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    6363 Monroe St Sylvania, OH 43560

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    6363 Monroe St Sylvania, OH 43560

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    • Lifestyle centers
    • 23,098 SF
    • 1.75 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Spoke Life Cycles (Sylvania) / (Bike/Boat/Book/etc) Store
    • Little Caesars Pizza / Restaurant
    • Dumpster Rentals of Sylvania / Corporate Office

    Property Details for 6363 Monroe St

    Year built
    1991
    Lot size
    1.75 lot acres
    Property size
    23,098 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    This exceptional 23,098-square-foot shopping center in Sylvania, Ohio, presents a compelling investment opportunity. Boasting 100% occupancy across nine diverse tenants, including national and local brands like Little Caesars, Jimmy John's, and American Family Insurance, this stabilized property generates a substantial net operating income (NOI) of $183,205. Built in 1991 and renovated in 2019, the two-story center sits on a 1.747-acre lot with ample parking (45 spaces) and excellent visibility on Monroe Street, a major commercial thoroughfare. Located just two blocks from Historic Downtown Sylvania and SOMO Flats, and less than half a mile from a Kroger Marketplace and the US 23/I-475 intersection, the property benefits from high traffic counts (Monroe St. VPD: 20,722

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Sylvania
    County
    Lucas
    State
    Ohio
    Longitude
    -83.6976
    Latitude
    41.7154

    Comparable in this City

    • Value Estimation by Request
      37,214 SF

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      Neighborhood centers • 37,214 SF
      5801-5829 Monroe St, Sylvania, OH 43560
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    • Value Estimation
      $1,265,000
      13,300 SF

      5714 Monroe St

      MINI-MALL • 13,300 SF
      5714 Monroe St, Sylvania, OH 43560
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    • Value Estimation by Request
      7,160 SF

      6626 Monroe St

      SHOPPING CENTER, STRIP CENTER • 7,160 SF
      6626 Monroe St, Sylvania, OH 43560-4905
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    • Value Estimation
      $2,000,000
      102,209 SF

      5800 Monroe St

      SHOPPING CENTER, STRIP CENTER • 102,209 SF
      5800 Monroe St, Sylvania, OH 43560-2263
      View Details
    • Value Estimation
      $3,210,000
      32,216 SF

      5555 Monroe St

      SHOPPING CENTER, STRIP CENTER • 32,216 SF
      5555 Monroe St, Sylvania, OH 43560-2539
      View Details
    • Value Estimation by Request
      0.57 Acres

      6626 Sylvania Ave

      SHOPPING CENTER, STRIP CENTER • 0.57 Acres
      6626 Sylvania Ave, Sylvania, OH 43560-3920
      View Details

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    Similar Nearby for Lease

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      7,700 SF

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      Proposed 7,700 SF shopping center with high traffic.
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      Retail Space in Sylvania Center

      Neighborhood center with a history of high occupancy, space available.
      4900 N Mccord Rd, Sylvania, OH 43560
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      Neighborhood Center Retail Space Available

      Retail space for lease in a high-occupancy neighborhood center.
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      Restaurant Space in Sylvania, Ohio

      Restaurant space available immediately at major intersection with ample parking.
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      Sylvania Country Squire Shopping Center

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    • $18 SF/Yr

      Prime Retail/Office Space Available

      Prominent Sylvania plaza space with high visibility and traffic.
      6363 Monroe St, Sylvania, OH 43560
      View Details
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    6363 Monroe St
    Sylvania, OH 43560
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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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