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Office Medical

Kettering MOB

5250 Far Hills Ave, Dayton, OH 45429

Listing Price: $2,419,000

Cap Rate
8.84%
Gross SF
26,690
Rentable SF
26,690
Price/Gross SF
$90.63
Occupancy
90.7%
Year Built
1972
Lot Size
2.79 acres

Investment Overview

Marcus & Millichap is pleased to present the Kettering MOB at 5250 Far Hills Ave. A multi-tenant medical office building in Kettering, Ohio. Located less than 20 minutes south of downtown Dayton, Kettering MOB is strategically situated off State Highway 48, also known as Far Hills Ave. The property is within a 20-minute drive from the Dayton International Airport, Wright-Patterson Air Force Base, and the same drive time of the two major universities in the Dayton area, University of Dayton, and Wright State University. Kettering MOB is surrounded by ample amenities such as restaurants, shopping centers, and other medical facilities. Dayton, Ohio is located within 2 hours of Indianapolis, IN (116 Miles), Columbus, OH (71 Miles), and Cincinnati, OH (54 Miles). The city of Kettering is known as one of the more sought-after suburbs in the Dayton area, with a population of about 55,000. The city has proven to be one of the more affluent suburbs as well. Within a 3-mile radius of the subject property, the average household income is just under $95,000. The Kettering MOB has been well maintained by current ownership and provides strong historical occupancy. Currently 90.71% occupied and comprised of approximately 26,690 SF, including 2,480 SF of garage space, which is currently not being utilized. With 10 tenants in the building, Kettering MOB provides a healthy medical tenant base as well as a newly executed 10-year lease from Keller Williams. The Kettering MOB shows potential for value add in rental rates as the current market rent for medical office in the city of Kettering is just under $16.50/SF. The city of Kettering has historically shown to be a fantastic market for medical office space. With current vacancy rates just over 5%, they have never been higher than 8.5% in the past 10 years.

Investment Highlights

  • Multi-Tenant 26,690 SF Medical Office
  • 90.71% occupied | Value Add Potential with Strong in Place Cash Flow
  • Situated in the fantastic Medical Office Market of Kettering

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (216) 264-2000

    License(s) OH: BRK.2007005898

    Ohio

Office Medical

Kettering MOB

Listing Price: $2,419,000

Cap Rate
8.84%
Gross SF
26,690
Rentable SF
26,690
Price/Gross SF
$90.63
Occupancy
90.7%
Year Built
1972
Lot Size
2.79 acres

Investment Highlights

  • Multi-Tenant 26,690 SF Medical Office
  • 90.71% occupied | Value Add Potential with Strong in Place Cash Flow
  • Situated in the fantastic Medical Office Market of Kettering

Investment Overview

Marcus & Millichap is pleased to present the Kettering MOB at 5250 Far Hills Ave. A multi-tenant medical office building in Kettering, Ohio. Located less than 20 minutes south of downtown Dayton, Kettering MOB is strategically situated off State Highway 48, also known as Far Hills Ave. The property is within a 20-minute drive from the Dayton International Airport, Wright-Patterson Air Force Base, and the same drive time of the two major universities in the Dayton area, University of Dayton, and Wright State University. Kettering MOB is surrounded by ample amenities such as restaurants, shopping centers, and other medical facilities. Dayton, Ohio is located within 2 hours of Indianapolis, IN (116 Miles), Columbus, OH (71 Miles), and Cincinnati, OH (54 Miles). The city of Kettering is known as one of the more sought-after suburbs in the Dayton area, with a population of about 55,000. The city has proven to be one of the more affluent suburbs as well. Within a 3-mile radius of the subject property, the average household income is just under $95,000. The Kettering MOB has been well maintained by current ownership and provides strong historical occupancy. Currently 90.71% occupied and comprised of approximately 26,690 SF, including 2,480 SF of garage space, which is currently not being utilized. With 10 tenants in the building, Kettering MOB provides a healthy medical tenant base as well as a newly executed 10-year lease from Keller Williams. The Kettering MOB shows potential for value add in rental rates as the current market rent for medical office in the city of Kettering is just under $16.50/SF. The city of Kettering has historically shown to be a fantastic market for medical office space. With current vacancy rates just over 5%, they have never been higher than 8.5% in the past 10 years.

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (216) 264-2000

    License(s): OH: BRK.2007005898

    Ohio

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