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    3214 Old Springfield Rd Vandalia, OH 45377

    Sponsored
    For Sale
    Contact for pricing

    97,600 SF hangar, 15-year lease, strong tenant.

    Property size:
    97,600 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a fee-simple ownership of a Class A, 97,600-square-foot industrial facility in Vandalia, Ohio. The property, built in 2023, is a single-tenant, triple-net (NNN) leased hangar within the Sierra Nevada Aviation Innovation and Technology Center on the Dayton International Airport campus. The 15-year lease, commencing December 1, 2022, and expiring November 30, 2037, features a corporate guarantee and includes four, three-year lease options. Annual rent increases of 1.9% are built into the lease, providing a hedge against inflation. The property boasts a 90-foot ceiling height and sits on a substantial 694,434-square-foot lot. The tenant, a significant player in the aviation industry, has made a substantial commitment to the Dayton area, with further expansion already underway on the campus. The location benefits from proximity to Wright-Patterson Air Force Base and a skilled workforce. The property is subject to a ground lease with the City of Dayton, extending until December 29, 2070, providing long-term stability. This is a highly passive investment with a strong tenant and significant upside potential due to the built-in annual rent escalations and long-term lease. The 100% occupancy since December 1, 2022, further underscores the strength of this investment. This is a rare opportunity to acquire a high-quality, net-leased industrial asset with exceptional long-term growth prospects.

    Property Features for 3214 Old Springfield Rd

    General Information

    Property type
    Life science properties
    Square Feet
    97,600 SF
    Class
    A

    Building Details

    Year Built
    2023
    Buildings
    1

    HighLights

    • Significant tenant investment exceeding $200 million in a new Aviation Innovation and Technology Center (AITC) at Dayton International Airport, including four hangars totaling over 341,000 square feet.
    • Triple‑net (NNN) lease structure with tenant‑funded capital improvements, minimizing landlord expenses and management responsibilities.
    • Annual rent increases of 1.9% provide inflation protection and continue throughout option periods.
    • Strategic Dayton location selected after a national search, benefiting from proximity to Wright‑Patterson Air Force Base, strong logistics infrastructure, skilled workforce, and established supply chain.
    Property Profile Location Intelligence

    Current Use by Public Records

    Life science properties

    Suggested Use

    Restaurant Building Supply Auto Repair Shop Bar & Pub Storage Facility Cafe & Coffee Shop Car Rental Parking Facility

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

    Location Insight

    • Map
    • Local Demand
    City
    Vandalia
    County
    Montgomery
    State
    Ohio
    Longitude
    -84.2288544
    Latitude
    39.9114391

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    FAQs

    What type of property is this?
    Life science property - 97,600 SF hangar, 15-year lease, strong tenant.
    Where is this life science property located?
    The property is located at 3214 Old Springfield Rd Vandalia, OH.
    What are key features of this property?
    This property features: Significant tenant investment exceeding $200 million in a new Aviation Innovation and Technology Center (AITC) at Dayton International Airport, including four hangars totaling over 341,000 square feet.; Triple-net (NNN) lease structure with tenant-funded capital improvements, minimizing landlord expenses and management responsibilities.; Annual rent increases of 1.9% provide inflation protection and continue throughout option periods.
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    Realmo Value Estimation

    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.

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    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.

    Alternative use

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

    More about this property
    3214 Old Springfield Rd Vandalia, OH 45377
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