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    Medical Office Suites with Private Amenities Title is generated by Realmo AI

    7640 West Sylvania Avenue Progressive Wellness Medical, Sylvania, OH 43560

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    Multiple medical suites with private patient rooms, reception/waiting areas, storage, and ample surface parking near I-475/US 23.

    Type:Office
    Property size:
    7,482 SF
    Added:
    Jun 2, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 3 at 2:00 am

    Property Features for 7640 West Sylvania Avenue Progressive Wellness Medical

    General Information

    Standard status
    Active
    Size
    7,482 SF
    Property subtype
    Office

    Building Details

    Year Built
    2004

    Spaces For Lease

    at 7640 West Sylvania Avenue Progressive Wellness Medical Contact us

    We can help!

    Listing Contact
    Jason Westendorf, SIOR

    Listing agent Jason Westendorf, SIOR License #OH #SAL.2006007466

    Listing office NAI Harmon Group

    Listing date Jun 2, 2026

    Source Naiharmon

    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 NAI Harmon Group

    HighLights

    • Medical office building built in 2004 with multiple suites and private patient spaces
    • 7 available suites: A1 (7,382 SF), A3 (4,041 SF), C1 (1,360 SF), G1 (444 SF), J (4,484 SF), L (1,899 SF), N (1,433 SF)
    • Each suite includes private patient rooms, spacious reception/waiting areas, storage rooms, and an office directory
    • TI allowance available for tenant improvements
    • Ample surface lot parking plus exterior monument signage
    • Convenient access from I‑475/US 23

    Overview

    Progressive Wellness is a dedicated medical office building offering multiple suites, each with its own amenities. Suite layouts are designed around private space for patients, with storage rooms plus spacious reception and waiting areas. The property presents 7 available suites, including Suite A1 (7,382 SF), Suite A3 (4,041 SF), Suite C1 (1,360 SF), Suite G1 (444 SF), Suite J (4,484 SF), Suite L (1,899 SF), and Suite N (1,433 SF), creating options for a range of healthcare practices. Tenant improvement allowance is available, helping support customization for qualified medical users.

    The building includes ample parking in a surface lot and features exterior monument signage. Interior amenities include an office directory. The location is easily accessible from I-475/US 23, supporting convenient patient and staff access for a medical tenant looking for visibility and straightforward arrival.

    With private patient areas, dedicated reception and waiting space, and on-site storage, these suites are well suited for practices that need functional patient flow and room for day-to-day operations. As a property owned by one of the largest medical facility owners in the nation, the building is positioned for healthcare operators seeking an established platform for leasing multiple suite options within a focused medical setting.
    Location Intelligence

    Current Use by Public Records

    Mercy Health - Sylvania ... Medical Clinic Fahncke Charles R ... Dental Office Russell Kate Physician Steve Cygan Physician Allergy Clinic Ohio ... Physician

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Sylvania
    County
    Lucas
    State
    Ohio
    Longitude
    -83.7279576
    Latitude
    41.6896787

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    FAQs

    What type of property is this?
    Medical center - Multiple medical suites with private patient rooms, reception/waiting areas, storage, and ample surface parking near I-475/US 23.
    Where is this medical center located?
    The property is located at 7640 West Sylvania Avenue Progressive Wellness Medical Sylvania, OH.
    What are key features of this property?
    This property features: Medical office building built in 2004 with multiple suites and private patient spaces; 7 available suites: A1 (7,382 SF), A3 (4,041 SF), C1 (1,360 SF), G1 (444 SF), J (4,484 SF), L (1,899 SF), N (1,433 SF); Each suite includes private patient rooms, spacious reception/waiting areas, storage rooms, and an office directory
    (419) 265-4677
    We can help!
    Listing Contact
    Jason Westendorf, SIOR
    Real Estate License ID: OH #SAL.2006007466
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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