Updated Two-Unit
For Sale
$189,900
5755 Summit St, Sylvania, OH 43560
Two one-bedroom, one-bath units feature basement laundry and interior updates completed as occupancy changed.
Property Size1,696 SF
Days on Market152
Property Features for 5755 Summit St
General Information
Standard status
Active
Size
1,696 SF
Property subtype
Multi-Family
Building Details
Building Size
1,696 SF
Year Built
1897
Units
2
Listing Agency:
NAI Harmon Group
(419) 351-1146
Listed By:
Stephanie Kuhlman · License #SAL.2012001174
Source:
Commercialcafe
Added: Apr 1
Changed: Aug 29
Last Checked: Aug 29 at 1:12PM
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 Group
Investment Insights
Based on property information with market context.
This duplex contains two one-bedroom, one-bath residences within a building constructed in 1897. Interior improvements have been completed as tenants transitioned, and laundry facilities are located in the basement. The property is offered at 5755 Summit St in Sylvania, Ohio, in the Redbird District and DORA District.
The property sits north of downtown, between Maplewood Ave and Erie St. US-223/I-475 is approximately one mile away, while retail, restaurants, recreation, and medical providers are nearby. Maplewood Elementary School and Northview High School are within walking distance. The property is also positioned just south of the Michigan/Ohio state line.
The property sits north of downtown, between Maplewood Ave and Erie St. US-223/I-475 is approximately one mile away, while retail, restaurants, recreation, and medical providers are nearby. Maplewood Elementary School and Northview High School are within walking distance. The property is also positioned just south of the Michigan/Ohio state line.
Key Highlights
- Two one‑bedroom, one‑bath units
- Basement laundry facilities
- Interior updates completed as tenants transitioned
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
$13,657
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
7.19%
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%
$273,140
$273.1K
Cap Rate 7%
$195,100
$195.1K
Cap Rate 9%
$151,744
$151.7K
Market Conditions
NOI Build-Up for 1,696 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
$21.0K $12.36/SF
− Vacancy
−$1.5K −$0.86/SF
EGI
$19.5K $11.50/SF
− OpEx
−$5.9K −$3.45/SF
NOI
$13.7K $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%
$273,140
Cap Rate 7%
$195,100
Cap Rate 9%
$151,744
Alternative Uses
Best Use
Multifamily LT 5
$195.1K
$170.7K – $227.6K
NOI $13,657 @ 7.0% cap · market cap 7.19%
Second Best
Apartment 5plus
$170.5K
$149.2K – $198.9K
NOI $11,933 @ 7.0% cap · market cap 6.28%
Theoretical Best
Specialty Retail
$310.4K
$271.6K – $362.1K
NOI $21,728 @ 7.0% cap · market cap 11.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
484
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?
Duplex - Two one-bedroom, one-bath units feature basement laundry and interior updates completed as occupancy changed.
Where is this duplex located?
The property is located at 5755 Summit St Sylvania, OH.
What is the asking price?
The asking price for this property is $189,900.
What are key features of this property?
This property features: Two one‑bedroom, one‑bath units; Basement laundry facilities; Interior updates completed as tenants transitioned
