Single-Tenant Flex
For Sale
$1,470,000
500 W Indiana Ave, Perrysburg, OH 43551
Four ground-level doors and an exterior dock support loading, while a built-out portion of the upper level adds usable area.
Property Size18,912 SF
Price / SF$77.73
Days on Market9
Property Features for 500 W Indiana Ave
General Information
Standard status
Active
Size
18,912 SF
Property subtype
Industrial
Zoning
I2
Building Details
Building Size
18,912 SF
Listing Agency:
Colliers
Listed By:
Barbara Eaton
(248) 226-1822
Source:
Cpix.resimplifi
Added: Sep 28
Changed: Sep 30
Last Checked: Oct 5 at 3:13PM
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 Colliers
Investment Insights
Based on property information with market context.
This 18,912-square-foot flex property is occupied by one tenant under a lease running through December 16, 2031. Loading features include four drive-in doors and one exterior dock-high position. Ceiling heights vary across the building, reaching as much as 20 feet, and a substantial part of the second level has been built out for additional functional space. The property is zoned I2.
Key Highlights
- 18,912 square feet of flex space
- Single tenant in place through December 16, 2031
- Four drive‑in doors and one exterior dock‑high loading position
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$116,841
Cap Rate
7.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,336,820
$2.3M
Cap Rate 7%
$1,669,157
$1.7M
Cap Rate 9%
$1,298,233
$1.3M
Market Conditions
NOI Build-Up for 18,912 SF
Gross rent
$179.3K $9.48/SF
− Vacancy
−$12.4K −$0.65/SF
EGI
$166.9K $8.83/SF
− OpEx
−$50.1K −$2.65/SF
NOI
$116.8K $6.18/SF
Area
Wood County, OH
Vacancy
6.90%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,336,820
Cap Rate 7%
$1,669,157
Cap Rate 9%
$1,298,233
Alternative Uses
Best Use
Warehouse
$2.00M
$1.75M – $2.33M
NOI $139,744 @ 7.0% cap · market cap 9.51%
Second Best
Industrial
$1.67M
$1.46M – $1.95M
NOI $116,841 @ 7.0% cap · market cap 7.95%
Theoretical Best
Office A
$4.41M
$3.85M – $5.14M
NOI $308,353 @ 7.0% cap · market cap 20.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
520
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43551, OH
43,235
Population
19,434
Households
2.2
Avg Household Size
40
Median Age
50%
College-Educated
97%
High-School Grad
77.6 sq mi
ZIP Area
557
Density / Sq Mi
$91,460
Median Household Income
$58,846
Median Earnings
$1,185
Median Rent
$284,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Four ground-level doors and an exterior dock support loading, while a built-out portion of the upper level adds usable area.
Where is this flex space located?
The property is located at 500 W Indiana Ave Perrysburg, OH.
What is the asking price?
The asking price for this property is $1,470,000.
What are key features of this property?
This property features: 18,912 square feet of flex space; Single tenant in place through December 16, 2031; Four drive‑in doors and one exterior dock‑high loading position
