Office Building with Perimeter
For Sale
Contact for pricing
7540 New West Rd, Toledo, OH 43617
Office building offering 17 perimeter offices plus two bullpen areas for flexible workspace configurations.
Property Size8,585 SF
Price / SF$174.72
Days on Market107
Property Features for 7540 New West Rd
General Information
Standard status
Active
Size
8,585 SF
Property subtype
OFFICE
Additional Details
Office Units
17
Listing Agency:
Reichle | Klein Group
(419) 861-1100
Listed By:
Ryan Miller · License #2011003129
(419) 794-3961
Source:
Moodyscre
Added: May 29
Changed: Sep 9
Last Checked: Sep 12 at 10:17AM
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 Reichle | Klein Group
Investment Insights
Based on property information with market context.
This office building features 17 perimeter offices along with two bullpen areas, providing a mix of private offices and shared workspace. The layout is well-suited for organizations that want a combination of individual work areas and collaborative space.
The property is listed for sale at 7540 New West Rd in Toledo, Ohio.
With a total size of 8,585 square feet, the building is positioned as a straightforward office option for buyers evaluating an existing interior configuration.
The property is listed for sale at 7540 New West Rd in Toledo, Ohio.
With a total size of 8,585 square feet, the building is positioned as a straightforward office option for buyers evaluating an existing interior configuration.
Key Highlights
- Office building with 17 perimeter offices
- Two bullpen areas for flexible workspace configurations
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
$78,134
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
5.21%
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%
$1,562,680
$1.6M
Cap Rate 7%
$1,116,200
$1.1M
Cap Rate 9%
$868,156
$868.2K
Market Conditions
NOI Build-Up for 8,585 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
$128.8K $15.00/SF
− Vacancy
−$24.6K −$2.87/SF
EGI
$104.2K $12.14/SF
− OpEx
−$26.0K −$3.03/SF
NOI
$78.1K $9.10/SF
Area
Toledo, OH
Vacancy
19.10%
Lease Rate
$15.00 /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%
$1,562,680
Cap Rate 7%
$1,116,200
Cap Rate 9%
$868,156
Alternative Uses
Best Use
Office B
$1.12M
$976.7K – $1.30M
NOI $78,134 @ 7.0% cap · market cap 5.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $100,012 @ 7.0% cap · market cap 6.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
17
Office units
Location Intelligence
Trade Area within ½ mile
662
Businesses Nearby
Explore this area
Business Placement
Demographics for 43617, OH
7,659
Population
3,248
Households
2.4
Avg Household Size
44
Median Age
51%
College-Educated
97%
High-School Grad
5.2 sq mi
ZIP Area
1,473
Density / Sq Mi
$131,935
Median Household Income
$61,927
Median Earnings
$1,145
Median Rent
$271,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Office building offering 17 perimeter offices plus two bullpen areas for flexible workspace configurations.
Where is this office building located?
The property is located at 7540 New West Rd Toledo, OH.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Office building with 17 perimeter offices; Two bullpen areas for flexible workspace configurations
