5650 Central AveToledo, OH 43615

Property Details for 5650 Central Ave

Year built

1971

Lot size

1.84 AC

Property size (Sq ft)

33,840 SF

Zone code

20-C2

Property type

Office buildings

APN

78-36517

APU

7836517

Description

This single-tenant office space, totaling 3,000 square feet, is located at 5650 Central Avenue, Suite A, in Toledo's Sylvania Township. The property boasts excellent visibility and accessibility on a major thoroughfare, with ample surface parking (175 spaces) and two curb cuts. The building, a 33,840 square foot Class B structure built in 1971, features a planned 2024 facade and parking lot renovation. The space itself includes a kitchenette/break area, three private offices, and an open workspace. All utilities are included in the monthly rent; tenant is responsible for in-suite janitorial expenses. The C-2 zoning allows for diverse commercial uses. The location offers easy access to numerous restaurants and major retailers, and is conveniently situated one mile east of the I-475/US-23 interchange. High traffic counts are reported for Central Avenue (23,316 VPD), I-475/US-23 (95,051 VPD), and Holland Sylvania (19,159 VPD). The property sits on a 3.23-acre lot (APN: 7836517 & 7836537) and benefits from Sylvania Township's lack of personal income tax. This is an exceptional opportunity for businesses seeking high-visibility office or retail space in a prime Toledo location.

• CAP approach

  CAP return

  Valuation

  6%

  $5,793,000

  6.5%

  $5,347,384

  7%

  $4,965,428

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,165,394

  Geo Method

  $3,165,394

• Alternative Use

  Use

  Valuation

  Residential

  $6,630,757

  Hospitality

  $6,073,738

  Educational

  $5,053,278

  Medical

  $5,227,068

  Retail

  $7,860,655

Location Insight

City

Toledo

County

Lucas

State

Ohio

Latitude

41.6777

Longitude

-83.6767

CBSA code

45780

CBSA name

TOLEDO, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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