959 Illinois AveMaumee, OH 43537

Property Details for 959 Illinois Ave

Year built

2004

Lot size

5.00 AC

Property size (Sq ft)

22,272 SF

Zone code

16-C2

Property type

Office properties

Property subtype

Office buildings

APN

36-80177

APU

3680177

Description

This exceptional medical office building, located at 959 Illinois Ave in Maumee, Ohio, presents a unique investment opportunity. Built in 2004, the 14,848 square foot building sits on a spacious five-acre lot in Lucas County. The property is impeccably maintained and boasts a Class A designation, ensuring a high-quality environment for tenants and staff. The building is fully ADA compliant and includes an elevator for convenient access to all floors. Currently, there are three available spaces, offering flexibility for various medical practices or office uses. The first floor offers 2,813 square feet of professional office space, easily divisible to accommodate different needs. The second floor comprises 3,174 square feet of finished professional office space, and an additional 1,495 square feet of raw space ready for build-out to suit specific requirements. This versatile property is ideal for a variety of medical or office tenants seeking a prime location in Maumee, Ohio, with ample parking and a professional atmosphere. The building's multiple tenancy structure provides opportunities for diverse income streams. This is a value-added opportunity for discerning investors or businesses seeking a high-quality, well-maintained space in a desirable location. The zip code is 43537.

• CAP approach

  CAP return

  Valuation

  6%

  $3,812,698

  6.5%

  $3,519,413

  7%

  $3,268,027

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,083,323

  Geo Method

  $2,083,323

• Alternative Use

  Use

  Valuation

  Residential

  $4,364,072

  Hospitality

  $3,997,467

  Educational

  $3,325,846

  Medical

  $3,440,226

  Retail

  $5,173,538

Location Insight

City

Maumee

County

Lucas

State

Ohio

Latitude

41.5718

Longitude

-83.6802

CBSA code

45780

CBSA name

TOLEDO, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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