5-Unit Apartment
For Sale
$559,900
616 Louisiana Ave, Perrysburg, OH 43551
Renovated multifamily property with updated building systems, finishes, appliances, and fixtures throughout.
Property Size3,354 SF
Price / SF$166.94
Days on Market32
Property Features for 616 Louisiana Ave
General Information
Standard status
Active
Size
3,354 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
5
Listing Agency:
Loss Realty Group
(419) 699-6017
Listed By:
Taylor Andrew McNeill
(419) 699-6017
Source:
Exprealty
Added: Jul 22
Changed: Aug 20
Last Checked: Aug 22 at 12:45PM
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 Loss Realty Group
Investment Insights
Based on property information with market context.
Located at 616 Louisiana Ave in Perrysburg, Ohio, this five-unit apartment property contains 3,354 square feet. The building has been comprehensively renovated, including replacement roofs, windows, exterior finishes, and interior finishes.
Interior improvements extend across the flooring, doors, cabinetry, fixtures, and appliances. The updated components were professionally finished and installed, providing a cohesive residential income property with substantial renovation work completed.
Interior improvements extend across the flooring, doors, cabinetry, fixtures, and appliances. The updated components were professionally finished and installed, providing a cohesive residential income property with substantial renovation work completed.
Key Highlights
- Five‑unit apartment property in Perrysburg, Ohio
- 3,354 square feet of property size
- Replacement roofs and windows
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
$25,866
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
4.62%
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%
$517,320
$517.3K
Cap Rate 7%
$369,514
$369.5K
Cap Rate 9%
$287,400
$287.4K
Market Conditions
NOI Build-Up for 3,354 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
$49.5K $14.76/SF
− Vacancy
−$2.5K −$0.74/SF
EGI
$47.0K $14.02/SF
− OpEx
−$21.2K −$6.31/SF
NOI
$25.9K $7.71/SF
Area
Wood County, OH
Vacancy
5.00%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
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%
$517,320
Cap Rate 7%
$369,514
Cap Rate 9%
$287,400
Alternative Uses
Best Use
Apartment 5plus
$369.5K
$323.3K – $431.1K
NOI $25,866 @ 7.0% cap · market cap 4.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$781.2K
$683.6K – $911.4K
NOI $54,686 @ 7.0% cap · market cap 9.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
557
Businesses Nearby
Explore this area
Business Placement
Demographics for 43551, OH
43,235
Population
19,434
Households
2.2
Avg Household Size
40
Median Age
50%
College-Educated
97%
High-School Grad
77.6 sq mi
ZIP Area
557
Density / Sq Mi
$91,460
Median Household Income
$58,846
Median Earnings
$1,185
Median Rent
$284,800
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?
Apartment building - Renovated multifamily property with updated building systems, finishes, appliances, and fixtures throughout.
Where is this apartment building located?
The property is located at 616 Louisiana Ave Perrysburg, OH.
What is the asking price?
The asking price for this property is $559,900.
What are key features of this property?
This property features: Five‑unit apartment property in Perrysburg, Ohio; 3,354 square feet of property size; Replacement roofs and windows
