Office Units with Flexible
For Sale
$1,700,000
7010 Spring Meadows West Dr, Holland, OH 43528
Two available suites can be combined within a professionally managed office building.
Property Size15,935 SF
Price / SF$106.68
Days on Market166
Property Features for 7010 Spring Meadows West Dr
General Information
Standard status
Active
Size
15,935 SF
Class
Class A
Total Parking Spaces
82
Property subtype
Investment
Zoning
19-C2
Additional Details
Highway Access
Yes
Office Units
2
Building Details
Building Size
15,935 SF
Year Built
1995
Buildings
1
Stories
1
Tenancy
Multiple Tenants
Listing Agency:
Signature Associates - Toledo
(419) 290-8334
Listed By:
Keenan Fields · License #BRKP.2022005426
(419) 290-8334
Source:
Cpix.resimplifi
Added: Mar 18
Changed: Aug 30
Last Checked: Aug 30 at 1:17PM
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 Signature Associates - Toledo
Investment Insights
Based on property information with market context.
Office units are available within a professionally managed building totaling 15,935 square feet. The offering includes two smaller suites that may be combined, providing a configurable option for an office user. The property was constructed in 1995 and carries 19-C2 zoning.
Located at 7010 Spring Meadows West Dr in Holland, Ohio, the building offers exposure along an airport highway corridor. I-475 and US 23 are only minutes away, supporting regional access for employees, clients, and visitors.
Located at 7010 Spring Meadows West Dr in Holland, Ohio, the building offers exposure along an airport highway corridor. I-475 and US 23 are only minutes away, supporting regional access for employees, clients, and visitors.
Key Highlights
- Two smaller office units available with the option to combine
- 15,935‑square‑foot office building constructed in 1995
- 19‑C2 zoning
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
$131,774
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
7.75%
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%
$2,635,480
$2.6M
Cap Rate 7%
$1,882,486
$1.9M
Cap Rate 9%
$1,464,156
$1.5M
Market Conditions
NOI Build-Up for 15,935 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
$210.3K $13.20/SF
− Vacancy
−$34.6K −$2.17/SF
EGI
$175.7K $11.03/SF
− OpEx
−$43.9K −$2.76/SF
NOI
$131.8K $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%
$2,635,480
Cap Rate 7%
$1,882,486
Cap Rate 9%
$1,464,156
Alternative Uses
Best Use
Office B
$1.88M
$1.65M – $2.20M
NOI $131,774 @ 7.0% cap · market cap 7.75%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.92M
$2.55M – $3.40M
NOI $204,151 @ 7.0% cap · market cap 12.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
43
Businesses Nearby
Explore this area
Business Placement
Demographics for 43528, OH
16,746
Population
6,946
Households
2.4
Avg Household Size
45
Median Age
35%
College-Educated
92%
High-School Grad
18.7 sq mi
ZIP Area
896
Density / Sq Mi
$92,188
Median Household Income
$44,014
Median Earnings
$1,030
Median Rent
$246,500
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 units - Two available suites can be combined within a professionally managed office building.
Where is this office units located?
The property is located at 7010 Spring Meadows West Dr Holland, OH.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Two smaller office units available with the option to combine; 15,935‑square‑foot office building constructed in 1995; 19‑C2 zoning
