Four-Office Commercial
For Sale
$324,900
Pending
1200 Park Avenue, Piqua, OH 45356
Commercial Sale, Piqua, OH
Property Size1,218 SF
Lot Size0.15 Acres
Days on Market96
Property Features for 1200 Park Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
9
Directions
Located at the corner of Park Ave and Washington Ave
Subdivision
703 Piqua
Standard status
Pending
APN
N44025650
Size
1,218 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Building Details
Year built
1953
Building materials
Masonry
Listing Agency:
RE/MAX Alliance Realty Inc. · RE/MAX International
(937) 898-4400
Listed By:
Paolina Quafisi · License #0000376693
(937) 672-2504
Added: Jun 9
Changed: Sep 2
Last Checked: Sep 12 at 8:06AM
MLS# 1046251
Copyright © 2026 Western Regional Information System & Technology, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,218-square-foot office property provides four private offices within a practical commercial layout. The interior also includes a waiting and reception area, two storage rooms, and one restroom. Masonry construction dates to 1953, with natural gas forced-air heating and public sewer service.
The property occupies 0.15 acres at 1200 Park Avenue in Piqua, Ohio, and includes nine dedicated parking spaces. Its established office configuration and on-site parking support a range of professional business uses.
The property occupies 0.15 acres at 1200 Park Avenue in Piqua, Ohio, and includes nine dedicated parking spaces. Its established office configuration and on-site parking support a range of professional business uses.
Key Highlights
- Four private offices plus a waiting and reception area
- Two storage rooms and one restroom
- 1,218 square feet on a 0.15‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$13,730
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.23%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$274,600
$274.6K
Cap Rate 7%
$196,143
$196.1K
Cap Rate 9%
$152,556
$152.6K
Market Conditions
NOI Build-Up for 1,218 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$24.4K $20.04/SF
− Vacancy
−$6.1K −$5.01/SF
EGI
$18.3K $15.03/SF
− OpEx
−$4.6K −$3.76/SF
NOI
$13.7K $11.27/SF
Area
Miami County, OH
Vacancy
25.00%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$274,600
Cap Rate 7%
$196,143
Cap Rate 9%
$152,556
Alternative Uses
Best Use
Office B
$196.1K
$171.6K – $228.8K
NOI $13,730 @ 7.0% cap · market cap 4.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$248.2K
$217.2K – $289.6K
NOI $17,377 @ 7.0% cap · market cap 5.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
338
Businesses Nearby
Explore this area
Business Placement
Demographics for 45356, OH
25,106
Population
11,353
Households
2.2
Avg Household Size
41
Median Age
15%
College-Educated
89%
High-School Grad
75.5 sq mi
ZIP Area
333
Density / Sq Mi
$66,134
Median Household Income
$38,323
Median Earnings
$900
Median Rent
$144,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Masonry office property with reception space, storage, restroom, and dedicated parking for business operations.
Where is this office units located?
The property is located at 1200 Park Avenue Piqua, OH.
What is the asking price?
The asking price for this property is $324,900.
What are key features of this property?
This property features: Four private offices plus a waiting and reception area; Two storage rooms and one restroom; 1,218 square feet on a 0.15‑acre lot
