7311 Crossleigh CtToledo, OH 43617

Property Details for 7311 Crossleigh Ct

Property size (Sq ft)

14,076 SF

Property type

Retail properties

Property subtype

Banks

Description

This exceptional investment opportunity presents a 14,076 square-foot retail building net-leased to Morgan Stanley, a financially sound corporation, located at 7311 Crossleigh Ct, Toledo, OH 43617. The property boasts a strong 7.75% cap rate and a substantial net operating income (NOI) of $299,115. The lease, with a corporate guarantee, has a remaining term of 3.4 years, expiring April 12, 2028, and includes three five-year renewal options at fair market value. Landlord responsibilities are minimal, encompassing only roof and structure maintenance. Operating expenses, excluding property taxes, are subject to a 3.5% annual cap on increases. The tenant reimburses operating expenses, property taxes, and association dues. This free-standing building is situated within a thriving business park, benefiting from excellent visibility and accessibility. The location offers strong demographics, with 105,267 residents and an average household income of $113,000 within a three-mile radius. Convenient access to Interstate 475 (94,720 vehicles per day) and Central Ave (32,715 vehicles per day), a major commercial thoroughfare, further enhances the property's value. Nearby businesses include Lowe's, Arby's, Take 5 Oil Change, Taco Bell, Meijer Pharmacy, Pet Supplies Plus, and Advance Auto Parts. The asking price is $3,859,548, representing a price per square foot of $274.19. This is a rare opportunity to acquire a high-quality, net-leased property with a strong tenant and significant upside potential.

Location Insight

City

Toledo

County

Lucas

State

Ohio

Latitude

41.6789

Longitude

-83.7186

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