Two-Tenant Flex
For Sale
Contact for pricing
5439 Roan Road, Sylvania, OH 43560
Fully leased light-industrial property with two equal-sized suites and lease commitments extending through 2028.
Property Size5,800 SF
Price / SF$77.59
Days on Market11
Property Features for 5439 Roan Road
General Information
Standard status
Active
Size
5,800 SF
Property subtype
Industrial
Zoning
31-M1 Light Industrial
Occupancy
100%
Net Operating Income
$38,783
Financials
Asking Price
$450,000
Cap Rate
8.62%
Additional Details
Highway Access
Yes
Building Details
Year Built
1983
Buildings
1
Tenancy
Multi
Building Size
5,800 SF
Listing Agency:
Encore Real Estate Investment Services
(248) 702-0288
Listed By:
Deno Bistolarides · License #6502378067
Source:
Crexi
Added: Aug 11
Changed: Aug 18
Last Checked: Aug 20 at 7:15PM
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 Encore Real Estate Investment Services
Investment Insights
Based on property information with market context.
This 5,800 SF flex building contains two 2,900 SF suites occupied by separate tenants. The property is 100% leased, with both lease terms extending through 2028. Constructed in 1983, the building carries 31-M1 Light Industrial zoning and is configured as a small-bay commercial asset.
The property is located 0.9 miles from the I-475/US-23 interchange, with access to the commercial corridor near Alexis Road and Monroe Street. Nearby retail and service destinations include Target, Marshalls, Ross, Chase, Wendy’s, McDonald’s, and ProMedica Health & Wellness Center. The asset reports an 8.62% cap rate and offers established occupancy within the Sylvania market.
The property is located 0.9 miles from the I-475/US-23 interchange, with access to the commercial corridor near Alexis Road and Monroe Street. Nearby retail and service destinations include Target, Marshalls, Ross, Chase, Wendy’s, McDonald’s, and ProMedica Health & Wellness Center. The asset reports an 8.62% cap rate and offers established occupancy within the Sylvania market.
Key Highlights
- 5,800 SF flex building with two 2,900 SF tenant suites
- 100% leased to two tenants with leases extending through 2028
- 31‑M1 Light Industrial zoning
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
$36,592
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
8.13%
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%
$731,840
$731.8K
Cap Rate 7%
$522,743
$522.7K
Cap Rate 9%
$406,578
$406.6K
Market Conditions
NOI Build-Up for 5,800 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
$57.8K $9.96/SF
− Vacancy
−$1.5K −$0.25/SF
EGI
$56.3K $9.71/SF
− OpEx
−$19.7K −$3.40/SF
NOI
$36.6K $6.31/SF
Area
Lucas County, OH
Vacancy
2.55%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
35.00%
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%
$731,840
Cap Rate 7%
$522,743
Cap Rate 9%
$406,578
Alternative Uses
Best Use
Flex RnD
$522.7K
$457.4K – $609.9K
NOI $36,592 @ 7.0% cap · market cap 8.13%
Second Best
Industrial
$440.9K
$385.8K – $514.3K
NOI $30,860 @ 7.0% cap · market cap 6.86%
Theoretical Best
Specialty Retail
$1.06M
$928.8K – $1.24M
NOI $74,307 @ 7.0% cap · market cap 16.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
814
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43560, OH
34,204
Population
13,107
Households
2.6
Avg Household Size
42
Median Age
53%
College-Educated
98%
High-School Grad
21.2 sq mi
ZIP Area
1,613
Density / Sq Mi
$104,865
Median Household Income
$59,940
Median Earnings
$1,102
Median Rent
$262,200
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Chef Charine — 5679 Monroe St Unit 904, Sylvania, OH 43560
Frequently Asked Questions
What type of property is this?
Flex space - Fully leased light-industrial property with two equal-sized suites and lease commitments extending through 2028.
Where is this flex space located?
The property is located at 5439 Roan Road Sylvania, OH.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 5,800 SF flex building with two 2,900 SF tenant suites; 100% leased to two tenants with leases extending through 2028; 31‑M1 Light Industrial zoning
