Renovated Vintage Home in Downtown
28 W Canal Street, Troy, OH 45373
COMMERCIAL - Other - Troy, OH
Property size:
2,059 SFLot size:
0.06 AcresPrice / SF:
$126/SF- Added:
- Mar 27, 2026
- Days on Market:
- 51
- Last Refresh:
- May 16 at 5:06 pm
Property Features for 28 W Canal Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Window features
- Window Coverings
- Patio and Porch features
- Deck, Porch
- Interior features
- Walk-In Closet(s), Ceiling Fan(s)
- Fencing
- Fenced
- Fireplace
- 1
- Basement
- Unfinished, Full
- Appliances
- Dishwasher, Disposal, Dryer, Microwave, Range, Refrigerator, Washer
- Standard status
- Active
- APN
- D08011550
- Size
- 2,059 SF
- Lot size
- 0.06 Acres
Taxes and HOA fees
- Tax Year
- 2024
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Forced Air
- Cooling system
- Central Air
Building Details
- Year built
- 1920
- Flooring type
- Wood
- Building materials
- Asbestos
- Architectural style
- Other
Listing agent Mary E. Couser (937) 339-0508
Listing office Galbreath REALTORS 1026 W Main St., Troy, OH (937) 339-0508
Listing date Mar 27, 2026
MLS# 1044559
Copyright © 2026 West Metro Board of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Located in Troy's B‑3 Central Business District offering both residential and commercial potential on 0.2513 acres.
- Completely renovated with updated amenities including a remodeled kitchen with stainless steel appliances, updated electrical and plumbing, and energy‑efficient dual Trane HVAC systems (2021).
- Spacious layout featuring a grand primary first‑floor bedroom with a walk‑in closet and a 13x13 bathroom, plus three additional large bedrooms on the second floor.
- Large, fenced yard with mature landscaping, a rear deck, and the potential to build a garage.
- Prime location in the heart of historic downtown Troy, within walking distance to restaurants, stores, concerts, festivals, and the Cherry Street Farmers Market.
- Original architectural details such as woodwork, staircase, and built‑ins, combined with modern updates.
Overview
Located in the heart of historic downtown Troy, this beautifully renovated vintage 2-story home offers old-world charm with updated amenities. Situated in Troy's B-3 Central Business District, the property consists of 4 parcels totaling 0.2513 acres. The home 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 bathroom with a nook for a combination washer/dryer unit. The second floor offers 3 bedrooms and a bathroom with a shower. The full basement includes 3 unfinished rooms and 2 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, and the exterior was painted in 2016. Electrical and plumbing updates have been completed. The property includes a rear deck and a large fenced yard with landscaping including arborvitaes, roses, wisteria, climbing hydrangeas, and cherry trees. The location provides walking access to restaurants, stores, concerts, festivals, and the Cherry Street Farmers Market. It is also close to the Miami River, parks, the Hobart Area, the Aquatic Park, and bike paths. The property has AES electric averaging $87/month, CenterPoint gas at $65/month, and City of Troy water, sewer, trash & recycling at $68/month. The property size is 2059 square feet and the lot size is 0.06 acres.
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
Mixed Use
$297.8K
$260.6K – $347.5K
NOI $20,847 @ 7.0% cap · market cap 8.02%
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
Single family properties
Location Insight
- Map
- Local Demand
- City
- Troy
- County
- Miami
- State
- Ohio
- Longitude
- -84.205811
- Latitude
- 40.037942
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Turn-key, renovated 2-story home in Troy's historic downtown.
Where is this mixed-use property located?
The property is located at 28 W Canal Street 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 offering both residential and commercial potential on 0.2513 acres.; **Completely renovated with updated amenities including a remodeled kitchen with stainless steel appliances, updated electrical and plumbing, and energy‑efficient dual Trane HVAC systems (2021).**; Spacious layout featuring a grand primary first‑floor bedroom with a walk‑in closet and a 13x13 bathroom, plus three additional large bedrooms on the second floor.
