Office Building with Electronic
New
For Sale
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4747 Monroe Street, Toledo, OH 43623
Regional Commercial-zoned office property with adaptable space and prominent on-site electronic identification.
Property Size18,760 SF
Lot Size1.87 Acres
Price / SF$98.61
Days on Market5
Property Features for 4747 Monroe Street
General Information
Standard status
Active
Size
18,760 SF
Lot size
1.87 Acres
Property subtype
Office
Zoning
Regional Commercial
Additional Details
Highway Access
Yes
Amenities
electronic billboard
Building Details
Buildings
1
Building Size
18,760 SF
Listing Agency:
Reichle | Klein Group
Listed By:
Ryan Miller · License #OH 2011003129
(419) 861-1100
Source:
Crexi
Added: Sep 1
Changed: Sep 4
Last Checked: Sep 4 at 3:26PM
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 Reichle | Klein Group
Investment Insights
Based on property information with market context.
This office property includes approximately 18,760 square feet within a building on 1.87 acres. The interior configuration is described as flexible, supporting potential retail, medical, educational, professional office, and service-oriented applications. Regional Commercial zoning further defines the property’s commercial setting, while an electronic billboard provides identification visible from the site.
The property is located at 4747 Monroe Street in Toledo, within the established Monroe Street retail corridor and near Franklin Park Mall. Access to I-475 connects the site with Toledo and the surrounding metropolitan area. Its location along a busy commercial thoroughfare combines a substantial building footprint, adaptable configuration, and prominent roadside identification.
The property is located at 4747 Monroe Street in Toledo, within the established Monroe Street retail corridor and near Franklin Park Mall. Access to I-475 connects the site with Toledo and the surrounding metropolitan area. Its location along a busy commercial thoroughfare combines a substantial building footprint, adaptable configuration, and prominent roadside identification.
Key Highlights
- Approximately 18,760‑square‑foot building on 1.87 acres
- Regional Commercial zoning
- Flexible configuration for retail, medical, educational, office, and service‑oriented uses
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$122,310
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.61%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,446,200
$2.4M
Cap Rate 7%
$1,747,286
$1.7M
Cap Rate 9%
$1,359,000
$1.4M
Market Conditions
NOI Build-Up for 18,760 SF
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.
Gross rent
$189.1K $10.08/SF
− Vacancy
−$14.4K −$0.77/SF
EGI
$174.7K $9.31/SF
− OpEx
−$52.4K −$2.79/SF
NOI
$122.3K $6.52/SF
Area
Toledo, OH
Vacancy
7.60%
Lease Rate
$10.08 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,446,200
Cap Rate 7%
$1,747,286
Cap Rate 9%
$1,359,000
Alternative Uses
Best Use
Office B
$2.44M
$2.13M – $2.85M
NOI $170,739 @ 7.0% cap · market cap 9.23%
Second Best
Retail
$1.75M
$1.53M – $2.04M
NOI $122,310 @ 7.0% cap · market cap 6.61%
Theoretical Best
Office A
$3.12M
$2.73M – $3.64M
NOI $218,546 @ 7.0% cap · market cap 11.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,492
Businesses Nearby
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Regional Commercial-zoned office property with adaptable space and prominent on-site electronic identification.
Where is this office building located?
The property is located at 4747 Monroe Street Toledo, OH.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Approximately 18,760‑square‑foot building on 1.87 acres; Regional Commercial zoning; Flexible configuration for retail, medical, educational, office, and service‑oriented uses
