Top-Floor Office Condo with
For Sale
$800,000
401 Adams St, Toledo, OH 43604
Pristine top-floor office condominium includes a rooftop terrace and secured entry with newer elevator and temperature control.
Property Size6,870 SF
Price / SF$116.45
Days on Market137
Property Features for 401 Adams St
General Information
Standard status
Active
Size
6,870 SF
Total Parking Spaces
5
Property subtype
Office
Zoning
CD
Building Details
Building Size
6,870 SF
Year Built
1920
Stories
3
Listing Agency:
Signature Associates - Toledo
Listed By:
Robert Mack
(419) 466-6225
Source:
Cpix.resimplifi
Added: Jun 5
Changed: Oct 10
Last Checked: Oct 16 at 5:54AM
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
Based on property information with market context.
This pristine top-floor condominium presents as an office unit with a beautiful outside rooftop terrace. The property includes coded door entry and a secured bridge walkway with a video doorbell system. Major upgrades noted include a newer elevator car and a temperature-controlled elevator room, waterproofed windows for exterior areas, and newer sinks and countertops. The outside terrace features a newer wood plank floor. On the interior, the first-floor lobby area is exclusive to the third-floor condominium.
The unit was formerly used as a childcare center, and the declarations, bylaws, and related easement agreements are on file. The seller has also granted the adjacent condominium owner a Right of First Refusal on the sale of “Condo Unit 3.” That adjacent owner has 10 days upon receiving a bona fide third-party offer to either agree to purchase under the same terms or refuse to purchase the unit.
For reference, the property is located at 401 Adams St, Toledo, OH 43604.
The unit was formerly used as a childcare center, and the declarations, bylaws, and related easement agreements are on file. The seller has also granted the adjacent condominium owner a Right of First Refusal on the sale of “Condo Unit 3.” That adjacent owner has 10 days upon receiving a bona fide third-party offer to either agree to purchase under the same terms or refuse to purchase the unit.
For reference, the property is located at 401 Adams St, Toledo, OH 43604.
Key Highlights
- Top‑floor office condominium in a 1920‑built building with an outside rooftop terrace
- Coded door entry system plus secured bridge walkway with video doorbell system
- Newer elevator car and temperature control within the elevator room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,526
Cap Rate
7.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,250,520
$1.3M
Cap Rate 7%
$893,229
$893.2K
Cap Rate 9%
$694,733
$694.7K
Market Conditions
NOI Build-Up for 6,870 SF
Gross rent
$103.1K $15.00/SF
− Vacancy
−$19.7K −$2.87/SF
EGI
$83.4K $12.14/SF
− OpEx
−$20.8K −$3.03/SF
NOI
$62.5K $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%
$1,250,520
Cap Rate 7%
$893,229
Cap Rate 9%
$694,733
Alternative Uses
Best Use
Office B
$893.2K
$781.6K – $1.04M
NOI $62,526 @ 7.0% cap · market cap 7.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.14M
$1.00M – $1.33M
NOI $80,033 @ 7.0% cap · market cap 10.00%
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 units - Pristine top-floor office condominium includes a rooftop terrace and secured entry with newer elevator and temperature control.
Where is this office units located?
The property is located at 401 Adams St Toledo, OH.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Top‑floor office condominium in a 1920‑built building with an outside rooftop terrace; Coded door entry system plus secured bridge walkway with video doorbell system; Newer elevator car and temperature control within the elevator room
