5810 Monroe St Sylvania, OH 43560
- Banks
- 2,700 SF
- 1.53 lot acres
Current Use by Public Records
- Sands & Associates Inc / Mortgage Lender
- Curves / Fitness Center / Personal Trainer
Property Details for 5810 Monroe St
- Year built
- 1984
- Lot size
- 1.53 lot acres
- Property size
- 2,700 SF
- Zone code
- 31-B4
- Property type
- Banks
- APN
- 82-04441
- APU
- 8204441
Description
This exceptional 0.83-acre commercial land parcel presents a remarkable development opportunity in the thriving Sylvania, Ohio market. Located in the B-4 Shopping Center District, this flat, readily developable site boasts excellent visibility and accessibility. Situated on Monroe Street, a four-lane road with a turning lane, the property enjoys high traffic counts (Monroe St: 18,276 VPD, Alexis Rd: 19,536 VPD in 2023). Its strategic location places it adjacent to the Farmers and Merchants State Bank and the Sylvania Marketplace shopping center, ensuring high foot traffic and brand recognition. The property is conveniently situated three-quarters of a mile east of downtown Sylvania and less than half a mile west of the US-23/I-475 interchange, providing easy access to major transportation arteries. A signalized entry is available along Alexis Road and Monroe Street, with potential for additional curb cuts and signage on Monroe Street. All utilities are conveniently located on-site. The property's location between Acres and Corey streets further enhances its appeal. Please note that bank or financial institution uses are restricted. APN: 8204441. Asking price: $198,000 ($238,554/acre).
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,590,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,430,000
- 6.5%
- $1,515,000
- 7%
- $1,340,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,350,000
- Geo Method
- $1,390,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,375,000
- Retail
- $1,250,000
- Mixed-Use
- $1,350,000
- Hospitality
- $1,225,000
- Educational
- $1,405,000
- Residential Income
- $1,395,000
- Energy
- $1,640,000
- Income-Based Land
- $1,675,000
- Food Service
- $1,680,000
Location Insight
- Map
- Local Demand
- City
- Sylvania
- County
- Lucas
- State
- Ohio
- Longitude
- -83.6806
- Latitude
- 41.7123
- CBSA code
- 45780
- CBSA name
- TOLEDO, OH METROPOLITAN STATISTICAL AREA
