6100 Monroe StSylvania, OH 43560

Property Details for 6100 Monroe St

Year built

1923

Lot size

0.13 AC

Property size (Sq ft)

3,713 SF

Zone code

31-B2

Property type

Retail space

APN

82-07379

APU

8207379

Description

This freestanding office building, located at 6100 Monroe Street in Sylvania, Ohio, presents a compelling investment opportunity. The 2,801 square foot property features four to five private offices and two restrooms, providing ample space for a variety of business needs. A new roof was installed in 2021, ensuring long-term structural integrity and minimizing maintenance costs. Currently leased to a single tenant, the lease agreement expires September 30, 2025. While the current tenant is willing to consider early termination, details regarding the lease are available upon request. The building's strategic location on Monroe Street, directly at the US 23 expressway interchange, offers exceptional visibility and convenient access for employees and clients. The asking price is $325,000, translating to a price per square foot of $116.03. This represents a strong value proposition for investors seeking a well-maintained, strategically located office building in the thriving Sylvania, Ohio market within Lucas County, zip code 43560. The property's prime location and existing lease provide immediate cash flow potential, making it an attractive option for both seasoned and emerging investors. This traditional office building offers a solid foundation for future growth and profitability.

• CAP approach

  CAP return

  Valuation

  6%

  $934,363

  6.5%

  $862,489

  7%

  $800,882

• Comparable approach

  Method

  Valuation

  Relative Method

  $875,231

  Geo Method

  $875,231

• Alternative Use

  Use

  Valuation

  Residential

  $727,541

  Hospitality

  $666,424

  Educational

  $554,457

  Medical

  $573,526

  Retail

  $862,489

Location Insight

City

Sylvania

County

Lucas

State

Ohio

Latitude

41.7156

Longitude

-83.6903

CBSA code

45780

CBSA name

TOLEDO, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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