2531 Detroit AveToledo, OH 43610

Property Details for 2531 Detroit Ave

Year built

1922

Lot size

0.21 AC

Property size (Sq ft)

11,955 SF

Zone code

10-CN

Property type

Individual retail properties

APN

04-05447

APU

405447

Description

This exceptional commercial property presents a unique investment opportunity in Toledo, Ohio. The main building boasts an impressive 11,955 square feet of space, ideal for a wide range of commercial uses. Its design incorporates high ceilings and generously sized rooms, providing ample flexibility for customization and layout. The sturdy construction ensures longevity and durability. A key advantage is the building's prominent corner location, offering excellent street visibility and accessibility for potential customers. This high-traffic location is sure to attract significant attention. Adding to its appeal, the sale includes an additional adjacent lot, significantly expanding the available land area. This second parcel, identified by Parcel ID 0405154, provides extra space for expansion, parking, or outdoor amenities, further enhancing the property's value and potential. The combined property size, encompassing both the main building and the additional lot, totals 0.21 acres. Priced at $175,000, this property represents a compelling investment opportunity for discerning buyers seeking a substantial commercial space with significant expansion potential in a desirable Toledo location. The property's size and location make it suitable for a variety of businesses, offering a blank canvas for a new venture or the relocation of an existing one.

• CAP approach

  CAP return

  Valuation

  6%

  $2,322,460

  6.5%

  $2,143,810

  7%

  $1,990,680

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,163,000

  Geo Method

  $1,163,000

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $4,159,330

  Mixed-Use / Specialty

  $2,144,780

  Hospitality / Lodging

  $1,584,770

  Office

  $2,141,010

  Institutional / Educational

  $2,232,790

  Residential Income

  $2,612,360

  Multifamily

  $3,085,380

  Automotive / Energy

  $1,913,820

  Parking / Income-Based Land

  $651,927

  Restaurant / Food Service

  $1,133,890

  Healthcare / Senior Housing

  $2,190,600

Location Insight

City

Toledo

County

Lucas

State

Ohio

Latitude

41.6717

Longitude

-83.5662

CBSA code

45780

CBSA name

TOLEDO, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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