Converted General Office
For Sale
$500,000
6715 Maplewood Ave, Sylvania, OH 43560
Former residence converted to a general office building producing $36,000 in annual rental income.
Property Size2,309 SF
Price / SF$216.54
Days on Market163
Property Features for 6715 Maplewood Ave
General Information
Standard status
Active
Size
2,309 SF
Property subtype
Office
Zoning
P-R-O
Building Details
Building Size
2,309 SF
Year Built
1910
Stories
2
Listing Agency:
Signature Associates - Toledo
Listed By:
Zachary Liber
(419) 367-4331
Source:
Cpix.resimplifi
Added: Mar 26
Changed: Aug 8
Last Checked: Sep 4 at 2:17AM
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 Signature Associates - Toledo
Investment Insights
Based on property information with market context.
This property is a former 4-bedroom residence converted into a general office building. It generates $36,000 in annual rental income.
The building is located as one of 8 blocks on the south side of Maplewood. The Sylvania City Parking Lot is next door, with the Sylvania City Police Station, City Hall, and the Court House adjacent to the property.
The current improvements support general office use following the residential conversion.
The building is located as one of 8 blocks on the south side of Maplewood. The Sylvania City Parking Lot is next door, with the Sylvania City Police Station, City Hall, and the Court House adjacent to the property.
The current improvements support general office use following the residential conversion.
Key Highlights
- $36,000 annual rental income
- 1910 building converted from a former 4‑bedroom residence into a general office building
- 1 of 8 blocks on the south side of Maplewood not owned by the City of Sylvania
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
$19,094
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
3.82%
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%
$381,880
$381.9K
Cap Rate 7%
$272,771
$272.8K
Cap Rate 9%
$212,156
$212.2K
Market Conditions
NOI Build-Up for 2,309 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
$30.5K $13.20/SF
− Vacancy
−$5.0K −$2.17/SF
EGI
$25.5K $11.03/SF
− OpEx
−$6.4K −$2.76/SF
NOI
$19.1K $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%
$381,880
Cap Rate 7%
$272,771
Cap Rate 9%
$212,156
Alternative Uses
Best Use
Office B
$272.8K
$238.7K – $318.2K
NOI $19,094 @ 7.0% cap · market cap 3.82%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$422.6K
$369.8K – $493.0K
NOI $29,582 @ 7.0% cap · market cap 5.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
550
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 Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Former residence converted to a general office building producing $36,000 in annual rental income.
Where is this office building located?
The property is located at 6715 Maplewood Ave Sylvania, OH.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: $36,000 annual rental income; 1910 building converted from a former 4‑bedroom residence into a general office building; 1 of 8 blocks on the south side of Maplewood not owned by the City of Sylvania
