8-Unit Apartment
New
For Sale
$650,000
701 S Wayne St, Piqua, OH 45356
Eight apartments are arranged across two buildings on a single parcel.
Property Size3,666 SF
Lot Size0.27 Acres
Days on Market2
Property Features for 701 S Wayne St
General Information
Standard status
Active
Size
3,666 SF
Lot size
0.27 Acres
Property subtype
Multifamily
Additional Details
Multifamily Units
8
Amenities
Every 2026 Lease Signed at the Full Asking Rent
The Asking Schedule is Up 7.8 Percent Since April
The Heavy Capital is Done
Every Lease on the Roll Runs into 2027
Nothing is Being Built to Compete
Building Details
Building Size
3,666 SF
Year Built
1920
Buildings
2
Units
8
Listing Agency:
Cincinnati Office
Listed By:
Austin Sum · License #License(s): OH: SAL.2017001472
(513) 878-7747
Source:
Marcusmillichap
Added: Oct 14
Changed: Oct 15
Last Checked: Oct 15 at 2:25AM
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 Cincinnati Office
Investment Insights
Based on property information with market context.
The property contains eight apartment units in two buildings on a 0.27-acre parcel. Both buildings date to 1920.
Key Highlights
- Eight apartments across two buildings
- 0.27‑acre parcel
- Buildings constructed in 1920
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,957
Cap Rate
4.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$579,140
$579.1K
Cap Rate 7%
$413,671
$413.7K
Cap Rate 9%
$321,744
$321.7K
Market Conditions
NOI Build-Up for 3,666 SF
Gross rent
$56.3K $15.36/SF
− Vacancy
−$3.7K −$1.00/SF
EGI
$52.6K $14.36/SF
− OpEx
−$23.7K −$6.46/SF
NOI
$29.0K $7.90/SF
Area
Miami County, OH
Vacancy
6.50%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$579,140
Cap Rate 7%
$413,671
Cap Rate 9%
$321,744
Alternative Uses
Best Use
Apartment 5plus
$413.7K
$362.0K – $482.6K
NOI $28,957 @ 7.0% cap · market cap 4.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$747.2K
$653.8K – $871.7K
NOI $52,301 @ 7.0% cap · market cap 8.05%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
230
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 Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - Eight apartments are arranged across two buildings on a single parcel.
Where is this apartment building located?
The property is located at 701 S Wayne St Piqua, OH.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Eight apartments across two buildings; 0.27‑acre parcel; Buildings constructed in 1920
