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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5333 Secor Rd Toledo, OH 43623

    • Office buildings
    • 28,500 SF
    • 1.43 lot acres
    For Lease
    View listing
    $8 SF/Yr
    Last Sale
    Jul 29, 2024
    $1,690,000
    Value Estimations
    $1,690,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-0247922
    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.

    Current Use by Public Records

    • Bob's Custom Store Interiors / Cabinet Maker
    • Oravecz & Associates, LLC. / Land Surveyor / Engineer
    • Honei B Collection / Hair Salon
    • Done In A Day Detailing LLC / Car Detailing Service
    • Horton Hauls Junk Toledo / Waste Management Service / Debris Removal Service

    Property Details for 5333 Secor Rd

    Year built
    1971
    Lot size
    1.43 lot acres
    Property size
    28,500 SF
    Zone code
    10-IL
    Property type
    Office buildings
    APN
    23-36194
    APU
    2336194

    Description

    This exceptional 28,500 square foot industrial flex space property, located at 5333 Secor Road in Toledo, Ohio, presents a compelling investment opportunity. The single-story building, constructed in 1972, features 20 individual suites, with 1,500 square feet currently vacant, offering immediate potential for rental income. The property sits on a 1.42-acre lot and boasts ample parking with 100 spaces available. Ceiling heights range from 8 to 9 feet, providing versatile space for a variety of uses. The property is zoned IL - Limited Industrial, allowing for a range of industrial and light commercial activities. The convenient West Toledo location, near McGregor, provides easy access to major transportation routes. The property's multiple tenancy structure offers flexibility and diversification of income streams. The APN is 23-36194 and the zip code is 43623. This is an excellent opportunity to acquire a well-located, established industrial property with significant upside potential. The existing infrastructure and ample parking make this a highly desirable location for businesses seeking flexible and functional space. The current vacancy provides an immediate opportunity to increase revenue and occupancy. This property is offered as a triple net lease (NNN).

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,690,000
      ML approach
      $1,690,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,907,000
      Market price range: $1.10M - $4.80M

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

    Location Insight

    • Map
    • Local Demand
    City
    Toledo
    County
    Lucas
    State
    Ohio
    Longitude
    -83.6252
    Latitude
    41.7128
    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
    $33,573
    $25,375
    $324,625
    $350,000
    -
    $72,500
    $927,500
    $1,000,000

    Comparable in this City

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      4349 Talmadge Rd

      OFFICE BUILDING • 6,880 SF
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    • Value Estimation by Request
      2,604 SF

      4120 Secor Rd

      OFFICE BUILDING • 2,604 SF
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    • Value Estimation by Request
      3,807 SF

      5393 Monroe St

      OFFICE BUILDING • 3,807 SF
      5393 Monroe St, Toledo, OH 43623-2851
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    • Value Estimation
      $1,035,000
      5,610 SF

      6036 Renaissance Pl

      OFFICE BUILDING • 5,610 SF
      6036 Renaissance Pl, Toledo, OH 43623-4710
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      27,848 SF

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    • $149,900
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      Toledo Executive Office Land

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      Secor Road Office Building For Sale

      Toledo Office Space - 13,214 SF
      4428 Secor Rd, Toledo, OH 43623
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    • $149,900

      Sylvania Township Vacant Land

      Vacant land in Sylvania Township, perfect for office building.
      5901 Renaissance Pl, Toledo, OH 43623
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    • $185,000

      Four-Unit Multifamily Investment Opportunity

      Four-unit complex in Washington Local School District, all units leased.
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      5,141 SF

      Existing Drive-Through Restaurant For Sale

      Restaurant property with existing drive-through and corporate store.
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    Similar Nearby for Lease

    • $9 SF/Yr
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      Single office space available for lease.
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    • $20 SF/Yr
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      Medical Space on Sylvania Avenue

      Sub-lease opportunity: 6,023 SF medical space with high visibility.
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      Medical/Professional Office Space Available

      Medical/professional office space featuring a large conference room and storage.
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    • $15 SF/Yr
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      Toledo Medical Office Building For Lease

      Prime Medical Office Space Available in Toledo, OH
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    • $11 SF/Yr
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      Talmadge Road Office/Retail Space

      2,710 SF office or retail space for lease.
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    • Contact for pricing
      44,922 SF

      Toledo Executive Office Suites

      Prime Sylvania Twp location, multiple suites available
      4149 Holland Sylvania Rd, Toledo, OH 43623
      View Details
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    5333 Secor Rd
    Toledo, OH 43623
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    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
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