3740 W Sylvania Ave - Medical FOR SALE


Toledo, OH 43623- Franklin Park
$4,578,000 USD
717-514-6390
3740 W Sylvania Ave, Toledo, OH for Sale
$4,578,000 USD
Medical - FOR SALE
1/40
null | 8.5% Cap Rate

3740 W Sylvania Ave
Toledo, OH 43623
Franklin Park


HIGHLIGHTS

  • Triple net (NNN) lease with over 13 years of remaining term and annual 1.5% rent escalations
  • Backed by private equity and operating 780+ providers nationwide, the tenant brings institutional creditworthiness
  • Recent roof replacement and heat exchanger installation mitigate near-term capital expense risk

OVERVIEW

Zeustra Healthcare Real Estate Advisors is pleased to present the exclusive opportunity to acquire 3740 W Sylvania Avenue in Toledo, Ohio—a ±28,242-square-foot, single-tenant medical office building 100% leased to Retina Vitreous Associates, a highly respected retina specialty group affiliated with EyeCare Partners, the nation’s leading clinically integrated network of ophthalmology and optometry providers. Strategically positioned within a major medical corridor in Northwest Ohio, this institutionalquality asset is backed by over 13 years of remaining primary lease term with 1.5% annual rent escalations, offering durable, long-term income growth. The lease is structured on a triple net (NNN) basis, eliminating landlord responsibilities and delivering true passive cash flow. Despite occupying approximately 31% of the interior space, the tenant pays full rent on the entire premises—ensuring 100% contractual income with no exposure to vacancy risk. The property has benefited from recent, high-impact capital improvements totaling several hundred thousand dollars, including a full roof replacement, installation of energy-efficient LED lighting throughout the interior and parking areas, upgraded exterior fixtures, and a new heat exchanger for the boiler system. These enhancements significantly reduce near-term capital needs and contribute to long-term operational stability. The tenant’s affiliation with EyeCare Partners—a fast-growing, PE-backed platform operating over 780 providers nationwide—adds another layer of credit strength, while the mission-critical nature of retina care, which serves an aging U.S. population, enhances the long-term durability of the tenancy. Offered at a significant discount to replacement cost and below present market value, this asset presents a rare opportunity to acquire a stabilized, income-generating healthcare property with strong in-place credit, minimal management requirements, and a robust lease structure in an established medical market. This is an ideal acquisition for investors seeking long-term, inflation hedged returns with minimal downside risk.

FOR SALE DETAILS

PRICE

$4,578,000 USD

PRICE/SF

$188 USD /SF

CAP RATE

8.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1987

SPRINKLERS

-

PARKING SPACES

186

LAND DETAILS

LAND ACRES

3.11 AC

LAND SF

135,472 SF

ZONING

CO

APN/PARCEL ID

22-21981

ASK ABOUT THIS PROPERTY

Nick MyersZeustra Real Estate Investment ServicesMore Info
717-514-6390

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Nick MyersZeustra Real Estate Investment ServicesMore Info
717-514-6390

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.