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    9711 Spiker Rd Piqua, OH 45356

    View on Map
    Sponsored
    For Sale
    $840,000

    LAND - Piqua, OH

    Property size:
    21,648 SF
    Lot size:
    17.02 Acres
    Days on Market:
    14
    Last Refresh:
    Mar 9 at 9:06 pm

    Property Features for 9711 Spiker Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    M40-023800
    Size
    21,648 SF
    Lot size
    17.02 Acres

    Utilities

    Sewer type
    Septic Tank
    Water source
    Well

    Building Details

    Additional Structures
    Outbuilding

    We can help!

    Listing Contact
    Wesley Moore

    Oakridge Realty Co. (419) 991-2020

    Listing agent Wesley Moore (937) 901-4939

    Listing date Feb 23, 2026

    MLS# 308695 Listing URL

    Copyright © 2026 West Central Association 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

    Turnkey Equestrian Boarding Facility

    This 18-acre equestrian boarding facility in Miami County offers a 21,648 sq ft operation built in 2007, designed for clinics, shows, or a boarding and training business. The facility includes 7 (12x12) stalls suitable for broodmares or stallions, plus 21 (11x10) stalls, all equipped with automatic waterers. There are 2 large and 2 small tack rooms. The 80x150 indoor arena features sifted dirt footing and lighting for year-round riding. Outdoors, there is a 120 x 180 fenced arena, 5 turnout grass pastures with vinyl coil tension fencing, and 2 no-touch stud pastures, plus 5 additional pastures, totaling 12 paddocks. A 2020 Priefert 4-stall panel walker is included. Additional features include 2 wash bays with hot and cold water, 2 hay lofts with a 900-bale capacity, a laundry room with a utility sink and hookups, and a lounge area off the arena. A spiral staircase leads to extra storage, which could be converted into a two-story viewing lounge. There is room for future expansion and a potential home site to the west of the building. A new manure storage area was installed in 2023. The property is located close to town and is secluded in the country, 1 hour and 20 minutes from the World Equestrian Center in Wilmington, OH, 50 minutes from Eaton, OH, and 45 minutes from Springfield, OH. Camper/RV hook-ups are available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Horse & equestrian properties

    Suggested Use

    HVAC Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Piqua
    County
    Miami
    State
    Ohio
    Longitude
    -84.292048
    Latitude
    40.180131

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    FAQs

    What type of property is this?
    Horse & equestrian property - 18-acre equestrian facility with indoor arena and boarding stalls.
    Where is this horse & equestrian property located?
    The property is located at 9711 Spiker Rd Piqua, OH.
    What is the asking price?
    The asking price for this property is $840,000.
    What are key features of this property?
    This property features: - Turnkey equestrian boarding facility on 18 acres, designed for clinics, shows, boarding, or training.; - Features a large 80x150 indoor arena with excellent footing and lighting, plus a 120x180 outdoor arena.; - Includes 28 stalls (7 at 12x12 and 21 at 11x10), all with automatic waterers, plus multiple tack rooms.
    (937) 901-4939
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    9711 Spiker Rd Piqua, OH 45356
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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
    9711 Spiker Rd Piqua, OH 45356
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    Listing Contact
    Wesley Moore
    (937) 901-4939
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