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Property profile & analytics
OFF-MARKET
Estimated value
$6,200,000
Industrial properties
340 1st St Dayton, OH 45402-1250
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US66-2949475
Property summary
AI-generated overview
The Delco, a Dayton landmark formerly known as Mendelsons, offers exceptional office, retail, and restaurant spaces within the vibrant Water Street District. This historic building boasts a total of 20,000 to 26,000 square feet of available space, divided into four separate units, perfect for a variety of businesses. Its prime location provides unparalleled convenience and access to numerous amenities. Enjoy the walkability to Day Air Ballpark, Delco Lofts, the AC Hotel by Marriott, and a wide array of dining and entertainment options. The Delco is undergoing a complete renovation, ensuring modern facilities within a historically significant structure. This presents a unique opportunity to establish a presence in a thriving downtown Dayton area, benefiting from the high foot traffic and strong community engagement. The property is located in Montgomery County, Ohio, within the Dayton submarket. Multiple tenancies are available, making it ideal for businesses of various sizes and needs. The building's rich history and strategic location combine to create an exceptional investment opportunity. Contact us today to learn more about the available spaces and leasing options.
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1916
Total area
304,304 SF
Lot
2.44 ac (106,330 SF)
APN
R72 00705 0006
UPID
US66-2949475
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Water Street District Water Tower Tour Operator
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.46M
Blend (final)
Blend
$6.20M
Owner & transaction history
City Of Dayton · 4 yrs held
City Of Dayton
since 2021
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Dayton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Dayton submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$7,465,000
Current use
Blend value · Realmo final
$6.20M
Range $5.58M – $6.82M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$20 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$39
Tax year 2023
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1916
Heating
YES
Cooling
NONE
Stories
8
Total area
304,304 SF
Lot
2.44 ac (106,330 SF)
APN
R72 00705 0006
UPID
US66-2949475
Jurisdiction
MONTGOMERY
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$7.5M
INDUSTRIAL (GENERAL) Current
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1916
Heating
YES
Cooling
Yes
Stories
8
Lot
2.44 ac
Current owner
From public records · entity-resolved
City Of Dayton
Entity
Mailing address
6640 RIVERSIDE DR STE #500, DUBLIN, OH 43017-9534
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 9, 2021
—
City Of Dayton
Dayton Chy Acquisition II LLC
Intrafamily Transfer
related
—
Oct 1, 2019
$7,325,000
Dayton Chy Acquisition II LLC
Mendelson Realty Ltd
Grant Deed
$3,500,000 · Mendelson Realty Ltd
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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