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    Renovated Retail/Office Space Available Title is generated by Realmo AI

    301 Kienle Dr, Piqua, OH 45356

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    Renovated space near US-36 with ample parking.

    Type:Office
    Property size:
    10,700 SF
    Lot size:
    2.50 Acres
    Added:
    Sep 19, 2023
    Days on Market:
    987
    Last Refresh:
    May 12 at 10:06 pm

    Property Features for 301 Kienle Dr

    General Information

    Standard status
    Active
    Size
    10,700 SF
    Lot size
    2.50 Acres
    Property subtype
    Office

    Building Details

    Year Built
    1984

    Spaces For Lease

    at 301 Kienle Dr Contact us

    $7/Mo

    Size
    4,000 SF
    Type
    Office
    Contact us

    We can help!

    Listing Contact
    Steven Speranza

    Listing agent Steven Speranza License #OH 2000008818

    Listing office Ascent Real Estate Advisors LLC

    Listing date Sep 19, 2023

    Source Crexi

    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 Ascent Real Estate Advisors LLC

    HighLights

    • Prime location one parcel off US‑36 at a signalized intersection shared with Wal‑Mart & Home Depot.
    • Large 2.5‑acre site with 225+ parking spaces.
    • Recently renovated facade, exteriors, and veterinary clinic space (2022‑2023).
    • 4,000 +/- SF second‑generation Suite B available with open floor plan and existing restrooms.
    • Ample frontage for signage to reach the intersection.
    • Potential for up to 6 months free rent.

    Overview

    This property, home to the Cornerstone Veterinary Clinic, features a recently renovated facade and exterior from 2022-2023. Constructed in 1984, the building totals approximately 10,700 square feet and is situated on a 2.5-acre site with over 225 parking spaces. Located one parcel off of US-36 at a signalized intersection shared with Wal-Mart and Home Depot, the site provides a regional draw to Miami County and Northern Montgomery County, with ample frontage for signage to reach the intersection. Suite A houses the Cornerstone Veterinary Clinic, which was also completely renovated in 2022-2023 into a Class A + Veterinary Clinic. Suite B offers approximately 4,000 square feet of second-generation space with partial demolition completed to provide a raw shell starting point. The space provides an open floor plan with existing restrooms and other plumbing. The property is also accessible from Garbry Rd. The intended use of the property is for commercial real estate, medical office space, office properties and spaces, retail space, and retail properties and spaces.
    Property Profile Location Intelligence

    Current Use by Public Records

    Cornerstone Veterinary Clinic Veterinary Clinic

    Suggested Use

    Real Estate Agency Law Firm Spa & Massage Center Restaurant Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Cornerstone Veterinary Clinic — 301 Kienle Dr, Piqua, OH 45356

    Location Insight

    • Map
    • Local Demand
    City
    Piqua
    County
    Miami
    State
    Ohio
    Longitude
    -84.2087852
    Latitude
    40.1493938

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    FAQs

    What type of property is this?
    Medical Office Space - Renovated space near US-36 with ample parking.
    Where is this medical office space located?
    The property is located at 301 Kienle Dr Piqua, OH.
    What is the lease rate?
    The lease rate is $7 SF/Yr.
    What are key features of this property?
    This property features: Prime location one parcel off US‑36 at a signalized intersection shared with Wal‑Mart & Home Depot.; Large 2.5‑acre site with 225+ parking spaces.; Recently renovated facade, exteriors, and veterinary clinic space (2022‑2023).
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Steven Speranza
    Real Estate License ID: OH 2000008818
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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