First-Floor Office Condo with
For Sale
Contact for pricing
6400 Monroe Street, Sylvania, OH 43560
First-floor suburban office condo includes a private west-side courtyard, lobby signage, and shared bathroom access.
Property Size1,460 SF
Price / SF$273.97
Days on Market99
Property Features for 6400 Monroe Street
General Information
Standard status
Active
Size
1,460 SF
Property subtype
Office
Amenities
private courtyard
lobby signage
shared bathrooms
vaulted shared entry
Listing Agency:
Reichle | Klein Group
Listed By:
Marty Gallagher, SIOR · License #OH 0000334781
Source:
Crexi
Added: Jun 4
Changed: Aug 14
Last Checked: Sep 10 at 7:49AM
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 Reichle | Klein Group
Investment Insights
Based on property information with market context.
This first-floor suburban office condo is well suited for a range of small professional, medical, and business service users. The unit includes a private courtyard located on the west side of the suite, along with lobby signage for visibility from the shared entry. Shared bathrooms are available within the vaulted shared entry area.
The property is located at 6400 Monroe Street in Sylvania, Ohio. Access is provided through the shared, vaulted entry and lobby area serving the office condos.
The space is configured as an individual office condo with courtyard space and interior access tied to the building’s shared lobby and bathroom facilities.
The property is located at 6400 Monroe Street in Sylvania, Ohio. Access is provided through the shared, vaulted entry and lobby area serving the office condos.
The space is configured as an individual office condo with courtyard space and interior access tied to the building’s shared lobby and bathroom facilities.
Key Highlights
- First‑floor suburban office condo
- Private west‑side courtyard included with the unit
- Lobby signage provided
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
$12,073
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
3.02%
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%
$241,460
$241.5K
Cap Rate 7%
$172,471
$172.5K
Cap Rate 9%
$134,144
$134.1K
Market Conditions
NOI Build-Up for 1,460 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
$19.3K $13.20/SF
− Vacancy
−$3.2K −$2.17/SF
EGI
$16.1K $11.03/SF
− OpEx
−$4.0K −$2.76/SF
NOI
$12.1K $8.27/SF
Area
Lucas County, OH
Vacancy
16.47%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
25.00%
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%
$241,460
Cap Rate 7%
$172,471
Cap Rate 9%
$134,144
Alternative Uses
Best Use
Office B
$172.5K
$150.9K – $201.2K
NOI $12,073 @ 7.0% cap · market cap 3.02%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$267.2K
$233.8K – $311.8K
NOI $18,705 @ 7.0% cap · market cap 4.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
770
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
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office units - First-floor suburban office condo includes a private west-side courtyard, lobby signage, and shared bathroom access.
Where is this office units located?
The property is located at 6400 Monroe Street Sylvania, OH.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: First‑floor suburban office condo; Private west‑side courtyard included with the unit; Lobby signage provided
