626 Reynolds RdToledo, OH 43615
- Retail properties
- 0.11 AC
Property Details for 626 Reynolds Rd
- Lot size
- 0.11 AC
- Zone code
- 10-CR
- Property type
- Retail properties
- Property subtype
- Other car washes
- APN
- 20-60164
- APU
- 2060164
Description
This exceptional retail property, located at 626 N. Reynolds Road in Toledo, Ohio, presents a unique investment opportunity. The 5,353 square foot building sits on a 0.119-acre lot and is zoned 10 CR. Built in 1972, the single-story structure currently operates as a manual car wash with five wash bays, having served the community since 1975. The asking price is $325,000, translating to $60.71 per square foot. Its prime location on busy N. Reynolds Road ensures high visibility and consistent traffic flow. The property's versatile zoning and existing infrastructure offer significant potential for conversion into various other commercial businesses, making it an attractive option for both established entrepreneurs and investors seeking a strong return. The property's APN is 2060164, -67, -71, -74. This is a rare chance to acquire a well-established business in a thriving Toledo location. The property's history and current operation provide a solid foundation for future success, regardless of the chosen business model. This presents a compelling opportunity for a savvy investor to capitalize on a proven location and adapt it to meet evolving market demands.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $1,159,334
- 6.5%
- $1,070,155
- 7%
- $993,715
-
Comparable approach
- Method
- Valuation
- Relative Method
- $1,085,966
- Geo Method
- $1,085,966
-
Alternative Use
- Use
- Valuation
- Residential
- $902,716
- Hospitality
- $826,883
- Educational
- $687,957
- Medical
- $711,617
- Retail
- $1,070,155
Location Insight
- City
- Toledo
- County
- Lucas
- State
- Ohio
- Latitude
- 41.6468
- Longitude
- -83.6642
- CBSA code
- 45780
- CBSA name
- TOLEDO, OH METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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