Renovated Vintage Building in Downtown
28 W Canal St, Troy, OH
Call to check price and availability
Turn-key, renovated two-story building in Troy's Historic Downtown.
Type:RETAIL
Property size:
2,059 SFLot size:
0.06 AcresPrice / SF:
$126/SF- Added:
- Nov 24, 2025
- Days on Market:
- 174
- Last Refresh:
- Apr 5 at 8:15 pm
Property Features for 28 W Canal St
General Information
- Standard status
- Active
- Size
- 2,059 SF
- Lot size
- 0.06 Acres
- Property subtype
- RETAIL
Listing agent Mary E Couser (937) 216-0922
Listing office Galbreath REALTORS (937) 216-0922
Listing date Nov 24, 2025
Source Moodyscre
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 Galbreath REALTORS
HighLights
- Located in Troy's B‑3 Central Business District with 4 Parcels of Ground Totaling 0.2513 of an Acre, offering potential commercial use.
- Turn‑key ready and beautifully renovated, blending old‑world charm with updated amenities.
- Grand primary 1st‑floor bedroom with walk‑in closet and a 13x13 bathroom including laundry nook.
- Spacious remodeled kitchen with white cabinets and stainless steel appliances.
- Energy‑efficient dual Trane HVAC systems and water heater installed in 2021.
- Roof and vinyl replacement windows installed in 2018.
Overview
This renovated two-story building is located in the heart of historic downtown Troy. Situated within Troy's B-3 Central Business District, the property includes four parcels of ground totaling 0.2513 acres. The building features spacious rooms, original woodwork, a staircase, and built-ins. The remodeled kitchen includes white cabinets and stainless steel appliances. The first floor features a primary bedroom with a walk-in closet and a 13x13 bathroom with a nook for a combination washer/dryer unit. The second floor offers three bedrooms and a 7x13 bathroom with a shower. The full basement includes three unfinished rooms and two storage areas. Energy-efficient dual Trane HVAC systems and a water heater were installed in 2021. The roof and vinyl replacement windows were updated in 2018. The property offers old-world charm with updated amenities. The building has 2,059 square feet of space.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$257.9K
NOI $23,210 @ 9.00% cap · cautious / downside scenario
Moderate
$331.6K
NOI $23,210 @ 7.00% cap · market / base-case scenario
Aggressive
$464.2K
NOI $23,210 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $41.3k | $20.04 |
| − Vacancy | −$10.3k | −$5.01 |
| EGI | $30.9k | $15.03 |
| − OpEx | −$7.7k | −$3.76 |
| NOI | $23.2k | $11.27 |
2,059 SF · lease $20.04/SF/yr · vacancy 25.00% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$331.6K
$290.1K – $386.8K
NOI $23,210 @ 7.0% cap · market cap 8.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$419.6K
$367.2K – $489.6K
NOI $29,375 @ 7.0% cap · market cap 11.30%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Office Units
Location Insight
- Map
- Local Demand
- City
- Troy
- County
- Miami
- State
- Ohio
- Longitude
- -84.2057644
- Latitude
- 40.0380204
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FAQs
What type of property is this?
Office units - Turn-key, renovated two-story building in Troy's Historic Downtown.
Where is this office units located?
The property is located at 28 W Canal St Troy, OH.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: Located in Troy's B‑3 Central Business District with 4 Parcels of Ground Totaling 0.2513 of an Acre, offering potential commercial use.; Turn‑key ready and beautifully renovated, blending old‑world charm with updated amenities.; **Grand primary 1st‑floor bedroom with walk‑in closet and a 13x13 bathroom including laundry nook.**
