Historic Mixed-Use
For Sale
$690,000
140 W Front St, Perrysburg, OH 43551
Historic building offers divisible first-floor commercial space with offices and restrooms, plus residential units above.
Property Size3,944 SF
Price / SF$174.95
Days on Market137
Property Features for 140 W Front St
General Information
Standard status
Active
Size
3,944 SF
Total Parking Spaces
6
Property subtype
Office
Zoning
OS
Building Details
Building Size
3,944 SF
Year Built
1821
Stories
2
Tenancy
Multi
Listing Agency:
Signature Associates - Toledo
Listed By:
Megan Malczewski
(419) 215-1008
Source:
Cpix.resimplifi
Added: Jun 1
Changed: Oct 6
Last Checked: Oct 14 at 7:46PM
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 historic mixed-use property was originally built as The Exchange Hotel and includes a commercial first floor, residential second floor, and a basement. The first-floor commercial area totals 2,080 square feet and was recently used for an aesthetics and wellness business, with a layout that includes offices, some offices with sinks, and a restroom within each first-floor “unit,” which supports flexibility to divide or operate as one larger space. The first floor also includes washer/dryer. The second floor provides 1,864 square feet of residential space with outdoor balconies, and there is an additional 520-square-foot basement.
The building is positioned right outside of Downtown Perrysburg with excellent visibility from Front Street and a main entryway into Perrysburg. Gas for the entire property is on one meter, and the electrical is divided into four meters. Recent updates include new electrical in the offices, plumbing updates (including sink relocations), and a new high-velocity HVAC system (Spacepak Central Air) with updated finishes such as flooring, cabinets, and countertops. Electric heat is currently not in use, with heating provided by a boiler. Two of the three garages are leased on a month-to-month basis.
The building is positioned right outside of Downtown Perrysburg with excellent visibility from Front Street and a main entryway into Perrysburg. Gas for the entire property is on one meter, and the electrical is divided into four meters. Recent updates include new electrical in the offices, plumbing updates (including sink relocations), and a new high-velocity HVAC system (Spacepak Central Air) with updated finishes such as flooring, cabinets, and countertops. Electric heat is currently not in use, with heating provided by a boiler. Two of the three garages are leased on a month-to-month basis.
Key Highlights
- Historic Exchange Hotel (built 1821) as a mixed‑use property with commercial space on the 1st floor and residences above.
- 1st floor commercial: 2,080 SF with offices and restrooms; each 1st‑floor unit has a restroom for easy division or use as one space.
- 2nd floor residential: 1,864 SF plus outdoor balconies; apartments previously rented for $1,400–$1,500/month.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,660
Cap Rate
6.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$873,200
$873.2K
Cap Rate 7%
$623,714
$623.7K
Cap Rate 9%
$485,111
$485.1K
Market Conditions
NOI Build-Up for 3,944 SF
Gross rent
$71.0K $18.00/SF
− Vacancy
−$12.8K −$3.24/SF
EGI
$58.2K $14.76/SF
− OpEx
−$14.6K −$3.69/SF
NOI
$43.7K $11.07/SF
Area
Wood County, OH
Vacancy
18.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$873,200
Cap Rate 7%
$623,714
Cap Rate 9%
$485,111
Alternative Uses
Best Use
Office B
$623.7K
$545.8K – $727.7K
NOI $43,660 @ 7.0% cap · market cap 6.33%
Second Best
Mixed Use
$570.5K
$499.2K – $665.6K
NOI $39,933 @ 7.0% cap · market cap 5.79%
Theoretical Best
Office A
$918.7K
$803.8K – $1.07M
NOI $64,306 @ 7.0% cap · market cap 9.32%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
461
Businesses Nearby
Explore this area
Business Placement
Demographics for 43551, OH
43,235
Population
19,434
Households
2.2
Avg Household Size
40
Median Age
50%
College-Educated
97%
High-School Grad
77.6 sq mi
ZIP Area
557
Density / Sq Mi
$91,460
Median Household Income
$58,846
Median Earnings
$1,185
Median Rent
$284,800
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Historic building offers divisible first-floor commercial space with offices and restrooms, plus residential units above.
Where is this mixed-use property located?
The property is located at 140 W Front St Perrysburg, OH.
What is the asking price?
The asking price for this property is $690,000.
What are key features of this property?
This property features: Historic Exchange Hotel (built 1821) as a mixed‑use property with commercial space on the 1st floor and residences above.; 1st floor commercial: 2,080 SF with offices and restrooms; each 1st‑floor unit has a restroom for easy division or use as one space.; 2nd floor residential: 1,864 SF plus outdoor balconies; apartments previously rented for $1,400–$1,500/month.
