3214 Old Springfield RdVandalia, OH 45377

Property Details for 3214 Old Springfield Rd

Year built

2023

Property size (Sq ft)

97,600 SF

Property type

Industrial properties

Property subtype

Other warehouses

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.

Location Insight

City

Vandalia

County

Montgomery

State

Ohio

Latitude

39.9114

Longitude

-84.2289

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