2915 Glendale AveToledo, OH 43614

  • Turn key restaurants
  • 5,678 SF
For Sale
$495,000 View listing

Property Details for 2915 Glendale Ave

Year built
2003
Lot size
1.66 AC
Property size (Sq ft)
5,678 SF
Zone code
10-CRSO
Property type
Turn key restaurants
APN
18-87459
APU
1887459

Description

This exceptional 1.6-acre commercial land parcel presents a unique development opportunity in Toledo, Ohio. Located at 2915 Glendale Avenue, this property boasts 331 feet of frontage on Glendale Avenue, providing excellent visibility and accessibility. The site is situated in a high-traffic area, specifically an outlot of a Walmart Supercenter within a signalized shopping center entrance, ensuring significant foot and vehicle traffic. The property is zoned CR/Regional Commercial, allowing for a wide range of development possibilities. Demolition of an existing building is required, offering a clean slate for new construction. Market analysis indicates a strong demographic profile in the surrounding area, with 76,289 people residing within a 3-mile radius and a median household income of $53,878. This combination of high visibility, convenient location, favorable zoning, and a robust local market makes this property an attractive investment for developers seeking a prime location in Toledo, Lucas County, Ohio (zip code 43614). The asking price for this exceptional opportunity is $495,000. This is a chance to capitalize on a high-demand area and create a thriving commercial venture.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $1,103,050
    6.5%
    $1,018,200
    7%
    $945,470
  • Comparable approach

    Method
    Valuation
    Relative Method
    $552,365
    Geo Method
    $552,365
  • Alternative Use

    Use
    Valuation
    Industrial / Distribution
    $1,975,470
    Mixed-Use / Specialty
    $1,018,660
    Hospitality / Lodging
    $752,682
    Office
    $1,016,870
    Institutional / Educational
    $1,060,460
    Residential Income
    $1,240,730
    Multifamily
    $1,465,400
    Automotive / Energy
    $908,963
    Parking / Income-Based Land
    $309,631
    Restaurant / Food Service
    $538,541
    Healthcare / Senior Housing
    $1,040,420

Location Insight

City
Toledo
County
Lucas
State
Ohio
Latitude
41.6118
Longitude
-83.6133
CBSA code
45780
CBSA name
TOLEDO, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$17,115
$56,980
$117,600
$174,580
-
$162,800
$336,000
$498,800

FAQs

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