Share This Listing

Message

914 characters remaining

Hmm, there seems to have been an error sending your message. Please try again.

Your email has been sent.

Still interested?

Contact the broker for more information about this property

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.

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

Price $575,000
Price Per SF $68.21
Sale Type Investment
Property Type Specialty
Property Subtype
Sorority/Fraternity House
  • Specialty Religious Facility
  • Specialty Sorority Fraternity House
  • Specialty Shelter
Building Class B
Lot Size 0.06 AC
Building Size 8,430 SF
No. Stories 2
Year Built/Renovated 1962/2018
Parking Ratio 1.42/1,000 SF
Zoning R-4 - Multi-use, apartments

Amenities

  • Air Conditioning
Fairly walkable
50/100
Exceptionally drivable
90/100
Moderately bikeable
60/100

Property Taxes

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
  • Listing ID: 40109032

  • Date on Market: 4/10/2026

  • Last Updated:

  • Address: 501 N Wittenberg Ave, Springfield, OH 45504

Link copied
Your LoopNet account has been created!

Please Share Your Feedback

We welcome any feedback on how we can improve LoopNet to better serve your needs.
X
{{ getErrorText(feedbackForm.starRating, "rating") }}
255 character limit ({{ remainingChars() }} charactercharacters remainingover)
{{ getErrorText(feedbackForm.msg, "rating") }}
{{ getErrorText(feedbackForm.fname, "first name") }}
{{ getErrorText(feedbackForm.lname, "last name") }}
{{ getErrorText(feedbackForm.phone, "phone number") }}
{{ getErrorText(feedbackForm.phonex, "phone extension") }}
{{ getErrorText(feedbackForm.email, "email address") }}