Curb-Front Storefront
For Sale
$269,000
5687 - 5689 Main St, Sylvania, OH 43560
B-3 zoning supports a range of uses in Sylvania’s Central Business District.
Property Size1,450 SF
Days on Market152
Property Features for 5687 - 5689 Main St
General Information
Standard status
Active
Size
1,450 SF
Class
C
Property subtype
Retail - Street Retail
Building Details
Building Size
1,450 SF
Year Built
1901
Year Renovated
2023
Units
2
Listing Agency:
SVN | Ascension Commercial Realty
(419) 654-1158
Listed By:
Stephanie Pilgrim · License ##SAL.2019004374
Source:
Commercialcafe
Added: Apr 1
Changed: Aug 29
Last Checked: Aug 29 at 1:17PM
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 SVN | Ascension Commercial Realty
Investment Insights
Based on property information with market context.
This 1,450-square-foot storefront building dates to 1901 and is fully leased. Its curb-front configuration places the commercial space directly along Main Street in downtown Sylvania.
The property is positioned within the Sylvania Business District, with restaurants, businesses, galleries, and boutiques located within walking distance. It also falls within the Sylvania DORA, or Designated Outdoor Refreshment Area. B-3, Central Business District zoning allows for a variety of uses.
The property is positioned within the Sylvania Business District, with restaurants, businesses, galleries, and boutiques located within walking distance. It also falls within the Sylvania DORA, or Designated Outdoor Refreshment Area. B-3, Central Business District zoning allows for a variety of uses.
Key Highlights
- 1,450 SF fully leased storefront building
- 1901 construction year
- Curb‑front position on Main Street
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
$10,331
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
3.84%
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%
$206,620
$206.6K
Cap Rate 7%
$147,586
$147.6K
Cap Rate 9%
$114,789
$114.8K
Market Conditions
NOI Build-Up for 1,450 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
$16.2K $11.16/SF
− Vacancy
−$1.4K −$0.98/SF
EGI
$14.8K $10.18/SF
− OpEx
−$4.4K −$3.05/SF
NOI
$10.3K $7.12/SF
Area
Lucas County, OH
Vacancy
8.80%
Lease Rate
$11.16 /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%
$206,620
Cap Rate 7%
$147,586
Cap Rate 9%
$114,789
Alternative Uses
Best Use
Retail
$147.6K
$129.1K – $172.2K
NOI $10,331 @ 7.0% cap · market cap 3.84%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$265.4K
$232.2K – $309.6K
NOI $18,577 @ 7.0% cap · market cap 6.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
659
Businesses Nearby
48k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 54%
Dining 31%
Home Improvements & Furnishings 10%
Hotels & Casinos 5%
Speedway
Shops & Services
16,746 visits/mo
0.1 miles
Fricker's
Dining
9,467 visits/mo
0.4 miles
Huntington Bank
Shops & Services
5,192 visits/mo
0.3 miles
Sylvania Hometown Hardware
Home Improvements & Furnishings
5,026 visits/mo
0.1 miles
Wingate by Wyndham Sylvania/Toledo
Hotels & Casinos
2,468 visits/mo
0.2 miles
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 Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Kroger Floral Department — 6235 Monroe St #1, Sylvania, OH 43560
Frequently Asked Questions
What type of property is this?
Storefront property - B-3 zoning supports a range of uses in Sylvania’s Central Business District.
Where is this storefront property located?
The property is located at 5687 - 5689 Main St Sylvania, OH.
What is the asking price?
The asking price for this property is $269,000.
What are key features of this property?
This property features: 1,450 SF fully leased storefront building; 1901 construction year; Curb‑front position on Main Street
