1661 Holland RdMaumee, OH 43537

Property Details for 1661 Holland Rd

Year built

1987

Lot size

2.31 AC

Property size (Sq ft)

16,307 SF

Zone code

16-CM

Property type

Healthcare properties

Property subtype

Medical offices

APN

36-40825

APU

3640825

Description

This single-story, 16,307-square-foot Class B medical office building in Maumee, Ohio, presents a compelling investment opportunity. Located at 1661 Holland Rd, 43537, this property boasts a 2.33-acre lot and features a multi-tenant occupancy with five current tenants, currently at 51% occupancy. Built in 1987, the building is zoned 16-CM and offers ample parking with 97 surface spaces. Its strategic location provides excellent visibility and accessibility, situated just one mile from the Ohio Turnpike (I-80/I-90) and 1.5 miles from US-23/I-475, a corridor with over 100,000 vehicles per day. The property is also within minutes of major national retailers including Meijer, Kroger, Cracker Barrel, and Outback Steakhouse. This net lease investment offers potential for increased net operating income (NOI) through leasing up the currently available space. The property is a single building on a large lot, providing significant potential for future development or expansion. This is an excellent opportunity to acquire a well-located medical office building with significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $2,791,562

  6.5%

  $2,576,826

  7%

  $2,392,767

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,525,357

  Geo Method

  $1,525,357

• Alternative Use

  Use

  Valuation

  Residential

  $3,195,264

  Hospitality

  $2,926,845

  Educational

  $2,435,101

  Medical

  $2,518,848

  Retail

  $3,787,934

Location Insight

City

Maumee

County

Lucas

State

Ohio

Latitude

41.5889

Longitude

-83.6779

CBSA code

45780

CBSA name

TOLEDO, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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