Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2309 Main St, Unit 2317 Troy, OH 45373-8484

    • Strip malls
    • 11,200 SF
    • 2.15 lot acres
    OFF-MARKET
    Last Sale
    Sep 30, 2020
    Value Estimations
    $575,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-6178144
    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

    • Tropical Smoothie Cafe / Health Food Restaurant / Juice Shop
    • Sawyer & Sons Electricians / Electrician / Electrical Installation Service

    Property Details for 2309 Main St

    Year built
    2000
    Lot size
    2.15 lot acres
    Property size
    11,200 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    D08-103648
    APU
    D08103648

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $575,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $573,000
      Market price range: $328k - $574k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $395,000
      Current use
      OFFICE BUILDING
      $940,000
      Change: +137% Conversion: Moderate
      RETAIL STORES
      $875,000
      Change: +120% Conversion: Easy
      MEDICAL BUILDING
      $850,000
      Change: +114% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $665,000
      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
    -84.2464
    Latitude
    40.059
    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
    $41,457
    $196,770
    $525,910
    $722,680
    -
    $562,200
    $1,502,600
    $2,064,800

    Comparable in this City

    • Value Estimation
      $2,090,000
      13,200 SF

      2361 Main St

      SHOPPING CENTER, STRIP CENTER • 13,200 SF
      2361 Main St, Troy, OH 45373
      View Details
    • Value Estimation
      $260,000
      4,320 SF

      13 Norwich Rd, Unit 31

      SHOPPING CENTER, STRIP CENTER • 4,320 SF
      13 Norwich Rd, Troy, OH 45373
      View Details
    • Value Estimation
      $990,000
      7,200 SF

      2820 Stone Cir Dr, Unit 2830

      SHOPPING CENTER, STRIP CENTER • 7,200 SF
      2820 Stone Cir Dr, Troy, OH 45373-9326
      View Details
    • Value Estimation
      $430,000
      9,000 SF

      1281 Dorset Rd, Unit 1293

      SHOPPING CENTER, STRIP CENTER • 9,000 SF
      1281 Dorset Rd, Troy, OH 45373
      View Details
    • Value Estimation
      $280,000
      4,563 SF

      28-34 Fossway

      SHOPPING CENTER, STRIP CENTER • 4,563 SF
      28-34 Fossway, Troy, OH 45373
      View Details
    • Value Estimation
      $345,000
      9,000 SF

      1884 Main St, Unit 888

      SHOPPING CENTER, STRIP CENTER • 9,000 SF
      1884 Main St, Troy, OH 45373-2304
      View Details

    Similar Nearby for Sale

    • $249,900
      1,560 SF

      Commercial Property in High Traffic Area

      Commercial property in Troy, Ohio, with high traffic and visibility.
      2065 S County Road 25A, Troy, OH 45373
      View Details
    • Contact for pricing
      1,850 SF

      Downtown Troy Retail/Office Condos

      Retail or office condos in historic downtown Troy building.
      12-16 S Market St, Troy, OH 45373
      View Details
    • $525,000
      4,296 SF

      Retail Property in Troy, Ohio

      Retail property for sale in Troy, Ohio, with 4296 square feet.
      407 Peters Ave, Troy, OH 45373
      View Details
    • $240,000
      684 SF

      Neighborhood Store with Inventory Included

      Commercial property with business, inventory, and diverse offerings for sale.
      249 Union St, Troy, OH 45373
      View Details
    • $499,500
      9,600 SF

      Renovated Flex Building For Sale

      Turnkey commercial building with office, warehouse, and retail space.
      250 S Mulberry St, Troy, OH 45373
      View Details
    • $625,000
      3,760 SF

      Versatile Automotive/Industrial Property in Troy

      Adaptable commercial space suitable for automotive, retail, or industrial use.
      2800 Stone Circle Dr, Troy, OH 45373
      View Details

    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
      View Details
    • 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
    • $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
    • $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
    • $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
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2309 Main St, Unit 2317
    Troy, OH 45373-8484
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.