Triplex with Three-Car
For Sale
$279,900
5753 Main St, Sylvania, OH 43560
Multifamily property offering a practical mix of one- and two-bedroom units with parking and garage space.
Property Size2,092 SF
Days on Market154
Property Features for 5753 Main St
General Information
Standard status
Active
Size
2,092 SF
Property subtype
MultiFamily Apartments
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
2 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
3
Building Details
Building Size
2,092 SF
Year Built
1870
Buildings
1
Listing Agency:
NAI Harmon
(419) 460-4410
Listed By:
Stephanie Kuhlman · License #SAL.2012001174
(419) 460-4410
Source:
Thebrokerlist
Added: Mar 31
Changed: Aug 29
Last Checked: Aug 29 at 3:17PM
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 NAI Harmon
Investment Insights
Based on property information with market context.
This triplex multifamily property contains two 1 bed/1 bath units and one 2 bed/1 bath unit. Built in 1870, the property includes a 3 car garage, surface parking, and a large flat lot along Main Street.
The property is in downtown Sylvania, near the Red Bird entertainment and DORA Area, with retail, restaurants, entertainment, and healthcare nearby. US 223/I-475 is one mile away, and the site is just south of the Michigan border. The property is served by Sylvania Schools.
The property is in downtown Sylvania, near the Red Bird entertainment and DORA Area, with retail, restaurants, entertainment, and healthcare nearby. US 223/I-475 is one mile away, and the site is just south of the Michigan border. The property is served by Sylvania Schools.
Key Highlights
- Triplex with 2 - 1 bed/1 bath units and 1 - 2 bed/1 bath unit
- 3 car garage and large surface parking
- Large flat lot on the west side of 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
$16,846
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
6.02%
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%
$336,920
$336.9K
Cap Rate 7%
$240,657
$240.7K
Cap Rate 9%
$187,178
$187.2K
Market Conditions
NOI Build-Up for 2,092 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
$25.9K $12.36/SF
− Vacancy
−$1.8K −$0.86/SF
EGI
$24.1K $11.50/SF
− OpEx
−$7.2K −$3.45/SF
NOI
$16.8K $8.05/SF
Area
Lucas County, OH
Vacancy
6.93%
Lease Rate
$12.36 /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%
$336,920
Cap Rate 7%
$240,657
Cap Rate 9%
$187,178
Alternative Uses
Best Use
Multifamily LT 5
$240.7K
$210.6K – $280.8K
NOI $16,846 @ 7.0% cap · market cap 6.02%
Second Best
Apartment 5plus
$210.3K
$184.0K – $245.3K
NOI $14,719 @ 7.0% cap · market cap 5.26%
Theoretical Best
Specialty Retail
$382.9K
$335.0K – $446.7K
NOI $26,802 @ 7.0% cap · market cap 9.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
543
Businesses Nearby
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 Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Multifamily property offering a practical mix of one- and two-bedroom units with parking and garage space.
Where is this triplex located?
The property is located at 5753 Main St Sylvania, OH.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: Triplex with 2 - 1 bed/1 bath units and 1 - 2 bed/1 bath unit; 3 car garage and large surface parking; Large flat lot on the west side of Main Street
