Dental Office in Ledgestone
For Sale
Contact for pricing
Pending
18 Remick Blvd, Springboro, OH 45066
Dental office for sale or lease in Springboro, Ohio.
Property Size3,000 SF
Days on Market714
Property Features for 18 Remick Blvd
General Information
Standard status
Pending
Size
3,000 SF
Property subtype
Office
Listing Agency:
Our Corporate Real Estate Department
(937) 361-9461
Listed By:
Jordan Romberger · License #OH SAL.2004015451
Source:
Crexi
Added: Sep 18, 2024
Changed: Aug 24
Last Checked: Aug 31 at 12:06AM
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 Our Corporate Real Estate Department
Investment Insights
Based on property information with market context.
This 3,000 square foot dental office is available for sale or lease within the Ledgestone Professional Park. The floor plan includes a waiting area, a check-in and check-out desk with space for staff, a patient restroom, a staff restroom, four treatment rooms, two offices that can be converted to treatment rooms, labs, a break room, and storage. The lease rate is $19.00 per square foot, plus utilities. This dentist office condominium is located in Springboro, Ohio.
Key Highlights
- Turnkey dental office ready for immediate operation.
- Functional floor plan with waiting area, reception, 4 treatment rooms, and 2 offices (convertible to treatment rooms).
- Includes patient and staff restrooms, labs, break room, and ample storage.
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
$44,060
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
8.90%
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%
$881,200
$881.2K
Cap Rate 7%
$629,429
$629.4K
Cap Rate 9%
$489,556
$489.6K
Market Conditions
NOI Build-Up for 3,000 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
$78.1K $26.04/SF
− Vacancy
−$4.7K −$1.56/SF
EGI
$73.4K $24.48/SF
− OpEx
−$29.4K −$9.79/SF
NOI
$44.1K $14.69/SF
Area
Warren County, OH
Vacancy
6.00%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
40.00%
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%
$881,200
Cap Rate 7%
$629,429
Cap Rate 9%
$489,556
Alternative Uses
Best Use
Healthcare Medical
$629.4K
$550.8K – $734.3K
NOI $44,060 @ 7.0% cap · market cap 8.90%
Second Best
Office B
$554.6K
$485.3K – $647.0K
NOI $38,821 @ 7.0% cap · market cap 7.84%
Theoretical Best
Office A
$670.1K
$586.3K – $781.8K
NOI $46,907 @ 7.0% cap · market cap 9.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
436
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 45066, OH
26,399
Population
9,747
Households
2.7
Avg Household Size
40
Median Age
57%
College-Educated
98%
High-School Grad
20.4 sq mi
ZIP Area
1,294
Density / Sq Mi
$122,208
Median Household Income
$64,298
Median Earnings
$1,387
Median Rent
$362,500
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Dental office for sale or lease in Springboro, Ohio.
Where is this medical office space located?
The property is located at 18 Remick Blvd Springboro, OH.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Turnkey dental office ready for immediate operation.; Functional floor plan with waiting area, reception, **4 treatment rooms**, and 2 offices (convertible to treatment rooms).; Includes patient and staff restrooms, labs, break room, and ample storage.
