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Property profile & analytics
OFF-MARKET
Estimated value
$450,000
Medical Office Space
4041 Sylvania Ave Toledo, OH 43623-4465
Entity Owned
9-yr Hold
Absentee Owner
Free & Clear
Property ID
US66-6064166
Property summary
AI-generated overview
This exceptional Class A office building, situated in Toledo, Ohio's desirable West Toledo submarket near Franklin Park Mall, offers a variety of professional and medical office spaces. Built in 1994 and extensively renovated in 2022, the property boasts 32,043 square feet across two stories, encompassing ten suites. Units range from a minimum of 1,220 square feet to a maximum contiguous space of 3,925 square feet, providing flexibility for various business needs. The building features attractive 8'6" to 9'0" ceilings and ample parking with 154 spaces. Conveniently located at 4041 W Sylvania Ave, Toledo, OH 43623, the property is zoned C-O and sits on 3.24 acres of land. Modern amenities include elevators. Currently, 5,615 square feet of space is available. The property's prime location and recent renovations make it an ideal investment opportunity for businesses seeking a high-quality, well-maintained space in a thriving commercial area. The address is easily accessible via Talmadge Rd. The property's APN is 22-19757
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1993
Total area
32,043 SF
Lot
1.34 ac (58,364 SF)
Zoning code
10-CO
APN
22-19757
UPID
US66-6064166
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
-
Bruce Hillard Pediatrician Physician
-
Koop Doug Physician
-
Michelle L. Koop, DPT Physician
-
ProMedica Physicians Family Medicine - Toledo Medical Clinic
-
Dr. Victor J. Ricker, MD Pediatrician Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.09M
Blend (final)
Blend
$450k
Owner & transaction history
Edgevale Investments LLC · 9 yrs held
Edgevale Investments LLC
since 2017
5 recorded transactions
Zoning & alternative use
10-CO · Toledo, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
MEDICAL BUILDING
$2,375,000
Current use
AUTO REPAIR, GARAGE
$2,310,000
Change: -3% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,260,000
Change: -5% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,955,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$450k
Range $405k – $495k · ±10%
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
$14 / 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
$70,528
Tax year 2023
Assessed value
$733,985
Assessed 2023
Previous assessed
$733,985
+0.0% YoY
Effective rate
9.61%
On assessed value
Assessed land
$42,840
Assessed improvement
$691,145
Land market value
$122,400
Improvement market value
$1,974,700
Total market value
$2,097,100
Applied tax rate
22.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1993
Heating
NONE
Stories
2
Total area
32,043 SF
Lot
1.34 ac (58,364 SF)
Zoning code
10-CO
APN
22-19757
UPID
US66-6064166
Jurisdiction
LUCAS
Zoning & alternative use
10-CO · Toledo, OHZoning 10-CO · permitted uses
10-CO · Toledo, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$2.4M
AUTO REPAIR, GARAGE
Est. value
$2.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.3M
COMMERCIAL (GENERAL)
Est. value
$2.0M
MEDICAL BUILDING Current
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
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
1993
Heating
NONE
Stories
2
Lot
1.34 ac
Current owner
From public records · entity-resolved
Edgevale Investments LLC
Entity
Free & Clear · 9 yrs held
Mailing address
2754 CENTENNIAL RD, TOLEDO, OH 43617-1829
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 25, 2017
$53,900
Edgevale Investments LLC
Hallmark Homes Ltd
Warranty Deed
—
Dec 21, 2016
—
Jpm Holdings II LLC
—
Deed
related
$6,100,000 · Sun FCU
Feb 28, 2007
—
Jpm Holdings II LLC
Schwerkoske Family Pa Ltd
Warranty Deed
$6,440,000 · Goldman Sachs Commercial Mortgage C
Mar 17, 2006
$2,600,000
Schwerkoske Family LLC
Fpma Associates Ltd
Warranty Deed
—
—
—
Fpma Associates Ltd
—
Deed Of Trust
related
$1,850,000 · Huntington 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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