4596 Old Troy PikeDayton, OH 45404

Property Details for 4596 Old Troy Pike

Year built

1959

Construction

FRAME

Lot size

0.42 AC

Property size (Sq ft)

1,588 SF

Property type

Retail properties

Property subtype

Auto shops

APN

I39 00802 0007

APU

I39008020007

Description

This exceptional investment opportunity presents a 1,588 square foot auto shop (lube & filter, service pits) in Dayton, Ohio. Located at 4596 Old Troy Pike, this single-tenant property boasts a strong 100% occupancy rate under a triple-net (NNN) lease with a remaining term of approximately 3.7 years. The current lease, commencing August 1, 2023, and expiring July 31, 2028, includes annual rent bumps of 3% and two five-year renewal options, also with rent increases. The property features two drive-in doors and work bays equipped with service pits, ideal for efficient operations. Situated on a signalized corner lot at the intersection of Old Troy Pike (SR 202) and Needmore Road, this location offers excellent visibility and accessibility, approximately 2 miles from I-75. The property's strong financials include a Net Operating Income (NOI) of $40,399, resulting in an attractive 8.24% cap rate. Built in 1959, the building is zoned C-auto, reflecting its suitability for automotive-related businesses. The asking price is $490,000, translating to $308.56 per square foot. This stabilized investment offers a compelling combination of strong cash flow, long-term lease security, and a prime location. This is a rare opportunity to acquire a well-established, high-performing auto shop in a desirable market.

• CAP approach

  CAP return

  Valuation

  6%

  $447,928

  6.5%

  $413,472

  7%

  $383,938

• Comparable approach

  Method

  Valuation

  Relative Method

  $78,795

  Geo Method

  $78,795

• Alternative Use

  Use

  Valuation

  Residential

  $348,779

  Hospitality

  $319,480

  Educational

  $265,803

  Medical

  $274,945

  Retail

  $413,472

Location Insight

City

Dayton

County

Montgomery

State

Ohio

Latitude

39.8213

Longitude

-84.1449

CBSA code

19430

CBSA name

DAYTON-KETTERING, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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