Leased Medical Office
4646 Nantuckett Drive Toledo, OH 43623
For Sale
Contact for pricing
20,371 SF medical/professional office building is 100% leased to four tenants with a long weighted average lease term.
Property Size20,371 SF
Price / SF$293.31
Days on Market23
Property Features for 4646 Nantuckett Drive
General Information
Standard status
Active
Size
20,371 SF
Property subtype
OFFICE
Listing Agency:
Equity Mill Real Estate
(419) 450-6854
Listed By:
Jeremy Miller · License #BRKP.2016000379
(419) 450-6854
Source:
Moodyscre
Added: Jul 7
Changed: Jul 26
Last Checked: Jul 28 at 3:14PM
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 Equity Mill Real Estate
Investment Insights
Based on property information with market context.
Nantuckett Professional Plaza is a 20,371-square-foot, well-maintained medical/professional office property built between 2003 and 2014 and configured with approximately 92% medical office space. The tenant roster is comprised of four established medical and professional tenants, providing 100% occupancy. Harbor Light Oral & Maxillofacial Surgeons anchors the building with approximately 57% of the space under a recently executed 10-year triple-net lease extending through 2036.
Recent capital improvements include a new roof completed in 2026, along with ongoing maintenance and updates intended to support operating efficiency. The property also includes approximately 110 parking spaces on 2.72 acres.
The current lease profile reflects an approximately 7.9-year weighted average lease term, with limited near-term rollover exposure, as approximately 10% of rentable area expires prior to 2030. Additional tenants include The Toledo Clinic, Dental365, and Edward Jones, creating a diversified rent roll supported by long-term healthcare tenancy.
Recent capital improvements include a new roof completed in 2026, along with ongoing maintenance and updates intended to support operating efficiency. The property also includes approximately 110 parking spaces on 2.72 acres.
The current lease profile reflects an approximately 7.9-year weighted average lease term, with limited near-term rollover exposure, as approximately 10% of rentable area expires prior to 2030. Additional tenants include The Toledo Clinic, Dental365, and Edward Jones, creating a diversified rent roll supported by long-term healthcare tenancy.
Key Highlights
- 20,371 SF Class A medical/professional office building on 2.72 acres in a 100% leased, four‑tenant setup
- Approximately 7.9‑year weighted average lease term (WALT) with limited near‑term rollover—about 10% of rentable area expiring prior to 2030
- Harbor Light Oral & Maxillofacial Surgeons leases about 57% of the building under a new 10‑year triple‑net (NNN) lease through 2036
Financial Insights For Healthcare Medical
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 | $342.2k | $16.80 |
| − Vacancy | −$27.4k | −$1.34 |
| EGI | $314.9k | $15.46 |
| − OpEx | −$125.9k | −$6.18 |
| NOI | $188.9k | $9.27 |
20,371 SF · lease $16.80/SF/yr · vacancy 8.00% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$2.70M
$2.36M – $3.15M
NOI $188,913 @ 7.0% cap · market cap 3.16%
Second Best
Office B
$2.65M
$2.32M – $3.09M
NOI $185,402 @ 7.0% cap · market cap 3.10%
Theoretical Best
Office A
$3.39M
$2.97M – $3.96M
NOI $237,314 @ 7.0% cap · market cap 3.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
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- Petco Vaccination Clinic — 5027 Monroe St, Toledo, OH 43623
- West Brooke DVM — toledo, oh 43623
- North Jr Wayne DVM — Toledo, OH 43623
Frequently Asked Questions
What type of property is this?
Medical Office Space - 20,371 SF medical/professional office building is 100% leased to four tenants with a long weighted average lease term.
Where is this medical office space located?
The property is located at 4646 Nantuckett Drive Toledo, OH.
What is the asking price?
The asking price for this property is $5,975,000.
What are key features of this property?
This property features: 20,371 SF Class A medical/professional office building on 2.72 acres in a 100% leased, four‑tenant setup; Approximately 7.9‑year weighted average lease term (WALT) with limited near‑term rollover—about 10% of rentable area expiring prior to 2030; Harbor Light Oral & Maxillofacial Surgeons leases about 57% of the building under a new 10‑year triple‑net (NNN) lease through 2036
