121 Main StTroy, OH 45373

Property Details for 121 Main St

Year built

1841

Lot size

0.08 AC

Property size (Sq ft)

8,029 SF

Property type

Commercial real estate

APN

D08-000820

APU

D08000820

Description

This exceptional mixed-use property, located at 121 E Main St in historic downtown Troy, Ohio, presents a compelling investment opportunity. The three-story brick building, constructed in 1841, boasts 8,029 square feet and sits on a 0.074-acre lot. Currently operating at 100% occupancy with 11 tenants, the property generates a strong NOI of $71,050, representing a 7.10% cap rate. The building features four residential units: a two-bedroom apartment on the first floor, a three-bedroom apartment with a balcony on the second floor, and a four-bedroom apartment with dual living rooms on the second floor. All residential units are fully furnished. The ground floor also includes a leased salon with amenities and a leased office space. The expansive third floor offers versatile space, currently unutilized, suitable for commercial use or potential conversion into additional residential units. Recent renovations (2022-2024) include new windows, HVAC systems, a tankless water heater, and updated interior finishes. The asking price is $1,000,000, translating to $124.55 per square foot and $700 per bedroom. This property offers a blend of commercial and residential income streams, making it an attractive investment with significant upside potential. The current tenant base includes Hobart Welding students, maximizing return on investment.

• CAP approach

  CAP return

  Valuation

  6%

  $1,746,060

  6.5%

  $1,611,750

  7%

  $1,496,620

• Comparable approach

  Method

  Valuation

  Relative Method

  $158,091

  Geo Method

  $158,091

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $3,134,120

  Retail / Commercial

  $1,614,800

  Mixed-Use / Specialty

  $1,615,070

  Hospitality / Lodging

  $1,192,770

  Office

  $1,611,750

  Institutional / Educational

  $1,681,180

  Residential Income

  $1,966,970

  Multifamily

  $2,325,690

  Automotive / Energy

  $1,441,010

  Parking / Income-Based Land

  $491,323

  Restaurant / Food Service

  $852,865

  Healthcare / Senior Housing

  $1,650,050

Location Insight

City

Troy

County

Miami

State

Ohio

Latitude

40.0391

Longitude

-84.2014

CBSA code

19430

CBSA name

DAYTON-KETTERING, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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