4900 Mccord RdSylvania, OH 43560

Property Details for 4900 Mccord Rd

Year built

1975

Lot size

2.80 AC

Property size (Sq ft)

28,500 SF

Zone code

31-R3

Property type

Retail properties

Property subtype

Strip malls

APN

82-04531

APU

8204531

Description

This exceptional retail opportunity in Sylvania, Ohio, presents 5,000 to 10,000 square feet of space within a thriving neighborhood center at 4900 N. McCord Road. The property, built in 1975, boasts a total of 28,500 square feet on a 3.75-acre lot and is zoned Planned Development, B-2 (General Business District) in Lucas County. Recent improvements include updated facades, ensuring a modern and attractive storefront. Ample parking is available for customers and employees. The center enjoys high occupancy rates, with established tenants including the Ohio Bureau of Motor Vehicles, Sylvania License Bureau, Allstate Insurance, Zane's Lebanese Grill, and Sylvan Pantry. This prime location along a major commuter route serves Sylvania's growing population, with a strong demographic profile: 47,986 people reside within a three-mile radius, exhibiting a median household income of $105,314. The proximity to Lourdes University further enhances the area's appeal and potential customer base. This property offers a unique chance to establish or expand a business in a vibrant and well-established commercial center.

• CAP approach

  CAP return

  Valuation

  6%

  $7,171,918

  6.5%

  $6,620,232

  7%

  $6,147,359

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,718,043

  Geo Method

  $6,718,043

• Alternative Use

  Use

  Valuation

  Residential

  $5,584,414

  Hospitality

  $5,115,293

  Educational

  $4,255,864

  Medical

  $4,402,230

  Retail

  $6,620,232

Location Insight

City

Sylvania

County

Lucas

State

Ohio

Latitude

41.7043

Longitude

-83.7035

CBSA code

45780

CBSA name

TOLEDO, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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