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    Property profile & analytics

    6135 Trust Dr Holland, OH 43528

    • Office buildings
    • 57,990 SF
    • 4.44 lot acres
    For Lease
    View listing
    $16 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-0258866
    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

    • Shindler Neff, LLP / Law Firm
    • James V. Shindler, Jr. / Law Firm
    • Jender Katherine / Physician
    • Sandra K. Sulier, NP / Physician
    • Premier Women's Health: Sulier Sandy MD / Physician

    Property Details for 6135 Trust Dr

    Year built
    1987
    Lot size
    4.44 lot acres
    Property size
    57,990 SF
    Zone code
    19-C2
    Property type
    Office buildings
    APN
    65-57057
    APU
    6557057

    Description

    Waterplace South, a Class A office building located at 6135 Trust Dr, Holland, OH 43528, offers exceptional executive office space. This two-story building, totaling 58,552 square feet, underwent a complete renovation in 2019. Currently, 39,985 square feet of space is available for lease, divisible into units ranging from a minimum of 835 square feet to a maximum contiguous space of 14,855 square feet. The property sits on a 4.49-acre lot and boasts 120 parking spaces and elevators for convenient access. Its C-2 zoning allows for a variety of commercial uses. Strategically located near the I-475/US23 interchange (less than half a mile away), Waterplace South enjoys easy access to major transportation routes. Furthermore, its proximity to numerous restaurants, hotels, and other amenities within a one-mile radius adds to its appeal. The building's address is conveniently located on Trust Drive, with Airport Highway as a cross street. The property's APN is 65-57057. This prime location and modern amenities make Waterplace South an ideal choice for businesses seeking high-quality executive office space in Holland, Ohio.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,100,000
      Market price range: $3.06M - $4.10M
      AI Estimate
      $4,846,000
      Market price range: $2.48M - $5.18M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $3,605,000
      Current use
      MEDICAL BUILDING
      $5,870,000
      Change: +63% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $4,700,000
      Change: +30% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $4,245,000
      Change: +18% Conversion: Difficult
      RETAIL STORES
      $4,100,000
      Change: +14% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $3,740,000
      Change: +4% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Holland
    County
    Lucas
    State
    Ohio
    Longitude
    -83.6881
    Latitude
    41.6153
    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
    $127,009
    $73,360
    $1,356,950
    $1,430,310
    -
    $209,600
    $3,877,000
    $4,086,600

    Comparable in this City

    • Value Estimation by Request
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      1421 Holloway Rd

      OFFICE BUILDING • 5,906 SF
      1421 Holloway Rd, Holland, OH 43528-8647
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    • Value Estimation
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      8,130 SF

      7441 International Dr

      OFFICE BUILDING • 8,130 SF
      7441 International Dr, Holland, OH 43528-8623
      View Details
    • Value Estimation
      $640,000
      7,292 SF

      6923 Angola Rd

      OFFICE BUILDING • 7,292 SF
      6923 Angola Rd, Holland, OH 43528-6000
      View Details

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    Similar Nearby for Lease

    • $16 SF/Yr

      Waterplace South Office Suites Available

      Office suites for lease with convenient access and ample parking.
      6135 Trust Dr, Holland, OH 43528
      View Details
    • Contact for pricing
      2,030 SF

      Modern Office Suites For Lease

      Modern office suites in Holland, Ohio, with highway access.
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      Office Space in Holland, OH

      Office space for rent in a convenient Holland, OH location.
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      View Details
    • $9 SF/Yr
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      7301 International Drive Office Space

      17,952 SF Office, Holland, Ohio
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      Holland Office Condos for Lease

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    • Contact for pricing
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      Executive Office Suites in Holland, OH

      Prime Office Space Available - 990 sq ft Suites
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      View Details
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    Holland, OH 43528
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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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