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Property profile & analytics
FOR LEASE
Office buildings
3500 Granite Cir 2 Toledo, OH 43617
Trust Owned
~
Est. High Equity
Property ID
US66-2282959
For Lease
1 / 14
$1,175,000
3500 Granite Cir,Unit 2, Toledo, OH 43617
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1997
Total area
11,840 SF
Lot
1.5 ac (65,384 SF)
Zoning code
20-M2
APN
79-09862
UPID
US66-2282959
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Cooper-Smith Advertising Advertising Agency Marketing & Advertising
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$860k
Blend (final)
Blend
$1.18M
Owner & transaction history
Unrecorded Trust
Unrecorded Trust
since 2026
Last sale
$1.6M
3 recorded transactions
Zoning & alternative use
20-M2 · Toledo, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.9M
+149.0%
Medical building
$875,000
+16.9%
Auto repair, garage
$855,000
+13.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Toledo submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Toledo submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$750,000
Current use
RESTAURANT
$1,870,000
Change: +149% · Conversion: Moderate
MEDICAL BUILDING
$875,000
Change: +17% · Conversion: Easy
AUTO REPAIR, GARAGE
$855,000
Change: +14% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$835,000
Change: +11% · Conversion: Difficult
RETAIL STORES
$770,000
Change: +2% · Conversion: Moderate
COMMERCIAL (GENERAL)
$720,000
Change: -4% · Conversion: Easy
Blend value · Realmo final
$1.18M
Range $1.06M – $1.29M · ±10% · vs last sale $1.60M (Feb 20 2026)
Last sale anchor
$1.60M
Feb 20 2026
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$99 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$37,895
Tax year 2023
Assessed value
$367,465
Assessed 2023
Previous assessed
$367,465
+0.0% YoY
Effective rate
10.31%
On assessed value
Assessed land
$28,525
Assessed improvement
$338,940
Land market value
$81,500
Improvement market value
$968,400
Total market value
$1,049,900
Applied tax rate
79.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1997
Heating
NONE
Stories
1
Total area
11,840 SF
Lot
1.5 ac (65,384 SF)
Zoning code
20-M2
APN
79-09862
UPID
US66-2282959
Jurisdiction
LUCAS
Zoning & alternative use
20-M2 · Toledo, OH
Zoning 20-M2 · permitted uses
20-M2 · Toledo, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Toledo. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$750,000
RESTAURANT
Est. value
$1.9M
MEDICAL BUILDING
Est. value
$875,000
AUTO REPAIR, GARAGE
Est. value
$855,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$835,000
RETAIL STORES
Est. value
$770,000
COMMERCIAL (GENERAL)
Est. value
$720,000
OFFICE BUILDING Current
RESTAURANT
MEDICAL BUILDING
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1997
Heating
NONE
Stories
1
Lot
1.5 ac
Current owner
From public records · entity-resolved
Unrecorded Trust
Trust
Mailing address
5207 CAMBRIAN RD, TOLEDO, OH 43623-2625
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 20, 2026
$1,600,000
Unrecorded Trust
Cooper Family 77 LLC
Deed
$1,360,000 · Waterford Bank NA
Feb 11, 2016
$1,032,500
Cooper Family 77 LLC
Vista Medical V Ltd
Warranty Deed
—
—
—
Vista Medical V Ltd
—
Deed Of Trust
related
$975,000 · Fifth Third Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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