28 Erie StToledo, OH 43604

Property Details for 28 Erie St

Year built

1887

Lot size

0.17 AC

Property size (Sq ft)

22,800 SF

Zone code

10-CD

Property type

Retail properties

Property subtype

Retail space

APN

12-15777

APU

1215777

Description

This exceptional 22,800 square foot, four-story building, located at 28 N Erie St in Toledo, Ohio, presents a unique investment opportunity. Built in 1872 and completely renovated in 2019/2020, the property boasts a prime location on Erie Street, the main gateway into Downtown Toledo, ensuring high visibility and easy access. Its permitted Downtown Commercial zoning allows for continued operation as a successful bar and restaurant. The sale includes the real estate, liquor license, and all furniture, fixtures, and equipment (FF&E). Situated just one block from the 10,000+ seat 5/3 Field (Mud Hens Baseball), and two blocks from the 8,000+ seat Huntington Center (Walleye Hockey, concerts, and other events), this property benefits from the high foot traffic generated by these popular venues and their numerous annual events. The 10,890 square foot lot provides ample space, and the building's extensive 2019/2020 renovation encompassed a complete buildout and all mechanical, electrical, and plumbing (MEP) systems. This is a rare chance to acquire a thriving business in a vibrant, high-growth area of Toledo's Warehouse District, surrounded by other popular bars, restaurants, and entertainment options. The asking price is $2,500,000.

• CAP approach

  CAP return

  Valuation

  6%

  $5,737,535

  6.5%

  $5,296,186

  7%

  $4,917,887

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,374,434

  Geo Method

  $5,374,434

• Alternative Use

  Use

  Valuation

  Residential

  $4,467,531

  Hospitality

  $4,092,234

  Educational

  $3,404,691

  Medical

  $3,521,784

  Retail

  $5,296,186

Location Insight

City

Toledo

County

Lucas

State

Ohio

Latitude

41.6495

Longitude

-83.5403

CBSA code

45780

CBSA name

TOLEDO, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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