First-Floor Office
For Sale
Contact for pricing
4428 Secor Rd, Toledo, OH 43623
Immediately available first-floor office space offers multiple suite configurations and ample on-site parking.
Property Size1,710 SF
Price / SF$225.15
Days on Market753
Property Features for 4428 Secor Rd
General Information
Standard status
Active
Size
1,710 SF
Total Parking Spaces
67
Property subtype
OFFICE
Additional Details
Cap Rate
7.9%
Highway Access
Yes
Properties For Sale
at 4428 Secor Rd Contact us- Floor
- 1
- Size
- 2,070 SF
- Type
- OFFICE
- Lease Type
- GROSS
- Availability
- AVAILABLE, Now
- Sublease
- No
4428 Secor Rd
- Ideal owner occupant opportunity - 7.9% cap on in-place income
- Immediately available...
show more
Contact us
- Floor
- 1
- Size
- 1,710 SF
- Type
- OFFICE
- Lease Type
- GROSS
- Availability
- AVAILABLE, Now
- Sublease
- No
4428 Secor Rd
- Ideal owner occupant opportunity - 7.9% cap on in-place income
- Immediately available...
show more
Contact us
- Floor
- 1
- Size
- 1,881 SF
- Type
- OFFICE
- Lease Type
- GROSS
- Availability
- AVAILABLE, Now
- Sublease
- No
4428 Secor Rd
- Ideal owner occupant opportunity - 7.9% cap on in-place income
- Immediately available...
show more
Contact us
- Floor
- 2
- Size
- 3,100 SF
- Type
- OFFICE
- Lease Type
- GROSS
- Availability
- AVAILABLE, Now
- Sublease
- No
4428 Secor Rd
- Ideal owner occupant opportunity - 7.9% cap on in-place income
- Immediately available...
show more
Contact us
Listing Agency:
Reichle | Klein Group
(419) 861-1100
Listed By:
Ryan Miller · License #2011003129
(419) 794-3961
Source:
Moodyscre
Added: Aug 14, 2024
Changed: Aug 8
Last Checked: Jul 21 at 3:09AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Reichle | Klein Group
Investment Insights
Based on property information with market context.
This for-sale office property features immediately available first-floor office space with multiple suite configurations. Available space can support up to 3,591 square feet, making it suitable for a range of office layouts within a single building.
The property provides approximately 67 on-site parking spaces and offers convenient access to I-475. Nearby retailers listed in the remarks include Jing Chuan, West Toledo Animal Hospital, Toledo Thai Restaurant, Taco Bell, Walgreen’s, Kroger, and Best Buy.
Financial information is available upon qualified request.
The property provides approximately 67 on-site parking spaces and offers convenient access to I-475. Nearby retailers listed in the remarks include Jing Chuan, West Toledo Animal Hospital, Toledo Thai Restaurant, Taco Bell, Walgreen’s, Kroger, and Best Buy.
Financial information is available upon qualified request.
Key Highlights
- 7.9% cap on in‑place income (per provided remarks)
- Immediately available first‑floor office space up to 3,591 SF
- Multiple suite configurations available
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$15,563
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.04%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$311,260
$311.3K
Cap Rate 7%
$222,329
$222.3K
Cap Rate 9%
$172,922
$172.9K
Market Conditions
NOI Build-Up for 1,710 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$25.7K $15.00/SF
− Vacancy
−$4.9K −$2.87/SF
EGI
$20.8K $12.14/SF
− OpEx
−$5.2K −$3.03/SF
NOI
$15.6K $9.10/SF
Area
Toledo, OH
Vacancy
19.10%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$311,260
Cap Rate 7%
$222,329
Cap Rate 9%
$172,922
Alternative Uses
Best Use
Office B
$222.3K
$194.5K – $259.4K
NOI $15,563 @ 7.0% cap · market cap 4.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$284.6K
$249.0K – $332.0K
NOI $19,921 @ 7.0% cap · market cap 5.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
972
Businesses Nearby
Explore this area
Business Placement
Demographics for 43623, OH
20,320
Population
10,056
Households
2
Avg Household Size
43
Median Age
31%
College-Educated
93%
High-School Grad
6.7 sq mi
ZIP Area
3,033
Density / Sq Mi
$65,908
Median Household Income
$40,496
Median Earnings
$933
Median Rent
$167,500
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Immediately available first-floor office space offers multiple suite configurations and ample on-site parking.
Where is this office units located?
The property is located at 4428 Secor Rd Toledo, OH.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: 7.9% cap on in‑place income (per provided remarks); Immediately available first‑floor office space up to 3,591 SF; Multiple suite configurations available
