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    Downtown Piqua Commercial Space Title is generated by Realmo AI

    116 W Ash Street, Piqua, OH 45356

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    For Lease
    $1,200/Mo $5 SF/Yr (calc)

    COMMERCIAL - Piqua, OH

    Property size:
    2,592 SF
    Added:
    Apr 16, 2026
    Days on Market:
    47
    Last Refresh:
    Jun 1 at 7:06 pm

    Property Features for 116 W Ash Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Parking
    2
    Parking features
    Parking Lot
    Standard status
    Active
    APN
    N44001700
    Size
    2,592 SF

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Heat Pump (Heating), Forced Air
    Cooling system
    Heat Pump, Central Air

    Building Details

    Year built
    1920
    Flooring type
    Wood
    Building materials
    Brick

    We can help!

    Listing Contact
    Laura Beth Penrod

    Listing agent Laura Beth Penrod

    Listing office McVety Realty 222 W Ash St., Piqua, OH

    Listing date Apr 16, 2026

    MLS# 1045015

    Copyright © 2026 West Metro Board of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • High‑visibility location on West Ash St. (US 36) in downtown Piqua.
    • Large storefront window and open space with hardwood floors suitable for various uses.
    • Public street parking in front and public parking lot across the street, plus employee parking in rear.
    • Separate storage/work room and half bath.
    • Potential for expansion if additional space is needed.
    • Owner willing to discuss modifications to suit tenant use.

    Overview

    This commercial space for lease, situated on West Ash Street (US 36) in downtown Piqua, offers great visibility and location. The property features a large storefront window and an open space with hardwood floors, suitable for various uses such as retail, office, specialty, or professional services, along with workshop or storage space. It includes a separate storage or work room and a half bath. There is potential for expansion if additional space is needed. The owner is open to discussing modifications to suit tenant use. Public street parking is available in front, with a public parking lot located immediately across the street. Employee parking is provided in the rear. The available space is 2592 square feet. A minimum one-year lease and deposit are required. The tenant is responsible for their own utilities. An application is required and is subject to owner review and approval.
    Property Profile Location Intelligence

    Current Use by Public Records

    R Pets (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Piqua
    County
    Miami
    State
    Ohio
    Longitude
    -84.240383
    Latitude
    40.149948

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    FAQs

    What type of property is this?
    Retail space - Commercial space for lease in downtown Piqua with great visibility.
    Where is this retail space located?
    The property is located at 116 W Ash Street Piqua, OH.
    What is the lease rate?
    The lease rate is $1,200 /Mo.
    What are key features of this property?
    This property features: High‑visibility location on West Ash St. (US 36) in downtown Piqua.; Large storefront window and open space with hardwood floors suitable for various uses.; Public street parking in front and public parking lot across the street, plus employee parking in rear.
    (937) 773-8215
    We can help!
    Listing Contact
    Laura Beth Penrod
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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