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

    2800 Troy Rd Springfield, OH 45504

    • Turn key restaurants
    • 6,538 SF
    • 1.39 lot acres
    OFF-MARKET
    Last Sale
    Dec 09, 2020
    $275,600
    Value Estimations
    $275,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2468555
    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

    • Studebaker's Country Restaurant on 41 / Restaurant

    Property Details for 2800 Troy Rd

    Year built
    1977
    Construction
    BRICK
    Lot size
    1.39 lot acres
    Property size
    6,538 SF
    Zone code
    B-1
    Property type
    Turn key restaurants
    APN
    050-06-00018-000-039
    APU
    500600018000039

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $245,000
      ML approach
      $310,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $352,000
      Market price range: $345k - $975k

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Clark
    State
    Ohio
    Longitude
    -83.8583
    Latitude
    39.9474
    CBSA code
    44220
    CBSA name
    SPRINGFIELD, 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
    $11,729
    $63,580
    $128,760
    $192,340
    -
    $181,650
    $367,880
    $549,530

    Comparable in this City

    • Value Estimation
      $275,000
      1,856 SF

      3836 Lawrenceville Dr

      RESTAURANT • 1,856 SF
      3836 Lawrenceville Dr, Springfield, OH 45504-4484
      View Details
    • Value Estimation
      $300,000
      5,712 SF

      1898 1st St

      RESTAURANT • 5,712 SF
      1898 1st St, Springfield, OH 45504-1927
      View Details
    • Value Estimation
      $210,000
      2,120 SF

      Albemarle Rd

      RESTAURANT • 2,120 SF
      Albemarle Rd, Springfield, OH 45504
      View Details
    • Value Estimation
      $310,000
      5,616 SF

      330 Mccreight Ave

      RESTAURANT • 5,616 SF
      330 Mccreight Ave, Springfield, OH 45504-1819
      View Details
    • Value Estimation
      $255,000
      2,400 SF

      1112 Main St

      RESTAURANT • 2,400 SF
      1112 Main St, Springfield, OH 45504-2812
      View Details
    • Value Estimation
      $350,000
      5,409 SF

      1661 1st St

      RESTAURANT • 5,409 SF
      1661 1st St, Springfield, OH 45504-1957
      View Details

    Similar Nearby for Sale

    • $450,000
      3,906 SF

      Retail/Office Building Investment Opportunity

      Retail/office building in Springfield, OH, with high traffic and potential.
      1110 N Bechtle Ave, Springfield, OH 45504
      View Details
    • $2,013,000
      42,061 SF

      Springfield Commons Outparcel Retail Opportunity

      Retail strip center with value-add opportunity in Springfield, Ohio.
      1501 N Bechtle Ave, Springfield, OH 45504
      View Details
    • $1,583,333
      1,415 SF

      NNN Investment Opportunity in Springfield

      Long-term NNN lease with attractive annual rental increases.
      150 N Bechtle Ave, Springfield, OH 45504
      View Details
    • Contact for pricing
      4,542 SF

      Freestanding Commercial Building on Corner Lot

      3,982 SF building ideal for medical, office, or retail.
      640 N Fountain Ave, Springfield, OH 45504
      View Details
    • $260,000
      1,864 SF

      Downtown Springfield Retail Opportunity

      Retail property for sale in Downtown Springfield.
      22 S Plum St, Springfield, OH 45504
      View Details
    • $795,000
      45,000 SF

      Springfield, OH Special Purpose Property

      Historic 45,000 SF building, 8 acres
      3500 National Rd, Springfield, OH 45504
      View Details

    Similar Nearby for Lease

    • $24 SF/Yr
      19,727 SF

      Prime Restaurant Space, Las Vegas

      1,600 SF Available in Multi-Tenant Building
      1200 Bechtle Ave, Springfield, OH 45504
      View Details
    • Contact for pricing
      68,470 SF

      Springfield Plaza Retail Spaces

      Prime Retail Space, Multiple Options
      1600 Upper Valley Pike, Springfield, OH 45504
      View Details
    • $22 SF/Yr
      32,000 SF

      Prime Retail Space, Las Vegas

      Restaurant/Retail, 1,440 sq ft available
      2016 Bechtle St, Springfield, OH 45504
      View Details
    • $24 SF/Yr
      19,247 SF

      Springfield Retail Plaza - Prime Location

      High-traffic retail space available in Springfield, Ohio.
      1201-1212 Bechtle Ave, Springfield, OH 45504
      View Details
    • Contact for pricing
      49,930 SF

      Retail Space in Springfield, OH

      Retail opportunity with high traffic and strong tenant mix.
      1390-1476 Upper Valley Pike, Springfield, OH 45504
      View Details
    • $22 SF/Yr
      1,440 SF

      Retail Space Available For Lease

      Retail space available for lease in Springfield, OH.
      1985-2075 N Bechtle Ave, Springfield, OH 45504
      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.
    2800 Troy Rd
    Springfield, OH 45504
    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.