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    111 1St St Dayton, OH 45402
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    Property profile & analytics

    111 1St St, Dayton, OH 45402

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    • Office Spaces
    • 182,160 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Dayton Web Design / Marketing & Advertising / (Bike/Boat/Book/etc) Store
    • Doll Jansen & Ford / Law Firm
    • Tax Relief Partners - IRS Tax Debt Settlement Attorney, Free Consultation / Tax Preparation
    • RA Consultants / Association / Organization
    • Slicer Law Office / Law Firm / Child Welfare Organization

    Property Details for 111 1St St

    Year built
    1969
    Property type
    Office Spaces
    Property subtype
    Office Units

    Description

    This exceptional Class A office building, located at 111 West First Street in Dayton, Ohio's central business district (Dayton CBD), offers 182,160 square feet of prime office space. Built in 1969 and encompassing eleven stories, the property boasts a variety of suite sizes, ranging from a minimum of 468 square feet to a maximum contiguous space of 15,417 square feet. Currently, there are 37,090 square feet of vacant space available for lease, spread across multiple suites within this ten-suite building. The building's strategic location at the intersection of West First and Ludlow Streets provides unparalleled access to Interstate 75, a major thoroughfare with a daily traffic count of 175,000 vehicles. This property is ideal for businesses seeking high-quality, flexible office space in a vibrant and convenient location. The building's classification as a Class A property reflects its superior amenities and finishes. Montgomery County is the location of this property, and the zip code is 45402. The property is suitable for various office uses, including traditional, executive, medical, and creative office spaces.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Dayton
    County
    Montgomery
    State
    Ohio
    Longitude
    -84.1948
    Latitude
    39.7624

    Comparable in this City

    • Value Estimation by Request
      0.08 Acres

      Zeigler St

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      Zeigler St, Dayton, OH 45402
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    • Value Estimation by Request
      0.15 Acres

      Zeigler St

      MEDICAL BUILDING
      Zeigler St, Dayton, OH 45402
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    • Value Estimation by Request
      0.13 Acres

      Ludlow St

      MEDICAL BUILDING
      Ludlow St, Dayton, OH 45402
      View Details
    • Value Estimation by Request
      0.08 Acres

      Zeigler St

      MEDICAL BUILDING
      Zeigler St, Dayton, OH 45402
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    • Value Estimation by Request
      0.05 Acres

      Ludlow St

      MEDICAL BUILDING
      Ludlow St, Dayton, OH 45402
      View Details
    • Value Estimation
      $5,885,000
      76,769 SF

      1222 Patterson Blvd

      MEDICAL BUILDING
      1222 Patterson Blvd, Dayton, OH 45402-2684
      View Details

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    111 1St St
    Dayton, OH 45402
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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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