Retail Storefront
For Sale
Contact for pricing
407 Peters Ave, Troy, OH 45373
For sale retail storefront building with 4,296 square feet on a lot under one-half acre.
Property Size4,296 SF
Price / SF$104.75
Days on Market725
Property Features for 407 Peters Ave
General Information
Standard status
Active
Size
4,296 SF
Property subtype
RETAIL
Listing Agency:
Coldwell Banker - Heritage | Troy
(937) 524-6077
Listed By:
Richard Pierce · License #2005000431
(937) 524-6077
Source:
Moodyscre
Added: Aug 15, 2024
Changed: Aug 8
Last Checked: Aug 8 at 1:51PM
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 Coldwell Banker - Heritage | Troy
Investment Insights
Based on property information with market context.
This for-sale retail storefront building offers approximately 4,296 square feet of space and is described as being 41–50 years old. The property is situated on a lot under one-half acre. Annual taxes are listed as $1,879.
The address is 407 Peters Ave, Troy, OH 45373. Public remarks also list Total Rooms as 0.
Additional details on interior layout, tenant improvements, or specific storefront features were not provided in the available information.
The address is 407 Peters Ave, Troy, OH 45373. Public remarks also list Total Rooms as 0.
Additional details on interior layout, tenant improvements, or specific storefront features were not provided in the available information.
Key Highlights
- Retail storefront building for sale with 4,296 SF
- Located on a lot under 1/2 acre
- Property age: 41–50 years old
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
$40,532
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
9.01%
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%
$810,640
$810.6K
Cap Rate 7%
$579,029
$579.0K
Cap Rate 9%
$450,356
$450.4K
Market Conditions
NOI Build-Up for 4,296 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
$61.9K $14.40/SF
− Vacancy
−$4.0K −$0.92/SF
EGI
$57.9K $13.48/SF
− OpEx
−$17.4K −$4.04/SF
NOI
$40.5K $9.43/SF
Area
Miami County, OH
Vacancy
6.40%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$810,640
Cap Rate 7%
$579,029
Cap Rate 9%
$450,356
Alternative Uses
Best Use
Retail
$579.0K
$506.7K – $675.5K
NOI $40,532 @ 7.0% cap · market cap 9.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$875.6K
$766.1K – $1.02M
NOI $61,289 @ 7.0% cap · market cap 13.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
351
Businesses Nearby
115k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 57%
Shops & Services 29%
Dining 8%
Home Improvements & Furnishings 3%
Kroger
Groceries
65,160 visits/mo
0.3 miles
Kroger Fuel Center
Shops & Services
17,178 visits/mo
0.3 miles
Dollar General
Shops & Services
7,848 visits/mo
0.4 miles
Waffle House
Dining
5,824 visits/mo
0.5 miles
Sunoco
Shops & Services
4,190 visits/mo
0.3 miles
Demographics for 45373, OH
36,863
Population
15,691
Households
2.3
Avg Household Size
41
Median Age
33%
College-Educated
93%
High-School Grad
87.7 sq mi
ZIP Area
420
Density / Sq Mi
$78,278
Median Household Income
$47,859
Median Earnings
$933
Median Rent
$234,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - For sale retail storefront building with 4,296 square feet on a lot under one-half acre.
Where is this retail space located?
The property is located at 407 Peters Ave Troy, OH.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Retail storefront building for sale with 4,296 SF; Located on a lot under 1/2 acre; Property age: 41–50 years old
