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501 N Wittenberg Ave - Mid Century Classic | Investment Property 8,430 SF Specialty Building Offered at $575,000 in Springfield, OH 45504



Investment Highlights
- • Upscale student housing, rooming house, or market-rate residential conversion opportunity
- • Event venue with commercial kitchen and social room in place
- • Boutique bed & breakfast, inn, or extended-stay lodging potential
Executive Summary
Rarely does a property this distinctive come to market. Located at 501 N. Wittenberg Avenue in Springfield, Ohio, this 8,430 square foot former sorority house is a genuine one-of-a-kind asset — architecturally significant, institutionally built, and brimming with adaptive reuse potential that few properties can match.
From the moment you step through the mid-century modern entry, the scale and character of this building make an immediate impression. The formal living and social room anchors the main floor, providing the kind of grand communal space that today's developers, operators, and creative users actively seek and rarely find. With 14 bedrooms spread across the building's footprint, the floor plan lends itself naturally to residential conversion, boutique lodging, group living, or community programming — all within a solid, well-proportioned structure built to institutional standards.
The commercial kitchen adds a layer of functionality and value that most residential conversions require years and significant capital to achieve. For an operator entering the hospitality, event, or food service space, this asset arrives ready to work.
Springfield's growing development momentum — anchored by significant public and private investment in the downtown and near-campus corridors — makes the timing of this offering particularly compelling. Properties with this combination of square footage, character, bedroom count, and food service infrastructure simply do not come available often. This is a generational buy for the right operator, investor, or visionary developer.
From the moment you step through the mid-century modern entry, the scale and character of this building make an immediate impression. The formal living and social room anchors the main floor, providing the kind of grand communal space that today's developers, operators, and creative users actively seek and rarely find. With 14 bedrooms spread across the building's footprint, the floor plan lends itself naturally to residential conversion, boutique lodging, group living, or community programming — all within a solid, well-proportioned structure built to institutional standards.
The commercial kitchen adds a layer of functionality and value that most residential conversions require years and significant capital to achieve. For an operator entering the hospitality, event, or food service space, this asset arrives ready to work.
Springfield's growing development momentum — anchored by significant public and private investment in the downtown and near-campus corridors — makes the timing of this offering particularly compelling. Properties with this combination of square footage, character, bedroom count, and food service infrastructure simply do not come available often. This is a generational buy for the right operator, investor, or visionary developer.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Taxes |
$7,830
|
$0.93
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$7,830
|
$0.93
|
Financial Summary (Actual - 2025)
| Taxes | |
|---|---|
| Annual | $7,830 |
| Annual Per SF | $0.93 |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $7,830 |
| Annual Per SF | $0.93 |
Property Facts
Amenities
- Air Conditioning
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 34-00700-03530-0009 | Total Assessment | $125,450 |
| Land Assessment | $11,100 | Annual Taxes | $7,830 ($0.93/SF) |
| Improvements Assessment | $114,350 | Tax Year | 2025 |
Property Taxes
Parcel Number
34-00700-03530-0009
Land Assessment
$11,100
Improvements Assessment
$114,350
Total Assessment
$125,450
Annual Taxes
$7,830 ($0.93/SF)
Tax Year
2025
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501 N Wittenberg Ave - Mid Century Classic | Investment Property
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