For Sale
$1,700,000

702 Commerce DrPerrysburg, OH 43551

11,520 SF Office, 8.85% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional 11,520-square-foot office building, located at 702 Commerce Dr in Perrysburg, Ohio, presents a compelling investment opportunity. The property, built in 2004 and extensively renovated in 2020, boasts a Class B designation and is situated on a 1.59-acre lot within a Planned Business Park zoning district. Currently operating at 100% occupancy, the building generates a strong net operating income (NOI) of $150,392, yielding an attractive 8.85% capitalization rate. The asking price is $1,700,000. The property's strategic location offers unparalleled convenience, with exceptional accessibility to I-475 and I-75, placing it minutes from two major shopping centers. Four out of five recent leases have been renewed or signed, ensuring long-term stability. Further enhancing the property's value are recent improvements including a new roof (2020) and a resurfaced parking lot (2022). The single-story building is suitable for executive or medical office uses. This fully leased investment property offers a rare combination of high occupancy, strong cash flow, and a prime location in a thriving Perrysburg community. The property's features and location make it an ideal investment for discerning buyers seeking a stable and profitable asset. This is a turnkey opportunity with minimal vacancy risk and significant upside potential.

Highlights

  • 100% Occupancy
  • Four of five leases recently renewed or signed
  • Excellent access to two major expressways
  • Prime location near popular shopping centers
  • Parking lot resurfaced in 2022
  • New roof installed in 2020

Property Details for 702 Commerce Dr

Property type
Office properties, Medical offices
Square Feet
11,520 SF
Class
B
Year Built/Renovated
2004/2020
Stories
1
Lot Size (sq. ft)
69,260 SF

Location Insight

City
Perrysburg
County
Wood
State
Ohio
Latitude
41.5443026
Longitude
-83.6412432
702 Commerce Dr, Perrysburg, Ohio

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702 Commerce Dr
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