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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1884 Main St, Unit 888 Troy, OH 45373-2304

    • Strip malls
    • 9,000 SF
    • 0.82 lot acres
    OFF-MARKET
    Value Estimations
    $345,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2288308
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Sherwin-Williams Paint Store / Paint Manufacturer / Painting

    Property Details for 1884 Main St

    Year built
    1990
    Lot size
    0.82 lot acres
    Property size
    9,000 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    D08-099876
    APU
    D08099876

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $350,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $341,000
      Market price range: $263k - $461k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $320,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $535,000
      Change: +68% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Troy
    County
    Miami
    State
    Ohio
    Longitude
    -84.2395
    Latitude
    40.0547
    CBSA code
    19430
    CBSA name
    DAYTON-KETTERING, OH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $14,651
    $87,190
    $168,210
    $255,400
    -
    $249,100
    $480,600
    $729,700

    Comparable in this City

    • Value Estimation
      $240,000
      0.14 Acres

      Smith St

      SHOPPING CENTER, STRIP CENTER • 0.14 Acres
      Smith St, Troy, OH 45373
      View Details
    • Value Estimation
      $485,000
      10,332 SF

      1731 Main St, Unit 1741

      SHOPPING CENTER, STRIP CENTER • 10,332 SF
      1731 Main St, Troy, OH 45373-2301
      View Details
    • Value Estimation
      $405,000
      8,400 SF

      2301 Main St, Unit 2307

      SHOPPING CENTER, STRIP CENTER • 8,400 SF
      2301 Main St, Troy, OH 45373-8484
      View Details
    • Value Estimation
      $220,000
      6,400 SF

      2784 Stone Cir Dr, Unit 90

      SHOPPING CENTER, STRIP CENTER • 6,400 SF
      2784 Stone Cir Dr, Troy, OH 45373-9325
      View Details
    • Value Estimation
      $575,000
      11,200 SF

      2309 Main St, Unit 2317

      SHOPPING CENTER, STRIP CENTER • 11,200 SF
      2309 Main St, Troy, OH 45373-8484
      View Details
    • Value Estimation
      $580,000
      14,494 SF

      761 Market St, Unit 779

      SHOPPING CENTER, STRIP CENTER • 14,494 SF
      761 Market St, Troy, OH 45373-3072
      View Details

    Similar Nearby for Sale

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      Commercial Property in High Traffic Area

      Commercial property in Troy, Ohio, with high traffic and visibility.
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      Downtown Troy Retail/Office Condos

      Retail or office condos in historic downtown Troy building.
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      Retail Property in Troy, Ohio

      Retail property for sale in Troy, Ohio, with 4296 square feet.
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      Neighborhood Store with Inventory Included

      Commercial property with business, inventory, and diverse offerings for sale.
      249 Union St, Troy, OH 45373
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    • $1,400,000
      8,232 SF

      Downtown Troy Restaurant/Brewery Opportunity

      Remodeled restaurant/brewery with commercial kitchen, brewing facility, and outdoor seating.
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    • $1,590,000
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      Historic Troy Development Opportunity

      Unique property with recent renovations in downtown Troy's DORA district.
      112-118 West Main St, Troy, OH 45373
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    Similar Nearby for Lease

    • Contact for pricing
      1,720 SF

      Retail Space in Troy Towne

      1,720 SF available in premier Troy shopping center.
      1801 W Main St, Troy, OH 45373
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    • Contact for pricing
      4,840 SF

      Retail Space Near I-75 Exit

      Retail space with high visibility and ample parking available for rent.
      1420-1530 W Main St, Troy, OH 45373
      View Details
    • $26,400
      1,500 SF

      Downtown Troy Retail Space

      Historic building, 1500 sq ft, prime location.
      107 Main St, Troy, OH 45373
      View Details
    • Contact for pricing
      652 SF

      Meijer In-Store Retail Space

      652 SF Retail Space in Miami County
      1900 Main St, Troy, OH 45373
      View Details
    • $16 SF/Yr
      1,400 SF

      Retail Space on West Main

      Retail space available for lease on West Main Street.
      2315-2317 W Main St, Troy, OH 45373
      View Details
    • $3,500 /Mo
      5,000 SF

      Industrial Building Near I-75

      5,000 SF industrial building with dock and drive-ins for rent.
      645 Olympic Dr, Troy, OH 45373
      View Details
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    1884 Main St, Unit 888
    Troy, OH 45373-2304
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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.

    More about this property
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