Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Historic Troy Development Opportunity Title is generated by Realmo AI

    112-118 West Main Street, Troy, OH 45373

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,590,000

    Unique property with recent renovations in downtown Troy's DORA district.

    Type:Retail
    Property size:
    16,850 SF
    Price / SF:
    $94/SF
    Added:
    Nov 21, 2025
    Days on Market:
    182
    Last Refresh:
    Apr 5 at 10:41 pm

    Property Features for 112-118 West Main Street

    General Information

    Standard status
    Active
    Size
    16,850 SF
    Property subtype
    Retail

    We can help!

    Listing Contact
    Scott Kaster
    Scott Kaster

    Listing agent Scott Kaster License #OH #SAL.2009000788

    Listing office NAI Bergman

    Listing date Nov 21, 2025

    Source Naiglobal

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of NAI Bergman

    HighLights

    • Unique development opportunity in downtown Troy's DORA district.
    • Recent restoration includes new roof, commercial Pella windows/doors, and brick tuckpointing.
    • Interior is demoed, providing a blank slate for customization.
    • Includes a liquor license.
    • Private off‑street parking.
    • Architectural drawings available to aid in development.

    Overview

    The Odd Fellows building, formerly the Miami County Courthouse, presents a unique development opportunity in downtown Troy, situated across from the current Miami County Courthouse and within the Designated Outdoor Refreshment Area (DORA) district. The 16,850-square-foot property has undergone significant restoration, featuring a new roof, new commercial Pella windows and doors, and complete brick tuckpointing. The interior has been demoed, providing a blank slate for the new owner's vision. Architectural drawings are available to assist in the development process. The property includes private off-street parking in the rear and a liquor license. This property offers potential business opportunities and incentives through the city of Troy.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Troy
    County
    Miami
    State
    Ohio
    Longitude
    -84.202
    Latitude
    40.0389

    Nearby Similar for Sale

    • $275,000
      1,516 SF

      Charming Live/Work Commercial Property

      Historic live/work space near downtown Troy, excellent visibility.
      9 E Canal Street, Troy, OH 45373
      View Details
    • $199,000
      13,650 SF

      Former Car Wash in Troy

      Prime location near hospital, ideal for redevelopment or service business.
      103 S Elm Street, Troy, OH 45373
      View Details
    • $235,000
      2,542 SF

      Updated Duplex Investment Opportunity

      Move-in ready duplex with income potential in Troy, Ohio.
      321-323 S Short Street, Troy, OH 45373
      View Details
    • $249,900
      1,560 SF

      Commercial Property in High Traffic Area

      Commercial property in Troy, Ohio, with high traffic and visibility.
      2065 S County Road 25a, Troy, OH 45373
      View Details
    • $250,000
      1,962 SF

      Renovated Commercial Property in Troy

      Versatile, fully renovated commercial property with flexible workspace and modern amenities.
      708 N Market, Troy, OH 45373
      View Details
    • $134,900
      1,737 SF

      Troy Multifamily Investment Opportunity

      Two-unit multifamily property in Troy, Ohio, near amenities and parks.
      821 Mckaig Avenue, Troy, OH 45373
      View Details
    • $259,900
      2,059 SF

      Renovated Vintage Home in Downtown Troy

      Turn-key, renovated 2-story home in Troy's historic downtown.
      28 W Canal Street, Troy, OH 45373
      View Details
    • $219,900
      1,783 SF

      Troy Multi-Family Income Property

      Multi-family residence in Troy with income potential and accessibility.
      317 W Market Street, Troy, OH 45373
      View Details
    • $164,900
      1,772 SF

      Troy Multifamily Investment Opportunity

      Two-unit multifamily property in Troy, Ohio, ideal for investment.
      514 S Walnut Street, Troy, OH 45373
      View Details
    • $1,619,640
      5,612 SF

      Freestanding Veterinary Service Investment Property

      NNN leased veterinary property with long-term tenant in Troy, Ohio.
      500 Stonyridge Ave, Troy, OH 45373
      View Details
    • $1,300,000
      8,232 SF

      Downtown Troy Restaurant/Brewery Opportunity

      Remodeled restaurant/brewery with commercial kitchen, brewing facility, and outdoor seating.
      214 W Main St, Troy, OH 45373
      View Details
    • $259,900
      2,059 SF

      Renovated Vintage Building in Downtown Troy

      Turn-key, renovated two-story building in Troy's Historic Downtown.
      28 W Canal St, Troy, OH
      View Details

    FAQs

    What type of property is this?
    Storefront property - Unique property with recent renovations in downtown Troy's DORA district.
    Where is this storefront property located?
    The property is located at 112-118 West Main Street Troy, OH.
    What is the asking price?
    The asking price for this property is $1,590,000.
    What are key features of this property?
    This property features: Unique development opportunity in downtown Troy's DORA district.; Recent restoration includes new roof, commercial Pella windows/doors, and brick tuckpointing.; Interior is demoed, providing a blank slate for customization.
    (937) 673-4366
    We can help!
    Listing Contact
    Scott Kaster
    Scott Kaster
    Real Estate License ID: OH #SAL.2009000788
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    112-118 West Main Street, Troy, OH 45373
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!