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Property profile & analytics
OFF-MARKET
Estimated value
$1,245,000
Apartment buildings
3859 Sylvan Lks Blvd, Sylvania, OH 43560-9570
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US66-1039219
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2022
Total area
14,871 SF
Lot
15.84 ac (689,860 SF)
Zoning code
31-M2
APN
82-00227
UPID
US66-1039219
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.31M
CAP Approach
CAP
$1.61M
Comparable Approach
Comparable
$912k
Blend (final)
Blend
$1.25M
Owner & transaction history
Sylvania Place Apartments LLC
Sylvania Place Apartments LLC
since 2025
Last sale
$1.3M
2 recorded transactions
Zoning & alternative use
31-M2 · Sylvania, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.5M
+152.0%
Neighborhood: shopping center
$1.2M
+101.8%
Auto repair, garage
$1.1M
+82.3%
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 Sylvania submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Sylvania 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
$985,000
ML approach
$1,305,000
CAP Approach
CAP Return
Estimation
6%
$1,745,000
6.5%
$1,610,000
7%
$1,495,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,505,000
Change: +152% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$1,205,000
Change: +102% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,090,000
Change: +82% · Conversion: Difficult
RETAIL STORES
$1,050,000
Change: +76% · Conversion: Difficult
COMMERCIAL (GENERAL)
$960,000
Change: +61% · Conversion: Moderate
OFFICE BUILDING
$955,000
Change: +60% · Conversion: Moderate
Blend value · Realmo final
$1.25M
Range $1.12M – $1.37M · ±10% · vs last sale $1.33M (May 4 2020)
Last sale anchor
$1.33M
May 4 2020
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
$84 / 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
$91,836
Tax year 2023
Assessed value
$934,605
Assessed 2023
Previous assessed
$468,930
+99.3% YoY
Effective rate
9.83%
On assessed value
Assessed land
$468,930
Assessed improvement
$465,675
Land market value
$1,339,800
Improvement market value
$1,330,500
Total market value
$2,670,300
Applied tax rate
82.0000
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
2022
Stories
1
Total area
14,871 SF
Lot
15.84 ac (689,860 SF)
Zoning code
31-M2
APN
82-00227
UPID
US66-1039219
Jurisdiction
LUCAS
Zoning & alternative use
31-M2 · Sylvania, OH
Zoning 31-M2 · permitted uses
31-M2 · Sylvania, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Sylvania. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING
Est. value
$1.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.1M
RETAIL STORES
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$960,000
OFFICE BUILDING
Est. value
$955,000
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
RETAIL STORES
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
2022
Stories
1
Lot
15.84 ac
Current owner
From public records · entity-resolved
Sylvania Place Apartments LLC
Entity
Mailing address
321 WOODLAND PASS STE #100, EAST LANSING, MI 48823-2085
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 31, 2025
—
Sylvania Place Apartments LLC
—
Deed
related
$21,000,000 · Key Bank NA
Apr 8, 2021
—
Sylvania Place Apartments LLC
—
Deed
related
$21,000,000 · Tcf National 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.
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