Listed by Signature Associates
$450,000
10151 Maumee Western Road
Details
APN 34294; 2302947
Property Type Retail, Multifamily
Sub Type Apartment Building, Free-Standing Building
Square Footage 7,246
Units 8
NOI $57,333
Year Built 1949, 1957, 1959
Buildings 3
Stories 3
Acreage 1.270
Zoning C-2 (General Commercial District)
Parking Spaces 17 spaces
Parking Per SqFt 2.35
Retail | 7,246 SqFt
Investment highlights
- Street: 2 lane, 2 way located at the roundabout
- Closest Cross Street: Located on Southeast corner of Maumee Western Road (20A) and Eber Road
- Power: 200 amp & 120/240 Single phase
- Commercial Building: New expanded parking lot added an additional 8 parking spaces. (Summer 2018)
- Stove
- Deep fryer
- 3 coolers
- 1 freezer
- 1 Microwave
- 3 compartment sink
- Mop sink
- 1 hand wash sink in kitchen and 1 hand wash sink in bar
- Barstools, tables and chairs
- 2 prep sinks
- Automatic dishwasher
- Ancil system
- Full kitchen and equipment – including some sinks , pots, pans, dishes, etc. Some equipment is owned by the tenant.
- Hot water heater
- Septic system
- Shared well
- Commercial grade septic tank with pump station and (2 – 2,500 gallon holding tanks ( blue barrels) with pump station ( black barrels) located behind the building.
- 8 Unit Apartment Building: 1 – 2 bedroom, unfurnished.
- 1 – 1 bedroom, room with private bath and entrance, furnished.
- 6 - 1 bedrooms with private bath and entrance, furnished.
- Full sized bed, chest of drawers and an oversized chair, fridge and microwave in the furnished units.
- Apartments are leased month to month.
- Utilities are all included in rent.
- Cable is included in rent.
- Central thermostat in the mechanical room (located in the middle of the building).
- 1,500 gallon septic tank and leach field in front of apartment building.
- New façade, split face block.
- 4 new windows (2 front and 2 side).
- Single Family Residential House: 3 bedrooms, 1 ½ baths, dining room, kitchen, living room, 1 large bedroom, 2 bedrooms (12x12), mudroom, large utility room, ½ bathroom, 2.5 car garage, radiant heat in garage ceilings, supplemental bases board heat.
- All electric
- 1,500 gallon septic tank and leach field in front of house.
- Shared well
- Recently replaced thermopane windows, steel doors all 2 years old.
- Fenced in yard.
- All appliances belong to the owner.
- Cooktop stove, refrigerator, new hot water tank in 2017.
- The tenant cuts the grass.
- Pets are allowed with a $500 nonrefundable deposit additional to the deposit they collect for leasing.
- Gas heater in pump house. Gas is paid for by the owner of the property.
Listing Contacts
Listed by Signature Associates
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$57,332.75
$4,777.73/mo
Valuation Metrics
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DSCR
12.74%
Cap Rate
12.74%
ROI
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