Multifloor Office Building with Separate
For Sale
Contact for pricing
241 N Superior St, Toledo, OH 43604
Office building with terrazzo finishes, separately metered floors, and recent system and window updates.
Property Size12,600 SF
Price / SF$0.00
Days on Market192
Property Features for 241 N Superior St
General Information
Standard status
Active
Size
12,600 SF
Property subtype
Office
Zoning
CD
Site & Location
Neighborhood
Janet Hickey, President
Additional Details
Opportunity Zone
Yes
Building Details
Building Size
12,600 SF
Listing Agency:
Signature Associates - Toledo
Listed By:
Megan Malczewski
(419) 215-1008
Source:
Cpix.resimplifi
Added: Apr 22
Changed: Oct 25
Last Checked: Oct 30 at 10:46AM
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
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Investment Insights
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This office building features terrazzo floors and a terrazzo stairwell at the first-floor entry. Each floor is separately metered for gas and electric, supporting independent building utility management. Handicap accessible entry with automatic doors is provided, and the property includes a hydraulic elevator suspension with $50,000 invested. Major renovations include a dedicated first-floor electric heating and cooling system located in the ceiling, newly updated front and side windows on the second and third floors, and newer third-floor restrooms.
The property is located at 241 N Superior St and is the immediate neighbor to the Huntington Center. It is surrounded by parking garages, surface lots, and street parking, which can support day-to-day access for occupants and visitors.
For buyers evaluating current performance, the provided remarks state total net income after all expenses is approximately $85,000 with total operating expenses of approximately $32,000, and an income and expense statement is available with an acceptable Letter of Intent and/or Purchase Agreement. The property is also identified as being in a Qualified Opportunity Zone, which may be relevant to qualified investor planning. The recent updates to mechanical systems, windows, and restrooms can help reduce near-term building capex considerations for an office operator or owner-occupant.
The property is located at 241 N Superior St and is the immediate neighbor to the Huntington Center. It is surrounded by parking garages, surface lots, and street parking, which can support day-to-day access for occupants and visitors.
For buyers evaluating current performance, the provided remarks state total net income after all expenses is approximately $85,000 with total operating expenses of approximately $32,000, and an income and expense statement is available with an acceptable Letter of Intent and/or Purchase Agreement. The property is also identified as being in a Qualified Opportunity Zone, which may be relevant to qualified investor planning. The recent updates to mechanical systems, windows, and restrooms can help reduce near-term building capex considerations for an office operator or owner-occupant.
Key Highlights
- Total net income after all expenses is approximately $85,000; operating expenses are approx. $32,000
- Each floor is separately metered for gas and electric
- First‑floor entry terrazzo floors and stairwell
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$114,676
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,293,520
$2.3M
Cap Rate 7%
$1,638,229
$1.6M
Cap Rate 9%
$1,274,178
$1.3M
Market Conditions
NOI Build-Up for 12,600 SF
Gross rent
$189.0K $15.00/SF
− Vacancy
−$36.1K −$2.87/SF
EGI
$152.9K $12.14/SF
− OpEx
−$38.2K −$3.03/SF
NOI
$114.7K $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 Rate 5%
$2,293,520
Cap Rate 7%
$1,638,229
Cap Rate 9%
$1,274,178
Alternative Uses
Best Use
Office B
$1.64M
$1.43M – $1.91M
NOI $114,676 @ 7.0% cap · market cap 917,408.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.10M
$1.83M – $2.45M
NOI $146,785 @ 7.0% cap · market cap 1,174,280.00%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
2,826
Businesses Nearby
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Business Placement
Demographics for 43604, OH
9,248
Population
5,868
Households
1.6
Avg Household Size
35
Median Age
16%
College-Educated
79%
High-School Grad
2.8 sq mi
ZIP Area
3,303
Density / Sq Mi
$18,980
Median Household Income
$27,457
Median Earnings
$499
Median Rent
$59,300
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Office building with terrazzo finishes, separately metered floors, and recent system and window updates.
Where is this office building located?
The property is located at 241 N Superior St Toledo, OH.
What are key features of this property?
This property features: Total net income after all expenses is approximately $85,000; operating expenses are approx. $32,000; Each floor is separately metered for gas and electric; First‑floor entry terrazzo floors and stairwell
