Standalone Flex Building with Rear
For Sale
$729,900
301 Walnut St, Perrysburg, OH 43551
Includes an office, restroom, open warehouse area, and mezzanine storage.
Property Size4,560 SF
Price / SF$160.07
Days on Market145
Property Features for 301 Walnut St
General Information
Standard status
Active
Size
4,560 SF
Property subtype
Industrial - Warehouse/Distribution
Zoning
Central Business
Site & Location
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Additional Details
Land Use
commercial, industrial
Building Details
Building Size
4,560 SF
Year Built
1973
Year Renovated
1991
Buildings
1
Listing Agency:
SVN | Ascension Commercial Realty
(419) 466-5501
Listed By:
Tim Schlachter · License ##BRKP.2017001584
Source:
Commercialcafe
Added: Apr 8
Changed: Aug 30
Last Checked: Aug 30 at 10:53AM
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 SVN | Ascension Commercial Realty
Investment Insights
Based on property information with market context.
This standalone flex property contains 4,560 SF of building area and an adjoining lot. The interior is arranged with one office, one restroom, open warehouse space, and a mezzanine storage area. A fenced-in stone lot is located at the rear of the property.
The property is at 301 Walnut St in downtown Perrysburg, directly across from the City of Perrysburg Municipal Offices. It is within the Downtown Perrysburg DORA and near recent development projects. The Central Business designation permits a variety of uses. Built in 1973, the property combines an existing flex/warehouse building with additional adjoining land.
The property is at 301 Walnut St in downtown Perrysburg, directly across from the City of Perrysburg Municipal Offices. It is within the Downtown Perrysburg DORA and near recent development projects. The Central Business designation permits a variety of uses. Built in 1973, the property combines an existing flex/warehouse building with additional adjoining land.
Key Highlights
- 4,560 SF standalone flex/warehouse building
- Adjoining lot with fenced‑in stone surface at the rear
- Interior includes 1 office, 1 restroom, open warehouse space, and mezzanine storage
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
$33,695
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
4.62%
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%
$673,900
$673.9K
Cap Rate 7%
$481,357
$481.4K
Cap Rate 9%
$374,389
$374.4K
Market Conditions
NOI Build-Up for 4,560 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
$43.2K $9.48/SF
− Vacancy
−$3.6K −$0.79/SF
EGI
$39.6K $8.69/SF
− OpEx
−$5.9K −$1.30/SF
NOI
$33.7K $7.39/SF
Area
Wood County, OH
Vacancy
8.30%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
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%
$673,900
Cap Rate 7%
$481,357
Cap Rate 9%
$374,389
Alternative Uses
Best Use
Warehouse
$481.4K
$421.2K – $561.6K
NOI $33,695 @ 7.0% cap · market cap 4.62%
Second Best
Industrial
$402.5K
$352.2K – $469.5K
NOI $28,172 @ 7.0% cap · market cap 3.86%
Theoretical Best
Office A
$1.06M
$929.4K – $1.24M
NOI $74,349 @ 7.0% cap · market cap 10.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
480
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Includes an office, restroom, open warehouse area, and mezzanine storage.
Where is this flex space located?
The property is located at 301 Walnut St Perrysburg, OH.
What is the asking price?
The asking price for this property is $729,900.
What are key features of this property?
This property features: 4,560 SF standalone flex/warehouse building; Adjoining lot with fenced‑in stone surface at the rear; Interior includes 1 office, 1 restroom, open warehouse space, and mezzanine storage
