Leased Medical Office
For Sale
Contact for pricing
4646 Nantuckett Drive, Toledo, OH 43623
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$281.04
Days on Market113
Property Features for 4646 Nantuckett Drive
General Information
Standard status
Active
Size
20,371 SF
Class
A
Total Parking Spaces
110
Property subtype
Office
Zoning
C-R
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$419,978
Building Details
Year Built
2004
Year Renovated
2026
Buildings
1
Stories
1
Units
5
Tenancy
Multi
Listing Agency:
Equity Mill Real Estate
Listed By:
Jeremy Miller · License #OH BRKP.2016000379
(419) 450-6854
Source:
Crexi
Added: Jul 7
Changed: Oct 25
Last Checked: Oct 26 at 2:50PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
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
Estimated NOI and Cap Rate
NOI / Yr
$188,913
Cap Rate
3.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,778,260
$3.8M
Cap Rate 7%
$2,698,757
$2.7M
Cap Rate 9%
$2,099,033
$2.1M
Market Conditions
NOI Build-Up for 20,371 SF
Gross rent
$342.2K $16.80/SF
− Vacancy
−$27.4K −$1.34/SF
EGI
$314.9K $15.46/SF
− OpEx
−$125.9K −$6.18/SF
NOI
$188.9K $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%
$3,778,260
Cap Rate 7%
$2,698,757
Cap Rate 9%
$2,099,033
Alternative Uses
Best Use
Healthcare Medical
$2.70M
$2.36M – $3.15M
NOI $188,913 @ 7.0% cap · market cap 3.30%
Second Best
Office B
$2.65M
$2.32M – $3.09M
NOI $185,402 @ 7.0% cap · market cap 3.24%
Theoretical Best
Office A
$3.39M
$2.97M – $3.96M
NOI $237,314 @ 7.0% cap · market cap 4.15%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,076
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 43623, OH
20,320
Population
10,056
Households
2
Avg Household Size
43
Median Age
31%
College-Educated
93%
High-School Grad
6.7 sq mi
ZIP Area
3,033
Density / Sq Mi
$65,908
Median Household Income
$40,496
Median Earnings
$933
Median Rent
$167,500
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
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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 $5,725,000.
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
