1661 Holland Rd, Maumee, OH 43537
- Medical Office Space
- 16,307 SF
- 2.31 lot acres
Current Use by Public Records
- Medical Service Company / Production Facility
- Dean M. Bernardo MD / Physician
- Daniel J. Pipoly MD / Physician
- Karl S. Fernandes MD / Physician
- Jamey J. Ruiz MD / Physician
Property Details for 1661 Holland Rd
- Year built
- 1987
- Lot size
- 2.31 lot acres
- Zone code
- 16-CM
- Property type
- Medical Office Space
- Property subtype
- Medical centers
- APN
- 36-40825
- APU
- 3640825
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Sep 3, 2021 | — | Holland Road Holdings I LLC | — | Deed · related | $1.3M · Wayne Savings Community Bank |
| Aug 10, 2021 | — | Holland Road Holdings LLC | Toledo Med Realty LLC | Warranty Deed | $730k · Wayne Savings Community Bank |
| Aug 14, 2019 | $1,750,000 | Toledo Med Realty LLC | Kmp Management Group LLC | Warranty Deed | $1.4M · Glass City FCU |
| Sep 8, 2005 | $1,080,000 | Kmp Management Group LLC | Toledo Hospital | Warranty Deed | $1.1M · Fifth Third Bank |
| — | — | Kmp Management Group LLC | — | Loan Modification · related | $469k · Huntington Nat'l Bk |
| — | — | Kmp Management Group LLC | — | Deed Of Trust · related | $728k · Huntington National Bank |
| — | — | Kmp Management Group LLC | — | Loan Modification · related | $232k · Huntington Nat'l Bk |
| — | — | Kmp Management Group LLC | — | Deed Of Trust · related | $150k · Huntington National Bank |
Description
This single-story, 16,307-square-foot Class B medical office building in Maumee, Ohio, presents a compelling investment opportunity. Located at 1661 Holland Rd, 43537, this property boasts a 2.33-acre lot and features a multi-tenant occupancy with five current tenants, currently at 51% occupancy. Built in 1987, the building is zoned 16-CM and offers ample parking with 97 surface spaces. Its strategic location provides excellent visibility and accessibility, situated just one mile from the Ohio Turnpike (I-80/I-90) and 1.5 miles from US-23/I-475, a corridor with over 100,000 vehicles per day. The property is also within minutes of major national retailers including Meijer, Kroger, Cracker Barrel, and Outback Steakhouse. This net lease investment offers potential for increased net operating income (NOI) through leasing up the currently available space. The property is a single building on a large lot, providing significant potential for future development or expansion. This is an excellent opportunity to acquire a well-located medical office building with significant upside potential.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $2,240,000
- 6.5%
- $2,065,000
- 7%
- $1,920,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,716,000
- AI Estimate
- $1,411,000
Market price range: $661k - $2.74MMarket price range: $531k - $1.94M -
Alternative Use
- Use
- Estimation
- MEDICAL BUILDING
- $1,650,000 Current use
- RETAIL STORES
- $2,840,000 Change: +72% Conversion: Difficult
- RESTAURANT
- $2,345,000 Change: +42% Conversion: Difficult
- NEIGHBORHOOD: SHOPPING CENTER
- $1,320,000 Change: -20% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Maumee
- County
- Lucas
- State
- Ohio
- Longitude
- -83.6779
- Latitude
- 41.5889
- CBSA code
- 45780
- CBSA name
- TOLEDO, OH METROPOLITAN STATISTICAL AREA
