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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    318 Illinois Ave Maumee, OH 43537-2163

    • Retail space
    • 4,238 SF
    • 0.30 lot acres
    OFF-MARKET
    Value Estimations
    $325,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-6268174
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Retail space

    Property Details for 318 Illinois Ave

    Year built
    1958
    Lot size
    0.30 lot acres
    Property size
    4,238 SF
    Zone code
    16-C2
    Property type
    Retail space
    APN
    36-01582
    APU
    3601582

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $285,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $505,000
      6.5%
      $465,000
      7%
      $430,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $256,000
      Market price range: $174k - $620k

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

    Location Insight

    • Map
    • Local Demand
    City
    Maumee
    County
    Lucas
    State
    Ohio
    Longitude
    -83.6611
    Latitude
    41.5673
    CBSA code
    45780
    CBSA name
    TOLEDO, OH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $5,539
    $11,375
    $38,430
    $49,805
    -
    $32,500
    $109,800
    $142,300

    Comparable in this City

    • Value Estimation
      $275,000
      2,000 SF

      701 Conant St

      RETAIL STORES (PERSONAL SERVICES) • 2,000 SF
      701 Conant St, Maumee, OH 43537-2900
      View Details
    • Value Estimation
      $365,000
      10,260 SF

      721 Frd St

      RETAIL STORES (PERSONAL SERVICES) • 10,260 SF
      721 Frd St, Maumee, OH 43537-1813
      View Details
    • Value Estimation
      $335,000
      5,540 SF

      1561 Henthorne Dr

      RETAIL STORES (PERSONAL SERVICES) • 5,540 SF
      1561 Henthorne Dr, Maumee, OH 43537-1372
      View Details
    • Value Estimation
      $1,300,000
      2,338 SF

      933 Michigan Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,338 SF
      933 Michigan Ave, Maumee, OH 43537-3572
      View Details
    • Value Estimation
      $345,000
      6,840 SF

      3637 Briarfield Blvd

      RETAIL STORES (PERSONAL SERVICES) • 6,840 SF
      3637 Briarfield Blvd, Maumee, OH 43537-9384
      View Details
    • Value Estimation
      $1,835,000
      6,148 SF

      125 Chesterfield Ln

      RETAIL STORES (PERSONAL SERVICES) • 6,148 SF
      125 Chesterfield Ln, Maumee, OH 43537-2209
      View Details

    Similar Nearby for Sale

    • $350,000
      4,874 SF

      Maumee Retail Building - $350K

      Prime Maumee storefront, ample parking. Owner/user opportunity.
      705-713 Conant St, Maumee, OH 43537
      View Details
    • $2,200,000
      31,010 SF

      Maumee Retail Center - $2.2M

      High-traffic retail space, excellent location.
      1412 Reynolds Rd, Maumee, OH 43537
      View Details
    • $4,338,810
      7,083 SF

      Carrabba's Maumee Restaurant

      High-yield NNN lease investment. Strong tenant.
      3405 Briarfield Blvd, Maumee, OH 43537
      View Details
    • $249,000
      2.35 Acres

      Maumee Commercial Land - 2.35 Acres

      Prime Maumee development opportunity. Excellent location, near major roadways.
      4802 Jerome Rd, Maumee, OH 43537
      View Details
    • $1,450,000
      16,952 SF

      Maumee Executive Office Building

      16,952 SF Office, $1.45M, Ample Parking
      1691 Woodlands Dr, Maumee, OH 43537
      View Details
    • $895,000
      1 SF

      Prime Commercial Site in Maumee

      Commercial land with high visibility and accessibility in Maumee, Ohio.
      1502 South Reynolds Rd, Maumee, OH 43537
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      1,105 SF

      Retail Space in Busy Center

      Retail suite in a busy strip center with frontage.
      300-342 W Dussel Dr, Maumee, OH 43537
      View Details
    • Contact for pricing
      1,580 SF

      Retail Space Near US Route

      Retail space for lease, approximately 11 miles from Toledo.
      3100 Russell Rd, Maumee, OH 43537
      View Details
    • Contact for pricing

      Renovated Flex Space in Maumee

      Completely renovated flex space in Arrowhead Park, Maumee, Ohio.
      1722 Indian Wood Cir, Maumee, OH 43537
      View Details
    • Contact for pricing

      Retail Space in Uptown Maumee

      Exceptional retail opportunity in Maumee's vibrant DORA district.
      125 W Wayne St, Maumee, OH 43537
      View Details
    • $14 SF/Yr
      1,560 SF

      Retail Space at Arrowhead Park

      Retail space available at a busy intersection in Arrowhead Park.
      425-491 W Dussel Dr, Maumee, OH 43537
      View Details
    • Contact for pricing
      1,000 SF

      Retail Space in Uptown Maumee

      Retail opportunities in Maumee's vibrant DORA district.
      129 W Wayne St, Maumee, OH 43537
      View Details
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    318 Illinois Ave
    Maumee, OH 43537-2163
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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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