Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    528 Illinois Ave Maumee, OH 43537
    Back to Search
    Property profile & analytics

    528 Illinois Ave, Maumee, OH 43537

    View on Map
    • Retail properties & Spaces
    • 161,624 SF
    • 15.85 lot acres
    Off-Market
    Last Sale Jun 30, 2023
    $2,884,000
    Property ID
    US66-1502310
    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.
    Value Estimations
    $3,030,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 528 Illinois Ave

    Year built
    1972
    Lot size
    15.85 lot acres
    Zone code
    16-C2
    Property type
    Retail properties & Spaces
    APN
    36-04282
    APU
    3604282

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 30, 2023 — Ransom & Randolph Properties LLC K2 NA Ltd Quit Claim Deed · related —
    May 31, 2018 — K2 NA Ltd — Deed · related $2.7M · Signature Bank NA
    Dec 5, 2017 — K2na Ltd K2na Ltd Quit Claim Deed · related —
    Nov 22, 2017 — 530 Il LLC K2 NA Ltd Warranty Deed · related —
    Aug 18, 2017 $2,884,000 K2 NA Ltd Andersons INC Grant Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,235,000
      ML approach
      $3,110,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Maumee
    County
    Lucas
    State
    Ohio
    Longitude
    -83.6683
    Latitude
    41.567
    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
    $106,791
    $324,520
    $641,200
    $965,720
    -
    $927,200
    $1,832,000
    $2,759,200

    Comparable in this City

    • Value Estimation by Request
      3,108 SF

      917 Conant St

      Individual retail properties
      917 Conant St, Maumee, OH 43537
      View Details
    • Value Estimation by Request
      4,874 SF

      705-713 Conant St

      Retail properties & Spaces
      705-713 Conant St, Maumee, OH 43537
      View Details
    • Value Estimation by Request
      4,874 SF

      705-713 Conant St

      Individual retail properties
      705-713 Conant St, Maumee, OH 43537
      View Details
    • Value Estimation
      $8,390,000
      144,322 SF

      Russell Rd

      DEPARTMENT STORE
      Russell Rd, Maumee, OH 43537
      View Details
    • Value Estimation by Request

      3100 Main St

      Retail properties & Spaces
      3100 Main St, Maumee, OH 43537
      View Details
    • Value Estimation by Request
      14,340 SF

      570 Dussel Dr

      Neighborhood centers
      570 Dussel Dr, Maumee, OH 43537
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Arrowhead Park Retail Space

      Retail space available in Arrowhead Park.
      1470 Ford St, Maumee, OH 43537
      View Details
    • Contact for pricing
      31,010 SF

      Retail Space For Sale

      Retail space available for purchase.
      1412 S Reynolds Rd, Maumee, OH 43537
      View Details
    • Contact for pricing
      4,874 SF

      Retail Space for Sale

      Retail space available for purchase.
      705-713 Conant St, Maumee, OH 43537
      View Details
    • Contact for pricing

      Development Land For Sale

      Approximately 6 acres of divisible land available for new development.
      1050 Clinic Dr, Maumee, OH 43537
      View Details
    • Contact for pricing

      Acreage at Tollgate and Lance

      Prime commercial land near US-20 and I-80/90 interchange.
      1650 Toll Gate Dr, Maumee, OH 43537
      View Details
    • Contact for pricing
      42,838 SF

      Arrowhead Business Park Office Suites

      Class A office building in Arrowhead Business Park for sale.
      1745 Indian Wood Cir, Maumee, OH 43537
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      7,176 SF

      Maumee Retail Space For Lease

      Prime Maumee location, 7,176 sq ft, 3,512 sq ft available.
      1238 Conant St, Maumee, OH 43537
      View Details
    • Contact for pricing
      8,550 SF

      Retail Property Near US Route

      Retail property located near US Route 24 in Maumee, OH.
      2300 Village Dr W, Maumee, OH 43537
      View Details
    • Contact for pricing

      Retail Space Available For Lease

      Retail space available for lease at 917 Conant St.
      917 Conant St, Maumee, OH 43537
      View Details
    • Contact for pricing
      3,340 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
      1,384 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
      1,945 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
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    528 Illinois Ave
    Maumee, OH 43537
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    528 Illinois Ave, Maumee, OH, 43537
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!