500 Commerce Park BlvdNorthwood, OH 43619

Property Details for 500 Commerce Park Blvd

Year built

2006

Lot size

2.00 AC

Property size (Sq ft)

9,968 SF

Property type

Retail properties

Property subtype

Bars

APN

M50-812-3403-23-024.000

APU

M50812340323024000

Description

This exceptional investment opportunity presents a 17,136 square foot retail shopping center located at 500 Commerce Park Blvd, Northwood, Ohio 43619. The property consists of two buildings. Building 500, totaling 7,136 square feet, is fully occupied by four tenants with a triple-net lease structure, meaning tenants cover all operating expenses. Building 510 encompasses 10,000 square feet and is currently owner-occupied, offering potential for future income generation. The property boasts ample parking with 87 spaces, recently sealed and restriped for optimal functionality. Its strategic location on Commerce Park Boulevard, with frontage on Woodville Road, provides excellent visibility and accessibility. The center benefits from its proximity to I-280 and the new Enclave mixed-use development, ensuring strong potential for growth and increased foot traffic. The asking price is $1,295,000, translating to $75.57 per square foot. This presents a compelling owner-user or investment opportunity with significant cash flow potential in a thriving commercial area. The property is situated in Wood County, Ohio, offering a stable and attractive market for retail investment.

• CAP approach

  CAP return

  Valuation

  6%

  $2,508,410

  6.5%

  $2,315,456

  7%

  $2,150,066

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,349,665

  Geo Method

  $2,349,665

• Alternative Use

  Use

  Valuation

  Residential

  $1,953,173

  Hospitality

  $1,789,096

  Educational

  $1,488,507

  Medical

  $1,539,699

  Retail

  $2,315,456

Location Insight

City

Northwood

County

Wood

State

Ohio

Latitude

41.6061

Longitude

-83.4716

CBSA code

45780

CBSA name

TOLEDO, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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