524 Main StToledo, OH 43605

Property Details for 524 Main St

Year built

1956

Lot size

0.11 AC

Property size (Sq ft)

2,371 SF

Zone code

10-CS

Property type

Retail properties

Property subtype

Drive through restaurants

APN

17-03027

APU

1703027

Description

This exceptional commercial property, located at 524 Main Street, Unit 524, in the heart of downtown Toledo, Ohio, presents a unique investment opportunity. Currently configured as a pizza restaurant, this turnkey operation is being offered via online auction with a minimum bid of $139,000. The auction concludes Friday, February 14th at 1 PM. The property boasts a prime Main Street location within a high-traffic area, benefiting from a well-established local customer base. All existing equipment is included in the sale, providing a seamless transition for a new owner. This includes pizza ovens, walk-in coolers, and various fixtures. The building itself features a spacious dining area and a convenient carryout section. The property sits on a 0.11-acre lot and includes a large parking lot, a significant advantage in a busy downtown setting. Its zoning allows for a variety of commercial uses, opening doors to numerous possibilities beyond its current configuration. The property's proximity to the New Glass City Park, The Docks, and other waterfront businesses further enhances its appeal and potential for success. A buyer's premium of 10% applies. An open house is scheduled for February 8th from noon to 2 PM, offering a chance to view this promising property firsthand.

• CAP approach

  CAP return

  Valuation

  6%

  $596,653

  6.5%

  $550,757

  7%

  $511,417

• Comparable approach

  Method

  Valuation

  Relative Method

  $558,894

  Geo Method

  $558,894

• Alternative Use

  Use

  Valuation

  Residential

  $464,584

  Hospitality

  $425,556

  Educational

  $354,058

  Medical

  $366,235

  Retail

  $550,757

Location Insight

City

Toledo

County

Lucas

State

Ohio

Latitude

41.6447

Longitude

-83.5198

CBSA code

45780

CBSA name

TOLEDO, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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