Philly Engineer has a pretty good memory. I grew up in suburban Philly (Malvern) and now reside in Trotwood and prefer this less crowded lifestyle than has engulfed the Philly burbs.
I will clarify however the street name in that section is currently Main Street not Free Pike. The appliance store was named "Nofzinger Appliance Center," the Dairy Queen was owned by Ken Shank and other locals owned many of the other stores in the strip. As the national chains crept out Salem Av many of these mom and pops gave up.
It is my impression that the strip was originally developed larger than necessary to anticipate the continuation of the building boom that was underway at the time. However as you note many dead end subdivision streets have never been extended as the growth stopped about the time the 675 corridor (south and west of Dayton) took off.
The city planners have been talking extensively about the future of this strip and how it might be configured for the future. Presently both sides remain zoned for business but there is some consideration to allowing some parts to become residential. I look for good things to come of that.
As a side note, back in 1999 the zoning code in the agricultural areas was changed to slow down rural frontage development. I wish more counties in Ohio would consider the approach used here since it seems to be working. The new rule states subdivided agricultural lots can be no smaller than 20 acres. I think there has only been one since the change. Very few people want to have to mow 20 acres every week (5 is bad enough).
Nice job Jeffery and I'm still ready for that hot dog in Drexel!