Two-Story Office
228 W ASH ST Piqua, OH 45356
228 W ASH ST, Piqua, OH, 45356
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For Sale
Contact for pricing
Freestanding two-floor office with carpeted offices, kitchenette, two restrooms, and included first-floor furniture.
Property Size3,095 SF
Price / SF$134.09
Days on Market91
Property Features for 228 W ASH ST
General Information
- Standard status
- Active
- Size
- 3,095 SF
- Property subtype
- Office, Mixed Use
Building Details
- Year Built
- 1864
Listing agency
IPB Industrial Property Brokers
Listed by
Tim Echemann CCIM SIOR · License #OH 0000359250
Source
Crexi
Added: Apr 23 Updated: Jul 21 at 9:19PM Checked: Jul 21 at 9:19PM
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 IPB Industrial Property Brokers
Investment Insights
Based on property information with market context.
This fully updated, freestanding office building offers 3,095 SF across two floors and is designed for immediate occupancy. The interior includes carpeted office spaces, a kitchenette, and two restrooms. First-floor furniture is included, and the property has undergone renovations in 2012 and 2018. A new first-floor furnace was installed in 2025.
The building is located on a paved road with both on- and off-street parking, along with a large adjacent lot. The remarks note the property is just minutes from I-75.
With its two-story layout and multiple office rooms, the space can support a range of day-to-day professional office operations while keeping tenant flow straightforward across the first and second floors.
The building is located on a paved road with both on- and off-street parking, along with a large adjacent lot. The remarks note the property is just minutes from I-75.
With its two-story layout and multiple office rooms, the space can support a range of day-to-day professional office operations while keeping tenant flow straightforward across the first and second floors.
Key Highlights
- Freestanding two‑floor office at 228 W Ash St, Piqua, built in 1864
- 3,095 SF office space with carpeted offices across two floors
- Move‑in ready with a kitchenette, two restrooms, and included first‑floor furniture
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $62.0k | $20.04 |
| − Vacancy | −$15.5k | −$5.01 |
| EGI | $46.5k | $15.03 |
| − OpEx | −$11.6k | −$3.76 |
| NOI | $34.9k | $11.27 |
3,095 SF · lease $20.04/SF/yr · vacancy 25.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$498.4K
$436.1K – $581.5K
NOI $34,888 @ 7.0% cap · market cap 8.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$630.8K
$551.9K – $735.9K
NOI $44,155 @ 7.0% cap · market cap 10.64%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Justin R Wurster ...
Financial Advisor
Cole Graeser - Associate ...
Financial Advisor
Mullenbrock & Associates - Ameriprise ...
Financial Advisor
Christine J Hulme ...
Financial Advisor
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FAQs
What type of property is this?
Office building - Freestanding two-floor office with carpeted offices, kitchenette, two restrooms, and included first-floor furniture.
Where is this office building located?
The property is located at 228 W ASH ST Piqua, OH.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: Freestanding two‑floor office at 228 W Ash St, Piqua, built in 1864; 3,095 SF office space with carpeted offices across two floors; Move‑in ready with a kitchenette, two restrooms, and included first‑floor furniture
