Masonry Warehouse
For Sale
Contact for pricing
5444 Schultz Dr, Sylvania, OH 43560
Masonry construction and access to major regional roadways support a practical industrial facility.
Property Size10,208 SF
Price / SF$75.92
Days on Market181
Property Features for 5444 Schultz Dr
General Information
Standard status
Active
Size
10,208 SF
Property subtype
Industrial
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Additional Details
Highway Access
Yes
Building Details
Buildings
1
Stories
1
Tenancy
Single
Building Size
10,208 SF
Construction
masonry
Listing Agency:
Encore Real Estate Investment Services
(248) 702-0299
Listed By:
Deno Bistolarides · License #6502378067
Source:
Crexi
Added: Mar 2
Changed: Aug 29
Last Checked: Aug 29 at 4:04PM
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 10,208-square-foot warehouse property features masonry construction and is positioned for industrial and warehouse operations. The building’s masonry design provides a durable physical foundation for ongoing commercial use, while the facility’s size supports a range of warehouse-oriented configurations.
Access is available to I-475/23, Monroe Street, and US-23, connecting the property with regional transportation routes. The site is also near national retailers and established commercial corridors in Sylvania, Ohio, providing a commercial setting within the broader Toledo suburban market.
Access is available to I-475/23, Monroe Street, and US-23, connecting the property with regional transportation routes. The site is also near national retailers and established commercial corridors in Sylvania, Ohio, providing a commercial setting within the broader Toledo suburban market.
Key Highlights
- 10,208 SF industrial and warehouse facility
- Masonry construction
- Access to I‑475/23, Monroe Street, and US‑23
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
$65,953
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
8.51%
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%
$1,319,060
$1.3M
Cap Rate 7%
$942,186
$942.2K
Cap Rate 9%
$732,811
$732.8K
Market Conditions
NOI Build-Up for 10,208 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
$79.6K $7.80/SF
− Vacancy
−$2.0K −$0.20/SF
EGI
$77.6K $7.60/SF
− OpEx
−$11.6K −$1.14/SF
NOI
$66.0K $6.46/SF
Area
Lucas County, OH
Vacancy
2.55%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
15.00%
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%
$1,319,060
Cap Rate 7%
$942,186
Cap Rate 9%
$732,811
Alternative Uses
Best Use
Warehouse
$942.2K
$824.4K – $1.10M
NOI $65,953 @ 7.0% cap · market cap 8.51%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.87M
$1.63M – $2.18M
NOI $130,780 @ 7.0% cap · market cap 16.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
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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Frequently Asked Questions
What type of property is this?
Warehouse - Masonry construction and access to major regional roadways support a practical industrial facility.
Where is this warehouse located?
The property is located at 5444 Schultz Dr Sylvania, OH.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: 10,208 SF industrial and warehouse facility; Masonry construction; Access to I‑475/23, Monroe Street, and US‑23
