Renovated Office Building and
For Sale
$199,995
2230 West Laskey Road, Toledo, OH 43613
Renovated office building with five offices plus a detached yurt conference/workspace and ample parking with multiple curb cuts.
Property Size1,752 SF
Price / SF$114.15
Days on Market96
Property Features for 2230 West Laskey Road
General Information
Standard status
Active
Size
1,752 SF
Class
B
Total Parking Spaces
22
Property subtype
Office
Zoning
CR Regional Commercial
Additional Details
Office Units
5
Building Details
Building Size
1,752 SF
Year Built
1952
Year Renovated
2017
Listing Agency:
Miller Diversified
Listed By:
Hunt Sears · License #0000448649
(419) 250-2769
Source:
Millerdiversified
Added: Jun 3
Changed: Aug 31
Last Checked: Sep 6 at 4:30AM
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 Miller Diversified
Investment Insights
Based on property information with market context.
Built in 1952 and renovated in 2017, this office property offers a mix of professional workspace and flexible outdoor use. The primary structure includes five offices, a conference room, a reception area, a kitchen, and two restrooms. In addition to the office buildout, there is a separate 1,420 SF yurt in the backyard that has been used as a conference room, additional office, and storage area.
The property is located at 2230 West Laskey Road in Toledo, Ohio and is zoned CR Regional Commercial. Access is supported by ample parking with 22 parking spaces and three curb cuts off Laskey Rd. and Yermo Dr. The improvements include a newer roof, vinyl siding, and two HVAC units.
This setup can suit a variety of office users who want dedicated interior rooms along with an additional flexible work/conference space on site. For investors, the property includes two distinct units: a 1,752 SF office building and a 1,420 SF free-standing yurt, both supported by on-site parking and multiple points of vehicular access.
The property is located at 2230 West Laskey Road in Toledo, Ohio and is zoned CR Regional Commercial. Access is supported by ample parking with 22 parking spaces and three curb cuts off Laskey Rd. and Yermo Dr. The improvements include a newer roof, vinyl siding, and two HVAC units.
This setup can suit a variety of office users who want dedicated interior rooms along with an additional flexible work/conference space on site. For investors, the property includes two distinct units: a 1,752 SF office building and a 1,420 SF free-standing yurt, both supported by on-site parking and multiple points of vehicular access.
Key Highlights
- 1952‑built, renovated in 2017, 1,752 SF office building with reception, 5 offices, 1 conference room, kitchen, and 2 rest rooms
- Detached 1,420 SF yurt in the backyard used as a conference room, additional office, and storage/workspace
- Newer roof and 2 HVAC units serving the 1,752 SF office building
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
$16,247
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
8.12%
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%
$324,940
$324.9K
Cap Rate 7%
$232,100
$232.1K
Cap Rate 9%
$180,522
$180.5K
Market Conditions
NOI Build-Up for 1,752 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
$29.4K $16.80/SF
− Vacancy
−$2.4K −$1.34/SF
EGI
$27.1K $15.46/SF
− OpEx
−$10.8K −$6.18/SF
NOI
$16.2K $9.27/SF
Area
Toledo, OH
Vacancy
8.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
40.00%
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%
$324,940
Cap Rate 7%
$232,100
Cap Rate 9%
$180,522
Alternative Uses
Best Use
Healthcare Medical
$232.1K
$203.1K – $270.8K
NOI $16,247 @ 7.0% cap · market cap 8.12%
Second Best
Office B
$227.8K
$199.3K – $265.8K
NOI $15,945 @ 7.0% cap · market cap 7.97%
Theoretical Best
Office A
$291.6K
$255.1K – $340.2K
NOI $20,410 @ 7.0% cap · market cap 10.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Office units
Location Intelligence
Trade Area within ½ mile
452
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43613, OH
32,116
Population
14,376
Households
2.2
Avg Household Size
37
Median Age
23%
College-Educated
93%
High-School Grad
6.1 sq mi
ZIP Area
5,265
Density / Sq Mi
$63,425
Median Household Income
$41,877
Median Earnings
$895
Median Rent
$125,300
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?
Medical Office Space - Renovated office building with five offices plus a detached yurt conference/workspace and ample parking with multiple curb cuts.
Where is this medical office space located?
The property is located at 2230 West Laskey Road Toledo, OH.
What is the asking price?
The asking price for this property is $199,995.
What are key features of this property?
This property features: 1952‑built, renovated in 2017, 1,752 SF office building with reception, 5 offices, 1 conference room, kitchen, and 2 rest rooms; Detached 1,420 SF yurt in the backyard used as a conference room, additional office, and storage/workspace; Newer roof and 2 HVAC units serving the 1,752 SF office building
