515 Parkview St Wauseon, OH 43567-1239
- Banks
- 3,784 SF
- 0.49 lot acres
Current Use by Public Records
- Smiles of Ohio Orthodontics / Orthodontist / Oral Surgeon
- ATM The State Bk & Tr Co / Atm / Bank
- ATM / Atm
- Dr. Jon Potocki / Dentist / Health Care Facility
Property Details for 515 Parkview St
- Year built
- 1969
- Lot size
- 0.49 lot acres
- Property size
- 3,784 SF
- Property type
- Banks
- APN
- 06-011100-00.000
- APU
- 601110000000
Description
This exceptional investment opportunity presents a 3,784 square foot medical office building located at 515 Parkview St, Wauseon, OH 43567. The property is currently 100% occupied by Smile Doctors, a leading dental support organization with over 450 locations nationwide, under a net lease agreement commencing April 21, 2023, and expiring April 21, 2028, with two five-year renewal options. The asking price is $979,200, representing a price per square foot of $261 and a compelling 9.50% cap rate based on a current NOI of $93,024. The lease includes a 2% annual rent increase, providing built-in protection against inflation and increasing cash flow. Built in 1969, this single-building property benefits from its convenient location near Wauseon Elementary and High School. Smile Doctors' significant investment in the location, coupled with their established business model and expansion strategy, underscores the long-term stability and growth potential of this investment. The property's strong tenant, high occupancy rate, and attractive financial metrics make it an ideal addition to any diversified portfolio. This is a rare opportunity to acquire a high-performing, net-leased medical office building with a strong tenant and significant upside potential.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $215,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $240,000
- 6.5%
- $225,000
- 7%
- $245,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $195,000
- Geo Method
- $220,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $240,000
- Retail
- $195,000
- Mixed-Use
- $240,000
- Hospitality
- $240,000
- Educational
- $180,000
- Residential Income
- $215,000
- Energy
- $230,000
- Income-Based Land
- $215,000
- Food Service
- $225,000
Location Insight
- Map
- Local Demand
- City
- Wauseon
- County
- Fulton
- State
- Ohio
- Longitude
- -84.134
- Latitude
- 41.5541
- CBSA code
- 45780
- CBSA name
- TOLEDO, OH METROPOLITAN STATISTICAL AREA
