1345 Detroit AveToledo, OH 43614

Property Details for 1345 Detroit Ave

Year built

1960

Property size (Sq ft)

1,305 SF

Zone code

10-CR

Property type

Retail properties

Property subtype

Retail space

APN

18-08548

APU

1808548

Description

This meticulously renovated 179,000 USD retail storefront, situated at 1345 S Detroit Avenue Unit 1345 in Toledo, Ohio, presents a fantastic opportunity for a variety of businesses. The property boasts a 0.35-acre lot and is ideally suited for a cafe, restaurant, boutique, convenience store, salon, catering business, or vape shop. Its current configuration includes a fully equipped kitchen and seating area, making it immediately operational for food-related ventures. The location is particularly advantageous due to its proximity to the University of Toledo Medical Center, ensuring a steady stream of potential customers. The property's recent renovation ensures a move-in ready condition, minimizing upfront investment and maximizing immediate return. The space is also an excellent investment opportunity for those seeking to develop a strip mall or acquire a property in a high-traffic, established commercial area. The property's versatility and prime location make it an attractive proposition for both established businesses seeking expansion and entrepreneurs looking to launch a new venture. The existing bakery setup demonstrates the space's suitability for various food-service operations, while its location near a major medical center guarantees a consistent customer base. This is a rare opportunity to acquire a turnkey retail space in a thriving Toledo neighborhood.

• CAP approach

  CAP return

  Valuation

  6%

  $328,398

  6.5%

  $303,137

  7%

  $281,484

• Comparable approach

  Method

  Valuation

  Relative Method

  $307,616

  Geo Method

  $307,616

• Alternative Use

  Use

  Valuation

  Residential

  $255,707

  Hospitality

  $234,227

  Educational

  $194,874

  Medical

  $201,576

  Retail

  $303,137

Location Insight

City

Toledo

County

Lucas

State

Ohio

Latitude

41.6142

Longitude

-83.6018

CBSA code

45780

CBSA name

TOLEDO, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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