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    28 W Canal St Troy, OH 45373

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    Sponsored
    For Sale
    $259,900

    COMMERCIAL - Other - Troy, OH

    Property size:
    2,059 SF
    Lot size:
    0.06 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 28 at 11:06 am

    Property Features for 28 W Canal St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Window features
    Window Coverings
    APN
    D08011550
    Patio and Porch features
    Porch, Deck
    Interior features
    Walk-In Closet(s), Ceiling Fan(s)
    Fencing
    Fenced
    Fireplace
    1
    Basement
    Full, Unfinished
    Appliances
    Dishwasher, Disposal, Dryer, Microwave, Range, Refrigerator, Washer
    Size
    2,059 SF
    Lot size
    0.06 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1920
    Flooring type
    Wood
    Building materials
    Asbestos
    Architectural style
    Other

    We can help!

    Listing Contact
    Mary E. Couser

    Galbreath Realty Service, Inc.

    Listing agent Mary E. Couser

    Listing date Mar 27, 2026

    MLS# 1044559

    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.

    Learn more

    Property Insight Report

    Overview

    Renovated Vintage Home in Downtown Troy

    Located in the heart of historic downtown Troy, this beautifully renovated vintage 2-story home offers old-world charm with updated amenities. Situated in Troy's B-3 Central Business District, the property consists of 4 parcels totaling 0.2513 acres. The home features spacious rooms, original woodwork, a staircase, and built-ins. The remodeled kitchen includes white cabinets and stainless steel appliances. The first floor features a primary bedroom with a walk-in closet and a bathroom with a nook for a combination washer/dryer unit. The second floor offers 3 bedrooms and a bathroom with a shower. The full basement includes 3 unfinished rooms and 2 storage areas. Energy-efficient dual Trane HVAC systems and a water heater were installed in 2021. The roof and vinyl replacement windows were updated in 2018, and the exterior was painted in 2016. Electrical and plumbing updates have been completed. The property includes a rear deck and a large fenced yard with landscaping including arborvitaes, roses, wisteria, climbing hydrangeas, and cherry trees. The location provides walking access to restaurants, stores, concerts, festivals, and the Cherry Street Farmers Market. It is also close to the Miami River, parks, the Hobart Area, the Aquatic Park, and bike paths. The property has AES electric averaging $87/month, CenterPoint gas at $65/month, and City of Troy water, sewer, trash & recycling at $68/month. The property size is 2059 square feet and the lot size is 0.06 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Troy
    County
    Miami
    State
    Ohio
    Longitude
    -84.205811
    Latitude
    40.037942

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    FAQs

    What type of property is this?
    Mixed-use property - Turn-key, renovated 2-story home in Troy's historic downtown.
    Where is this mixed-use property located?
    The property is located at 28 W Canal St Troy, OH.
    What is the asking price?
    The asking price for this property is $259,900.
    What are key features of this property?
    This property features: - Located in Troy's B-3 Central Business District offering both residential and commercial potential on 0.2513 acres.; - **Completely renovated with updated amenities including a remodeled kitchen with stainless steel appliances, updated electrical and plumbing, and energy-efficient dual Trane HVAC systems (2021).**; - Spacious layout featuring a grand primary first-floor bedroom with a walk-in closet and a 13x13 bathroom, plus three additional large bedrooms on the second floor.
    (937) 339-0508
    Request Owner's contact information
    28 W Canal St Troy, OH 45373
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    Troy, OH 45373
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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
    28 W Canal St Troy, OH 45373
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    Listing Contact
    Mary E. Couser
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