Markets · Dayton–Kettering, OH MSA

Dayton Industrial Market Report

Bluebird CRE Research · As of 2026 Q1 · Data: CoStar Group, www.costar.com

A logistics and advanced-manufacturing market on the I-70/I-75 crossroads with aerospace and defense anchors.

5.3%
Vacancy
$6.51/SF
Asking Rent
$5.73/SF
NNN Rent
1.5M SF
Net Absorption (12 mo)
1.4M SF
Under Construction
9.2%
Market Cap Rate

Asking Rent / SF

2016–2026

Now $6.51 · +4.3% YoY

Vacancy Rate

2016–2026

Now 5.3%

Net Absorption (12 mo)

2016–2026

Now 1.5M SF

Annual figures through 2026 Q1. Source: CoStar Group, www.costar.com.

Market overview

As of 2026 Q1, Dayton industrial vacancy stands at 5.3% with asking rents near $6.51/SF. The market absorbed 1.5M SF over the trailing year, and investment sale pricing implies roughly a 9.2% cap rate. Those are the figures that frame how we underwrite here.

Bluebird's read

A logistics and advanced-manufacturing market on the I-70/I-75 crossroads with aerospace and defense anchors. Bluebird targets functional small-bay and IOS product here at a basis below replacement cost, with leasing and mark-to-market as the value-add levers.

Economy

Population
820,906
Total employment
393,861
Industrial employment
56,495
Median HH income
$75,195

Key submarkets

  • • Vandalia / Airport
  • • Monroe / I-75
  • • Springboro
  • • Huber Heights

Representative tenants

  • • Amazon
  • • Procter & Gamble
  • • Caterpillar
  • • Wright-Patterson AFB

Explore other markets

Akron, OH
5.5% vacancy · $7.13/SF
Cincinnati, OH
4.8% vacancy · $7.53/SF
Cleveland, OH
4.3% vacancy · $6.71/SF

Market data sourced from CoStar Group, www.costar.com (as of 2026 Q1); figures are point-in-time estimates and forecasts are not guarantees. Provided for informational purposes only and not an offer to sell securities. Past performance does not guarantee future results.

Invest with Bluebird

Investments start at $25,000. Tell us about your goals. We’ll follow up within one business day.

Start a conversation