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    606 National Rd Vandalia, OH 45377

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    606 National Rd Vandalia, OH 45377

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    • Commercial real estate
    • 11,000 SF
    • 0.71 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Car Rental Vandalia, Ohio / Car Rental Facility

    Property Details for 606 National Rd

    Year built
    1951
    Lot size
    0.71 lot acres
    Property size
    11,000 SF
    Property type
    Commercial real estate

    Description

    This expansive 11,000 square foot commercial property, situated on a 0.71-acre lot in Vandalia, Ohio, presents a unique investment opportunity. Currently configured as a church, the building boasts a large sanctuary/auditorium, approximately 20 classrooms or offices, a kitchen, three bathrooms, and ample storage space. The property is zoned for highway business, offering significant flexibility for a variety of commercial uses. A newer roof ensures long-term cost savings. The property's location at 606 W National Road provides excellent visibility and accessibility. This offering presents two distinct purchase options: the entire property, including the church building and parking area, for $775,000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Vandalia
    County
    Montgomery
    State
    Ohio
    Longitude
    -84.2088
    Latitude
    39.8897

    Comparable in this City

    • Value Estimation by Request
      302.50 Acres

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    • Value Estimation by Request
      2.00 Acres

      11031 Dixie Dr

      COMMERCIAL (GENERAL) • 2.00 Acres
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      0.50 Acres

      Old Springfield Rd

      COMMERCIAL (GENERAL) • 0.50 Acres
      Old Springfield Rd, Vandalia, OH 45377
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    • Value Estimation by Request
      8.30 Acres

      1810 Old Springfield Rd

      Land • 8.30 Acres
      1810 Old Springfield Rd, Vandalia, OH 45377
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    • Value Estimation
      $2,535,000
      26,472 SF

      250 Cassel Rd

      COMMERCIAL (GENERAL) • 26,472 SF
      250 Cassel Rd, Vandalia, OH 45377-9451
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    • Value Estimation by Request
      1,114 SF

      7600 Dixie Dr

      COMMERCIAL (GENERAL) • 1,114 SF
      7600 Dixie Dr, Vandalia, OH 45377
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    Similar Nearby for Sale

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      10,410 SF

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      Land Near Dayton Airport

      Commercial land available near Dayton International Airport.
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      Commercial Land in Busy Center

      Graded lot with utilities in front of Kroger.
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      Standalone Office Building For Sale

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      5,346 SF

      Retail Property on National Road

      Retail property available for sale in Vandalia, Ohio.
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    • $450,000
      Pending

      Vandalia, OH Commercial Land

      Approximately 1 acre of highway business zoned land for sale.
      626 National Rd, Vandalia, OH 45377
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    Similar Nearby for Lease

    • $2,500 /Mo
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      Vandalia Office Space For Lease

      Office space for lease in Vandalia, Ohio.
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      Modern Industrial Facility Near Airport

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      Vandalia Industrial Facility For Rent

      96,093 SF industrial facility with expansion potential.
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      18,320 SF

      Vandalia Warehouse Space Available

      4,160 SF warehouse space for lease in Vandalia, Ohio.
      743-787 Crossroads Ct, Vandalia, OH 45377
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    • $2,950 /Mo
      4,000 SF

      Vandalia Commercial Space For Lease

      4,000 sq ft commercial space with garage and office.
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    • Contact for pricing
      150,000 SF

      Modern Warehouse Space Available

      Class A warehouse space ideal for overflow or dead storage.
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      View Details
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    Vandalia, OH 45377
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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.

    More about this property
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