Absolute NNN Medical Office
For Sale
Contact for pricing
315 S Detroit Ave, Toledo, OH 43609
Six-building regional medical office portfolio with absolute NNN leases and thirteen years of remaining term.
Property Size21,618 SF
Price / SF$226.66
Days on Market94
Property Features for 315 S Detroit Ave
General Information
Standard status
Active
Size
21,618 SF
Property subtype
RETAIL
Occupancy
100%
Site & Location
Neighborhood
Alicia Smith, Director
Building Details
Buildings
6
Tenancy
Multi
Listing Agency:
SVN Ascension
(419) 540-8888
Listed By:
Mike Scannell · License #292744
(419) 351-4918
Source:
Moodyscre
Added: Jul 29
Changed: Oct 26
Last Checked: Oct 28 at 12:21PM
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
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Investment Insights
Based on property information with market context.
This six-building medical office portfolio is for sale and totals 21,618 SF. The portfolio includes five single-tenant buildings and one multi-tenant building, and it is described as 100% occupied. Buildings are noted as newly renovated.
The portfolio is supported by absolute NNN leases, averaging thirteen years of remaining term, with rent bumps every two years. The primary tenant is PT Link, identified as an anchor tenant across all properties.
The collection is described as being strategically located across Ohio and Michigan, including Toledo, Fostoria, Carey, and New Carlisle, Ohio, as well as Tecumseh and Monroe, Michigan, with the listed address at 315 S Detroit Ave, Toledo, OH 43609.
The portfolio is supported by absolute NNN leases, averaging thirteen years of remaining term, with rent bumps every two years. The primary tenant is PT Link, identified as an anchor tenant across all properties.
The collection is described as being strategically located across Ohio and Michigan, including Toledo, Fostoria, Carey, and New Carlisle, Ohio, as well as Tecumseh and Monroe, Michigan, with the listed address at 315 S Detroit Ave, Toledo, OH 43609.
Key Highlights
- Six‑building medical office portfolio totaling 21,618 SF
- Absolute NNN leases averaging thirteen years of remaining term
- Rent bumps every two years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$200,477
Cap Rate
4.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,009,540
$4.0M
Cap Rate 7%
$2,863,957
$2.9M
Cap Rate 9%
$2,227,522
$2.2M
Market Conditions
NOI Build-Up for 21,618 SF
Gross rent
$363.2K $16.80/SF
− Vacancy
−$29.1K −$1.34/SF
EGI
$334.1K $15.46/SF
− OpEx
−$133.7K −$6.18/SF
NOI
$200.5K $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 Rate 5%
$4,009,540
Cap Rate 7%
$2,863,957
Cap Rate 9%
$2,227,522
Alternative Uses
Best Use
Healthcare Medical
$2.86M
$2.51M – $3.34M
NOI $200,477 @ 7.0% cap · market cap 4.09%
Second Best
Office B
$2.81M
$2.46M – $3.28M
NOI $196,751 @ 7.0% cap · market cap 4.02%
Theoretical Best
Office A
$3.60M
$3.15M – $4.20M
NOI $251,841 @ 7.0% cap · market cap 5.14%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
234
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43609, OH
20,519
Population
10,272
Households
2
Avg Household Size
34
Median Age
11%
College-Educated
79%
High-School Grad
4.8 sq mi
ZIP Area
4,275
Density / Sq Mi
$42,510
Median Household Income
$32,819
Median Earnings
$913
Median Rent
$58,700
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Medical Office Space - Six-building regional medical office portfolio with absolute NNN leases and thirteen years of remaining term.
Where is this medical office space located?
The property is located at 315 S Detroit Ave Toledo, OH.
What is the asking price?
The asking price for this property is $4,900,000.
What are key features of this property?
This property features: Six‑building medical office portfolio totaling 21,618 SF; Absolute NNN leases averaging thirteen years of remaining term; Rent bumps every two years
