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    3131 Executive Pkwy Toledo, OH 43606

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    For Lease
    Contact for pricing

    Prime Westgate Office Suites Available

    Lot size:
    34,344 SF

    Property Features for 3131 Executive Pkwy

    General Information

    Property type
    Office properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    34,344 SF
    Total Rate
    42786.9

    Building Details

    Year Renovated
    2010

    Spaces For Lease

    at 3131 Executive Pkwy, Toledo, OH 43606 Contact us
    Unit Suite 200

    $14 /Mo

    Size
    3,403 SF
    Contact us
    Unit Suite 207

    $14 /Mo

    Size
    1,946 SF
    Contact us
    Unit Suite 200-207

    $14 /Mo

    Size
    5,349 SF
    Contact us
    Unit Suite 106 (1st Floor)

    $16 /Mo

    Size
    590 SF
    Contact us
    Unit Suite 101 (1st Floor)

    $16 /Mo

    Size
    2,250 SF
    Contact us
    Show more

    We can help!

    Listing Contact
    Chad Ulmer
    Chad Ulmer

    Listing Agency: Reichle | Klein Group Listing Agent: Chad Ulmer

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional office building, located at 3131 Executive Parkway in Toledo, Ohio, offers a variety of professionally maintained suites for lease. The property boasts a total of 34,344 square feet situated on 1.75 acres of land in the desirable Westgate area. Multiple configurations are available, ranging from 590 square feet to a maximum of 5,349 square feet, providing flexibility for businesses of various sizes. The building underwent renovations in 2010, ensuring modern amenities and a well-maintained environment. Its convenient location offers excellent exposure and prominent signage along Executive Parkway, enhancing visibility and brand recognition. The property benefits from its proximity to major transportation arteries, being less than a mile from an expressway interchange, ensuring easy access for employees and clients. This is a fantastic opportunity for businesses seeking a high-profile location in a thriving commercial area. The building is classified as a traditional office space and features multiple tenancies. The property's address is 3131 Executive Pkwy, Toledo, OH 43606, within Lucas County. This prime location offers businesses the ideal blend of accessibility, visibility, and modern office space. The building's updated features and strategic location make it an attractive option for companies seeking to establish or expand their presence in Toledo.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mahaffey & Associates LLC Law Firm Soul Searching Counseling Foster Care Service Divine Ivriy Alternative Medicine Practice AIDE FOR YOU, LLC Corporate Office Toledo Homecare Home Health Care Service

    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
    Toledo
    County
    Lucas
    State
    Ohio
    Longitude
    -83.6296053
    Latitude
    41.6782576

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    FAQs

    What type of property is this?
    Office property - Prime Westgate Office Suites Available
    Where is this office property located?
    The property is located at 3131 Executive Pkwy Toledo, OH.
    What is the lease rate?
    The lease rate is $14-$16 SF/Yr.
    What are key features of this property?
    This property features: 34,344 SF office building on 1.75 acres in Toledo, OH's desirable Westgate area.; Multiple suites available, ranging from 590 SF to 5,349 SF.; 2010 renovations provide modern amenities.
    (419) 861-1100 Call to check price and availability
    Request Owner's contact information
    3131 Executive Pkwy Toledo, OH 43606
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    Toledo, OH 43606
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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.

    More about this property
    3131 Executive Pkwy Toledo, OH 43606
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Chad Ulmer
    Chad Ulmer
    Real Estate License ID: SAL.2024003889
    (419) 861-1100 (419) 794-3975
    Learn more
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