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    Multi-Purpose Medical Office Building Title is generated by Realmo AI

    959 Illinois Avenue, Maumee, OH 43537

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    For Lease
    $12 SF/Yr $7,482/Mo (calc)

    ADA-compliant, elevator-served medical and office building with flexible space and buildout potential for the right operator.

    Type:Office
    Property size:
    7,482 SF
    Lot size:
    5.00 Acres
    Added:
    Jun 2, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 3 at 2:04 am

    Property Features for 959 Illinois Avenue

    General Information

    Standard status
    Active
    Size
    7,482 SF
    Lot size
    5.00 Acres
    Property subtype
    Office

    Building Details

    Year Built
    2004

    Spaces For Lease

    at 959 Illinois Avenue Contact us

    We can help!

    Listing Contact
    Becky Beck

    Listing agent Becky Beck License #OH #SAL.2023004979

    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

    • Multi‑purpose medical/office building built in 2004
    • 5‑acre property with professional building maintenance reported
    • ADA‑compliant, elevator‑served building
    • First floor offers 2,813 SF professional office space that could be demised
    • Second floor includes 3,174 SF professional office space plus 1,495 SF raw space for buildout

    Overview

    This multi-purpose medical and office building is professionally maintained and identified as Class A, though it does need work. The property is ADA compliant and served by an elevator, supporting accessibility across the building. The first floor offers 2,813 SF of professional office space that could be easily demised, making it workable for smaller tenants or multiple suites. The second floor includes 3,174 SF of professional office space along with an additional 1,495 SF of raw space available for buildout, giving an operator a straightforward path to tailor improvements to their workflow.

    Located at 959 Illinois Avenue in Maumee, Ohio, the building sits on approximately 5 acres. While this listing does not describe specific frontage or neighboring retailers, the campus-style acreage can be helpful for organizations that value room to operate and potential expansion or staging around the facility.

    This asset is best suited for medical-related users or service-focused office tenants seeking an ADA-friendly environment with built-in flexibility. With both demisable office space and raw second-floor square footage for customization, it can support straightforward leasing and targeted buildouts for a range of practices or professional operations, particularly for tenants who can capitalize on the available value-add opportunity.
    Location Intelligence

    Current Use by Public Records

    Namay Dentistry Dental Office Mc Pherson Terri Employment Agency Crosstex A Cantel Medical ... Production Facility Eric Warnock Dental Office Mahjabeen Islam Pediatrician

    Suggested Use

    Restaurant Law Firm Spa & Massage Center Building Supply Hair Salon Big Box & Wholesale Store Real Estate Agency Auto Repair Shop Dental Office Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Maumee
    County
    Lucas
    State
    Ohio
    Longitude
    -83.6799961
    Latitude
    41.5702733

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    FAQs

    What type of property is this?
    Medical Office Space - ADA-compliant, elevator-served medical and office building with flexible space and buildout potential for the right operator.
    Where is this medical office space located?
    The property is located at 959 Illinois Avenue Maumee, OH.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: Multi‑purpose medical/office building built in 2004; 5‑acre property with professional building maintenance reported; ADA‑compliant, elevator‑served building
    (419) 704-4724
    We can help!
    Listing Contact
    Becky Beck
    Real Estate License ID: OH #SAL.2023004979
    Learn More
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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
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