Add Listing
    For Sale
    • 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

    322 Illinois Ave Maumee, OH 43537

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $625,000

    Spacious warehouse, ideal for heavy equipment.

    Property Features for 322 Illinois Ave

    General Information

    Property type
    Other commercial real estate
    Lot Size
    14,810 SF

    Building Details

    Year Built
    1954

    We can help!

    Listing Contact
    Rachel Kent
    Rachel Kent

    Listing Agency: Harmony Realty Group Listing Agent: Rachel Kent

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional 5,576 square foot warehouse property, situated on a 0.34-acre lot at 322 Illinois Avenue Unit 322, Maumee, OH, presents a unique opportunity for businesses seeking ample space and functionality. The building boasts an additional 1,800 square feet of second-floor space, perfect for storage or office use, significantly expanding its versatility. The warehouse is equipped with two cranes, one with a one-ton capacity and the other with a two-ton capacity, making it ideal for handling heavy equipment. Three-phase electric service is in place, catering to the needs of power-intensive operations. High ceilings, measuring 18 feet, provide substantial vertical storage capacity. Convenient loading and unloading are facilitated by an overhead door large enough to accommodate a full-size semi-truck. The property benefits from a recently replaced roof (2024), with a recent inspection confirming its excellent condition. Its strategic location near major expressways and the turnpike ensures easy access to regional transportation networks. Detailed architectural drawings are available upon request. This property is priced at $625,000 and offers a compelling combination of functionality, convenience, and strategic location.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Wardog Surplus (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Maumee
    County
    Lucas
    State
    Ohio
    Longitude
    -83.66158
    Latitude
    41.56719

    Nearby Similar for Sale

    • $499,000
      6,783 SF

      Maumee Office Building For Sale

      Two-story office building in Briarfield Business Park, Maumee.
      6455 Wheatstone Ct, Maumee, OH 43537
      View Details
    • $600,000

      Maumee Office Space Available

      Office space for sale in Maumee, Ohio.
      1615 Holland Rd, Maumee, OH 43537
      View Details
    • $895,000
      13,990 SF

      Maumee Industrial Property For Sale

      Industrial property with loading docks and overhead doors in Maumee.
      809-821 Ford St, Maumee, OH 43537
      View Details
    • $1,450,000
      16,952 SF

      Freestanding Office Building For Sale

      16,952 SF office building with a 5,000 SF meeting room.
      1691 Woodlands Dr, Maumee, OH 43537
      View Details
    • $7,890,000
      110,865 SF

      Arrowhead Park Office Building

      Office building in premier Toledo office development near major highways.
      1740 Indian Wood Cir, Maumee, OH 43537
      View Details
    • Contact for pricing
      16,307 SF

      Maumee Medical Office Building

      16,000 SF medical office building for sale in Maumee.
      1661 Holland Rd, Maumee, OH 43537
      View Details
    • $350,000
      4,874 SF

      Maumee Retail Building - $350K

      Prime Maumee storefront, ample parking. Owner/user opportunity.
      705-713 Conant St, Maumee, OH 43537
      View Details
    • $600,000

      Arrowhead Commons: Medical Office Building

      Maumee, OH Medical Office - For Sale
      1615 Holland Rd, Maumee, OH 43537
      View Details
    • Contact for pricing

      Move-In Ready Condo with Golf View

      Two-bedroom condo with pool and golf course views.
      6640 Salisbury Rd, Maumee, OH 43537
      View Details
    • $2,200,000
      31,010 SF

      Maumee Retail Center - $2.2M

      High-traffic retail space, excellent location.
      1412 Reynolds Rd, Maumee, OH 43537
      View Details
    • Contact for pricing
      15,000 SF

      Maumee Creative Office Space

      15,000 SF Creative Office in Maumee, OH
      1701 Indian Wood Cir, Maumee, OH 43537
      View Details
    • $2,500,000
      42,000 SF

      Maumee Office Building: $2.5M

      Prime Maumee office space, 42,000 sq ft.
      1745 Indian Wood Cir, Maumee, OH 43537
      View Details

    FAQs

    What type of property is this?
    Commercial real estate - Spacious warehouse, ideal for heavy equipment.
    Where is this commercial real estate located?
    The property is located at 322 Illinois Ave Maumee, OH.
    What is the asking price?
    The asking price for this property is $625,000.
    (419) 740-3225
    Request Owner's contact information
    322 Illinois Ave Maumee, OH 43537
    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.
    322 Illinois Ave
    Maumee, OH 43537
    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
    322 Illinois Ave Maumee, OH 43537
    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

    We can help!
    Listing Contact
    Rachel Kent
    Rachel Kent
    (419) 740-3225 (419) 450-5945
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!