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Recession-Proof Neighborhood Ctr | $97/SF 503-559 S Reynolds Rd 35,850 SF 100% Leased Retail Building Toledo, OH 43615 $4,871,761 CAD ($135.89 CAD/SF) 8% Cap Rate
INVESTMENT HIGHLIGHTS
- Service-Oriented Center with 88% Occupancy: Long-Term, Tenured Anchor Tenants with Recent Renewals and Upside Available
- Attractive 8.00% CAP with Low $97/S.F. Asking Price
- 3.5 Miles to The University of Toledo: 17,000+ Students and 2,200+ Academic Staff/4,000+ Other Employees (Third Largest Employer in the Region)
- Anchored by Publicly Traded FirstCash (S&P "BB") which has 3k+ Locations, Safelite (S&P “BB-”) Renewed for 5 Years and GSA Tenant with Rare NNN Lease
- Strong Market with Average Household Incomes of Over $93,500 Within 5-Miles and Direct Access to Extremely Large Population Base
- Future NOI Growth: Many Tenants Have Annual Rental Bumps and the Converting of Gross to NNN Leases
EXECUTIVE SUMMARY
• Convenient Access Along Reynolds Road (Main Drag to Western Part of Toledo) with Signalized Intersection, Highly Visible Signage, Great Frontage and Highway Access: Adjacent to I-475 (85,000+ VPD) and 3-Miles to I-80/90
• Surrounded by Major Employers: Whirlpool Corporation (6,180 Employees), FCA US (6,160 Employees), General Motors Powertrain(1,970 Employees), Dana Corp. (1,570 Employees), Fifth-Third Bank's Northwest Ohio Headquarters (550 Employees), Owens Corning(1,235 Employees), Owens Illinois (840 Employees), Libbey Glass (1,300 Employees) and Pilkington North America (940 Employees)
• Desirable Suburban Community with Short Commute (8 Miles) to Downtown Toledo with Immediate Proximity to Several Colleges/Universities and Numerous Other High-Profile Companies
• Surrounded by Major Employers: Whirlpool Corporation (6,180 Employees), FCA US (6,160 Employees), General Motors Powertrain(1,970 Employees), Dana Corp. (1,570 Employees), Fifth-Third Bank's Northwest Ohio Headquarters (550 Employees), Owens Corning(1,235 Employees), Owens Illinois (840 Employees), Libbey Glass (1,300 Employees) and Pilkington North America (940 Employees)
• Desirable Suburban Community with Short Commute (8 Miles) to Downtown Toledo with Immediate Proximity to Several Colleges/Universities and Numerous Other High-Profile Companies
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
35,850 SF
Building Class
C
Year Built/Renovated
1984/2016
Price
$4,871,761 CAD
Price Per SF
$135.89 CAD
Cap Rate
8%
NOI
$389,893 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.26
Lot Size
3.12 AC
Zoning
CR - Regional Commercial
Parking
190 Spaces (5.3 Spaces per 1,000 SF Leased)
Frontage
653’ on Reynolds
AMENITIES
- Bus Line
- Pylon Sign
- Signage
- Waterfront
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Safelite
- -
-
99,999 SF
- -
-
Lorem Ipsum
-
Jan 0000
- US Recruitment
- -
-
99,999 SF
- -
-
Lorem Ipsum
-
Jan 0000
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Safelite | - | 99,999 SF | - | Lorem Ipsum | Jan 0000 | |
| US Recruitment | - | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 08-51499 | Improvements Assessment | $45,220 CAD |
| Land Assessment | $4,080 CAD | Total Assessment | $49,300 CAD |
PROPERTY TAXES
Parcel Number
08-51499
Land Assessment
$4,080 CAD
Improvements Assessment
$45,220 CAD
Total Assessment
$49,300 CAD
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Recession-Proof Neighborhood Ctr | $97/SF | 503-559 S Reynolds Rd
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