Top-Floor Office Condo with
401 Adams St Toledo, OH 43604
401 Adams St, Toledo, OH, 43604
$700,000
For Sale
$700,000
Pristine top-floor office condominium includes a rooftop terrace and secured entry with newer elevator and temperature control.
Property Size6,870 SF
Price / SF$101.89
Days on Market46
Property Features for 401 Adams St
General Information
- Standard status
- Active
- Size
- 6,870 SF
- Property subtype
- Office
Building Details
- Year Built
- 1920
Listing Agency
Signature Associates - Toledo
(419) 466-6225
Listed by
Robert Mack
(419) 466-6225
Source
Cpix.resimplifi
Added: Jun 5 Checked: Jul 19 at 1:46 am
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 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
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $103.1k | $15.00 |
| − Vacancy | −$19.7k | −$2.87 |
| EGI | $83.4k | $12.14 |
| − OpEx | −$20.8k | −$3.03 |
| NOI | $62.5k | $9.10 |
6,870 SF · lease $15.00/SF/yr · vacancy 19.10% · expense 25.00%
Alternative Uses
Best Use
Office B
$893.2K
$781.6K – $1.04M
NOI $62,526 @ 7.0% cap · market cap 8.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.14M
$1.00M – $1.33M
NOI $80,033 @ 7.0% cap · market cap 11.43%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Us Xpress Inc
Freight Service
Midland Title and Escrow, ...
Title Company
The Bounty Collegium
Charitable Organization
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FAQs
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 $700,000.
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
