3214 Old Springfield Rd Vandalia, OH 45377
- Warehouses
- 97,600 SF
Current Use by Public Records
- Warehouses
Property Details for 3214 Old Springfield Rd
- Year built
- 2023
- Property size
- 97,600 SF
- Property type
- Warehouses
- Property subtype
- Life science properties
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Vandalia
- County
- Montgomery
- State
- Ohio
- Longitude
- -84.2289
- Latitude
- 39.9114
