For Sale
$1,800,000

22 Turtle Creek CirSwanton, OH 43558

Medical Office Building, High Cap Rate, Excellent Location

Overview

Added:
Dec 11, 2024
Days on market:
115
Exceptional investment opportunity: the Turtle Creek Medical Complex, a single-story, 15,972 square foot Class B medical office building in Swanton, Ohio. This multi-tenant property boasts a strong 7.31% capitalization rate and a current NOI of $131,611. Situated on a 3.99-acre lot at 22 Turtle Creek Cir, 43558, the complex features 113 parking spaces and is conveniently located near Airport Highway, offering easy access to I-475/US 23 (10 miles). The property benefits from high traffic counts (22,475 cars per day in 2022) and proximity to various restaurants and amenities. Built in 2001, the building is exceptionally well-maintained and currently has 76% occupancy across two units. All leases are NNN (Net, Net, Net) and include additional renewal options. The property is zoned B3- Central Business. Currently, tenants include Mercy, Toledo Hospital, and McLaren. Two vacancies totaling 24% exist, representing an opportunity to increase occupancy and revenue. The asking price is $1,800,000. Financial details, including a rent roll, are available upon request.

Highlights

  • Contact broker for rent roll.
  • 24% vacancy rate across two vacant units.
  • Exceptionally well-maintained building.
  • All leases include additional renewal options.
  • Triple-net (NNN) leases.
  • Tenants include Mercy, Toledo Hospital, and McLaren.

Property Details for 22 Turtle Creek Cir

Property type
Office properties, Medical offices
Square Feet
15,972 SF
Class
B
Year Built
2001
Buildings
1
Stories
1
Lot Size (sq. ft)
173,804 SF
Units
2

Location Insight

City
Swanton
County
Lucas
State
Ohio
Latitude
41.5792602
Longitude
-83.8767059
22 Turtle Creek Cir, Swanton, Ohio

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22 Turtle Creek Cir
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