Four-Unit Multifamily
For Sale
$700,000
4847 Wickford Dr E, Sylvania, OH 43560
Fully occupied four-unit multifamily property with two 3-bedroom and two 2-bedroom apartment layouts.
Property Size8,400 SF
Price / SF$83.33
Days on Market115
Property Features for 4847 Wickford Dr E
General Information
Standard status
Active
Size
8,400 SF
Property subtype
Multifamily
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
4
Building Details
Building Size
8,400 SF
Year Built
1965
Listing Agency:
SVN | Ascension Commercial Realty
(419) 276-1236
Listed By:
Doug Wright, CCIM · License #OH #BRKA.2001001738
(419) 276-1236
Source:
Svn
Added: May 8
Changed: Aug 26
Last Checked: Aug 30 at 2:26PM
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 SVN | Ascension Commercial Realty
Investment Insights
Based on property information with market context.
This 8,400-square-foot multifamily property for sale consists of four units: two 2,200-square-foot 3-bedroom, 1.5-bath units and two 2,000-square-foot 2-bedroom, 1.5-bath units. The property is fully occupied, with all tenants currently on month-to-month leases.
The building is located in Sylvania, Ohio, about 1.5 miles from the US-23 South interchange and just southwest of Toledo Flower Hospital.
The unit mix and month-to-month occupancy provide a straightforward residential income profile within a four-unit structure.
The building is located in Sylvania, Ohio, about 1.5 miles from the US-23 South interchange and just southwest of Toledo Flower Hospital.
The unit mix and month-to-month occupancy provide a straightforward residential income profile within a four-unit structure.
Key Highlights
- 8,400 SF four‑unit multifamily property in Sylvania, Ohio, built in 1965
- Two 2,200 SF units: 3 bedrooms and 1.5 baths each
- Two 2,000 SF units: 2 bedrooms and 1.5 baths each
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
$59,102
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
8.44%
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%
$1,182,040
$1.2M
Cap Rate 7%
$844,314
$844.3K
Cap Rate 9%
$656,689
$656.7K
Market Conditions
NOI Build-Up for 8,400 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
$115.9K $13.80/SF
− Vacancy
−$8.5K −$1.01/SF
EGI
$107.5K $12.79/SF
− OpEx
−$48.4K −$5.76/SF
NOI
$59.1K $7.04/SF
Area
Lucas County, OH
Vacancy
7.30%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
45.00%
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%
$1,182,040
Cap Rate 7%
$844,314
Cap Rate 9%
$656,689
Alternative Uses
Best Use
Multifamily LT 5
$966.3K
$845.5K – $1.13M
NOI $67,640 @ 7.0% cap · market cap 9.66%
Second Best
Apartment 5plus
$844.3K
$738.8K – $985.0K
NOI $59,102 @ 7.0% cap · market cap 8.44%
Theoretical Best
Specialty Retail
$1.54M
$1.35M – $1.79M
NOI $107,617 @ 7.0% cap · market cap 15.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
638
Businesses Nearby
Explore this area
Business Placement
Demographics for 43560, OH
34,204
Population
13,107
Households
2.6
Avg Household Size
42
Median Age
53%
College-Educated
98%
High-School Grad
21.2 sq mi
ZIP Area
1,613
Density / Sq Mi
$104,865
Median Household Income
$59,940
Median Earnings
$1,102
Median Rent
$262,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied four-unit multifamily property with two 3-bedroom and two 2-bedroom apartment layouts.
Where is this quadplex located?
The property is located at 4847 Wickford Dr E Sylvania, OH.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 8,400 SF four‑unit multifamily property in Sylvania, Ohio, built in 1965; Two 2,200 SF units: 3 bedrooms and 1.5 baths each; Two 2,000 SF units: 2 bedrooms and 1.5 baths each
