347 Reynolds RdToledo, OH 43615

Property Details for 347 Reynolds Rd

Year built

1978

Lot size

0.73 AC

Property size (Sq ft)

9,004 SF

Zone code

10-CR

Property type

Retail properties

Property subtype

Auto shops

APN

20-14734

APU

2014734

Description

This exceptional commercial investment opportunity presents a 9,050 square foot retail building situated at 347-357 South Reynolds Road in Toledo, Ohio (zip code 43615). Currently housing an auto shop and daycare/nursery, the property boasts 100% occupancy and offers significant upside potential due to below-market rents. The building enjoys excellent visibility with 266 feet of frontage on South Reynolds Road, a major retail corridor experiencing high traffic counts of 16,275 vehicles per day. The strong demographics are further supported by a population of 188,539 within a 5-mile radius. This compelling offering is enhanced by the inclusion of three adjacent vacant residential-zoned land parcels totaling 0.37 acres (120' x 133') on Aubin Drive, presenting additional development possibilities. The asking price for this entire package is $550,000, translating to $60.77 per square foot. This property represents a rare chance to acquire a well-located, multi-tenant retail building with significant growth potential and added land value in a thriving Toledo market.

• CAP approach

  CAP return

  Valuation

  6%

  $2,265,823

  6.5%

  $2,091,529

  7%

  $1,942,134

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,122,430

  Geo Method

  $2,122,430

• Alternative Use

  Use

  Valuation

  Residential

  $1,764,283

  Hospitality

  $1,616,074

  Educational

  $1,344,554

  Medical

  $1,390,796

  Retail

  $2,091,529

Location Insight

City

Toledo

County

Lucas

State

Ohio

Latitude

41.6335

Longitude

-83.6641

CBSA code

45780

CBSA name

TOLEDO, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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