Office Condominium With Heated
For Sale
$575,000
1721 Indian Wood Cir, Maumee, OH 43537
Office condominium with built-in cabinetry, kitchenette, shower-equipped restroom, and access to a walking trail.
Property Size5,072 SF
Price / SF$113.37
Days on Market1208
Property Features for 1721 Indian Wood Cir
General Information
Standard status
Active
Size
5,072 SF
Class
C
Total Parking Spaces
50
Property subtype
Office
Building Details
Building Size
5,072 SF
Year Built
1991
Buildings
1
Stories
2
Listing Agency:
Signature Associates - Toledo
Listed By:
Robert Mack
(419) 466-6225
Source:
Cpix.resimplifi
Added: Jun 26, 2023
Changed: Oct 9
Last Checked: Oct 14 at 7:33PM
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 Signature Associates - Toledo
Investment Insights
Based on property information with market context.
This 5,072-square-foot office condominium building in Maumee, Ohio, was constructed in 1991 and includes a practical mix of workplace and support features. Interior improvements include built-in cabinets and bookshelves, a kitchenette with built-in refrigerator, parabolic lighting, and a restroom with a shower. The property also offers a heated garage with a floor drain and utility sink.
Outdoor amenities include a patio or picnic area, access to a walking trail, and a wooded view. The building’s existing occupants may remain in a portion of the property, subject to an arrangement that includes occasional use of the downstairs conference room if occupancy is limited to the second floor.
Outdoor amenities include a patio or picnic area, access to a walking trail, and a wooded view. The building’s existing occupants may remain in a portion of the property, subject to an arrangement that includes occasional use of the downstairs conference room if occupancy is limited to the second floor.
Key Highlights
- 5,072‑square‑foot office condominium building constructed in 1991
- Heated garage with floor drain and utility sink
- Built‑in cabinets and bookshelves throughout the office
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,943
Cap Rate
7.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$838,860
$838.9K
Cap Rate 7%
$599,186
$599.2K
Cap Rate 9%
$466,033
$466.0K
Market Conditions
NOI Build-Up for 5,072 SF
Gross rent
$67.0K $13.20/SF
− Vacancy
−$11.0K −$2.17/SF
EGI
$55.9K $11.03/SF
− OpEx
−$14.0K −$2.76/SF
NOI
$41.9K $8.27/SF
Area
Lucas County, OH
Vacancy
16.47%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$838,860
Cap Rate 7%
$599,186
Cap Rate 9%
$466,033
Alternative Uses
Best Use
Office B
$599.2K
$524.3K – $699.1K
NOI $41,943 @ 7.0% cap · market cap 7.29%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$928.3K
$812.3K – $1.08M
NOI $64,980 @ 7.0% cap · market cap 11.30%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,043
Businesses Nearby
Explore this area
Business Placement
Demographics for 43537, OH
29,075
Population
13,071
Households
2.2
Avg Household Size
44
Median Age
42%
College-Educated
97%
High-School Grad
18.6 sq mi
ZIP Area
1,563
Density / Sq Mi
$85,919
Median Household Income
$49,020
Median Earnings
$1,017
Median Rent
$235,200
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 - Office condominium with built-in cabinetry, kitchenette, shower-equipped restroom, and access to a walking trail.
Where is this office units located?
The property is located at 1721 Indian Wood Cir Maumee, OH.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 5,072‑square‑foot office condominium building constructed in 1991; Heated garage with floor drain and utility sink; Built‑in cabinets and bookshelves throughout the office
