For Sale
$2,088,000

111 Front StDayton, OH 45402

SRS Distribution, 33,553 SF, 7.00% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
113
This exceptional investment opportunity presents a 33,553-square-foot industrial distribution facility located at 111 Front St, Dayton, OH 45402, situated on a 2.7-acre lot. The property boasts a strong corporate guarantee from SRS Distribution, a subsidiary of Home Depot (NYSE: HD), providing financial stability and security. The current lease, a Net Lease (NNN) agreement, commenced August 1, 2019, and has a remaining term of approximately five years, extending to October 31, 2029, with built-in 2.5% annual rent increases. The property features seven loading docks and three dock-high doors, enhancing operational efficiency. The building underwent renovations in 1965 and 1999, and most recently received a brand-new roof in 2024, complete with a 20-year warranty, minimizing future maintenance expenses. The property's Net Operating Income (NOI) is $146,154, yielding a 7.00% cap rate, based on an asking price of $2,088,000. The strategic Dayton location offers easy access to major interstates I-75 and I-70, providing convenient access to key Midwest markets. The land value is $17.75 per square foot, and the building's price per square foot is $62.23. This property represents a compelling investment opportunity in a thriving Midwest industrial market with a high-quality tenant and a long-term lease. The property's APN is R72-00810-0001. The 100% occupancy rate further solidifies its value.

Highlights

  • Investment-grade tenant, Home Depot (S&P: “A”), acquired SRS Distribution (the tenant) for $18.25B.
  • 33,553 SF industrial building on 2.7 acres with 28.53% lot coverage, ample outdoor storage, and a new roof (20-year warranty).
  • Five-year lease extension with SRS Distribution (commencing November 2024), including 2.5% annual rent increases.
  • Strategically located in Dayton, OH, offering access to major Midwest markets (Columbus, Cincinnati, Indianapolis) and interstates (I-75 & I-70).

Property Details for 111 Front St

Property type
Industrial properties, Distribution centers
Square Feet
33,553 SF
Year Renovated
1965
Lot Size (sq. ft)
117,612 SF

Location Insight

City
Dayton
County
Montgomery
State
Ohio
Latitude
39.7640335
Longitude
-84.1760707
111 Front St, Dayton, Ohio

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111 Front St
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