Move-In-Ready Office Building Corner
For Sale
$675,000
28370 Kensington Ln, Perrysburg, OH 43551
Well-maintained office space with a flexible layout and basement area, positioned for convenient interstate access.
Property Size3,103 SF
Price / SF$217.53
Days on Market144
Property Features for 28370 Kensington Ln
General Information
Standard status
Active
Size
3,103 SF
Property subtype
Office
Zoning
PUD-M
Additional Details
Highway Access
Yes
Building Details
Building Size
3,103 SF
Year Built
2011
Listing Agency:
Signature Associates - Toledo
Listed By:
Megan Malczewski
(419) 215-1008
Source:
Cpix.resimplifi
Added: Apr 22
Changed: Sep 2
Last Checked: Sep 11 at 4:32AM
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 professionally managed office building offers move-in-ready space with a flexible layout designed to support a variety of professional uses. The property is described as well-maintained with attractive curb appeal, and it includes a total building area of 9,004 square feet with a 4,412 square foot basement.
The building is located at the prominent corner of Kensington, Simmons and St. Rt. 795 in Perrysburg Township. Access is convenient to I-75, I-475, and the Greater Toledo market, and the remarks note the property is at the I-75 interchange, with about 0.5 miles to I-80/90.
For tenants or buyers seeking an office setting with existing space and a basement for additional storage or support uses, this property provides a ready-to-occupy option. Its maintained exterior presentation and corner location can support everyday client and staff access while keeping the building positioned within the Perrysburg market described in the remarks.
The building is located at the prominent corner of Kensington, Simmons and St. Rt. 795 in Perrysburg Township. Access is convenient to I-75, I-475, and the Greater Toledo market, and the remarks note the property is at the I-75 interchange, with about 0.5 miles to I-80/90.
For tenants or buyers seeking an office setting with existing space and a basement for additional storage or support uses, this property provides a ready-to-occupy option. Its maintained exterior presentation and corner location can support everyday client and staff access while keeping the building positioned within the Perrysburg market described in the remarks.
Key Highlights
- Office building built in 2011 in Perrysburg Township
- Move‑in ready office space with a flexible layout for various professional uses
- Total building size is 9,004 SF, including a 4,412 SF basement
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
$34,350
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
5.09%
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%
$687,000
$687.0K
Cap Rate 7%
$490,714
$490.7K
Cap Rate 9%
$381,667
$381.7K
Market Conditions
NOI Build-Up for 3,103 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
$55.9K $18.00/SF
− Vacancy
−$10.1K −$3.24/SF
EGI
$45.8K $14.76/SF
− OpEx
−$11.5K −$3.69/SF
NOI
$34.4K $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 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%
$687,000
Cap Rate 7%
$490,714
Cap Rate 9%
$381,667
Alternative Uses
Best Use
Office B
$490.7K
$429.4K – $572.5K
NOI $34,350 @ 7.0% cap · market cap 5.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$722.8K
$632.4K – $843.2K
NOI $50,593 @ 7.0% cap · market cap 7.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
110
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?
Office building - Well-maintained office space with a flexible layout and basement area, positioned for convenient interstate access.
Where is this office building located?
The property is located at 28370 Kensington Ln Perrysburg, OH.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Office building built in 2011 in Perrysburg Township; Move‑in ready office space with a flexible layout for various professional uses; Total building size is 9,004 SF, including a 4,412 SF basement
