Maumee Office Building For
For Sale
Contact for pricing
1691 Woodlands Dr, Maumee, OH 43537
Office building with 16,952 square feet available for sale.
Property Size16,952 SF
Price / SF$109.13
Days on Market730
Property Features for 1691 Woodlands Dr
General Information
Standard status
Active
Size
16,952 SF
Class
A
Total Parking Spaces
120
Property subtype
Office
Zoning
commercial - industrial dst
Building Details
Year Built
1994
Stories
1
Listing Agency:
Reichle | Klein Group
Listed By:
Marty Gallagher, SIOR · License #OH 0000334781
Source:
Crexi
Added: Sep 13, 2024
Changed: Aug 31
Last Checked: Sep 12 at 6:52AM
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 commercial real estate offering features an office building with a total size of 16,952 square feet. The property is located in Maumee, Ohio.
Key Highlights
- Year Built: 1994
- View Complete Property Profile Here: http:\/\/properties.rkgcommercial.com\/1691‑woodlands‑drive‑sale
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
$140,184
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
7.58%
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%
$2,803,680
$2.8M
Cap Rate 7%
$2,002,629
$2.0M
Cap Rate 9%
$1,557,600
$1.6M
Market Conditions
NOI Build-Up for 16,952 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
$223.8K $13.20/SF
− Vacancy
−$36.9K −$2.17/SF
EGI
$186.9K $11.03/SF
− OpEx
−$46.7K −$2.76/SF
NOI
$140.2K $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%
$2,803,680
Cap Rate 7%
$2,002,629
Cap Rate 9%
$1,557,600
Alternative Uses
Best Use
Office B
$2.00M
$1.75M – $2.34M
NOI $140,184 @ 7.0% cap · market cap 7.58%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.10M
$2.71M – $3.62M
NOI $217,181 @ 7.0% cap · market cap 11.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,151
Businesses Nearby
Explore this area
Business Placement
Demographics for 43537, OH
29,075
Population
13,071
Households
2.2
Avg Household Size
44
Median Age
42%
College-Educated
97%
High-School Grad
18.6 sq mi
ZIP Area
1,563
Density / Sq Mi
$85,919
Median Household Income
$49,020
Median Earnings
$1,017
Median Rent
$235,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 with 16,952 square feet available for sale.
Where is this office building located?
The property is located at 1691 Woodlands Dr Maumee, OH.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Year Built: 1994; View Complete Property Profile Here: http:\/\/properties.rkgcommercial.com\/1691‑woodlands‑drive‑sale
