Cap Rate 9%
$134,022
Alternative Uses
Best Use
Healthcare Medical
$197.5K
$172.8K – $230.4K
NOI $13,822 @ 7.0% cap · market cap 9.88%
Second Best
Office B
$172.3K
$150.8K – $201.0K
NOI $12,062 @ 7.0% cap · market cap 8.62%
Theoretical Best
Office A
$252.5K
$221.0K – $294.6K
NOI $17,678 @ 7.0% cap · market cap 12.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,011
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market 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
Frequently Asked Questions
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 $139,900.
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
