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Office

Liberty Square Office Park

4149-4169 N Holland Sylvania Rd, Toledo, OH 43623

Listing Price: $2,700,000

Cap Rate
8.75%
Gross SF
31,665
Rentable SF
31,665
Price/Gross SF
$85.27
Lot Size
2.55 acres
Year Built
1995

Investment Overview

Marcus & Millichap is pleased to present to the market the opportunity to acquire the Liberty Square Office Park of Toledo, Ohio. The 31,665 Square-Foot, Three-Building, Class B Office Park is strategically located to just-off the Interstate 475 and US Route 23 interchange. The Suburban Office Park is well-positioned along North Holland Sylvania, a densely populated major thoroughfare in northwest suburban Toledo. Located at the Western Tip of Lake Erie, the Toledo Metropolitan Statistical Area boasts a population of 600,000 people and functions as a port city catering to strong industrial, logistics, and professional business segments. The Liberty Square Office Park is located 4 miles west of Toledo University, a major D1 University in the Mid-American Conference, and nearest Holland and Sylvania. The Office Park currently operates at 90% occupancy with a diverse-tenant mix of professional offices, including local law firms, financial advisors, and physicians, while anchored by Refresh Management in nearly 20% of the NLA. The Liberty Square Office Park is offered to market asking $2.7M, reflecting an 8.50% CAP Rate on actual financials and a below replacement cost value of $85.27 per square-foot. Featuring a unique blend of stabilized tenants with long-standing historical occupancy and value-add upside, the Subject Property is an excellent investment opportunity for any investor. The aforementioned value-add opportunities that can be capitalized on by a detail-oriented investor include; considerable lease-up opportunity, the raising of rents to market value, a potential of lease type to NNN or delegation of some operating expenses to tenants as well as potential to lower operating expenses on the whole which currently function at $6.64 per square-foot.

Investment Highlights

  • 31,665 Square-Foot, 3-Building Class B Office Park in Toledo MSA
  • Strategically Positioned Just-Off I 475 & US Route 23 | 4 Miles from Toledo University
  • High Historical Occupancy Rates | Long-Standing, Diverse Tenant-Mix | 91% Occupancy
  • Offered to Market Below Replacement Cost | $85.27 per Square-Foot
  • Multiple Value-Add Opportunities | Lease-Up | Raising Rents | Lowering Operating Expenses

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (216) 264-2000

    License(s) OH: BRK.2007005898

    Ohio

Office

Liberty Square Office Park

Listing Price: $2,700,000

Cap Rate
8.75%
Gross SF
31,665
Rentable SF
31,665
Price/Gross SF
$85.27
Lot Size
2.55 acres
Year Built
1995

Investment Highlights

  • 31,665 Square-Foot, 3-Building Class B Office Park in Toledo MSA
  • Strategically Positioned Just-Off I 475 & US Route 23 | 4 Miles from Toledo University
  • High Historical Occupancy Rates | Long-Standing, Diverse Tenant-Mix | 91% Occupancy
  • Offered to Market Below Replacement Cost | $85.27 per Square-Foot
  • Multiple Value-Add Opportunities | Lease-Up | Raising Rents | Lowering Operating Expenses

Investment Overview

Marcus & Millichap is pleased to present to the market the opportunity to acquire the Liberty Square Office Park of Toledo, Ohio. The 31,665 Square-Foot, Three-Building, Class B Office Park is strategically located to just-off the Interstate 475 and US Route 23 interchange. The Suburban Office Park is well-positioned along North Holland Sylvania, a densely populated major thoroughfare in northwest suburban Toledo. Located at the Western Tip of Lake Erie, the Toledo Metropolitan Statistical Area boasts a population of 600,000 people and functions as a port city catering to strong industrial, logistics, and professional business segments. The Liberty Square Office Park is located 4 miles west of Toledo University, a major D1 University in the Mid-American Conference, and nearest Holland and Sylvania. The Office Park currently operates at 90% occupancy with a diverse-tenant mix of professional offices, including local law firms, financial advisors, and physicians, while anchored by Refresh Management in nearly 20% of the NLA. The Liberty Square Office Park is offered to market asking $2.7M, reflecting an 8.50% CAP Rate on actual financials and a below replacement cost value of $85.27 per square-foot. Featuring a unique blend of stabilized tenants with long-standing historical occupancy and value-add upside, the Subject Property is an excellent investment opportunity for any investor. The aforementioned value-add opportunities that can be capitalized on by a detail-oriented investor include; considerable lease-up opportunity, the raising of rents to market value, a potential of lease type to NNN or delegation of some operating expenses to tenants as well as potential to lower operating expenses on the whole which currently function at $6.64 per square-foot.

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (216) 264-2000

    License(s): OH: BRK.2007005898

    Ohio

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