5333 Secor RdToledo, OH 43623

Property Details for 5333 Secor Rd

Year built

1971

Lot size

1.43 AC

Property size (Sq ft)

28,500 SF

Zone code

10-IL

Property type

Office properties

Property subtype

Office buildings

APN

23-36194

APU

2336194

Description

This exceptional 28,500 square foot industrial flex space property, located at 5333 Secor Road in Toledo, Ohio, presents a compelling investment opportunity. The single-story building, constructed in 1972, features 20 individual suites, with 1,500 square feet currently vacant, offering immediate potential for rental income. The property sits on a 1.42-acre lot and boasts ample parking with 100 spaces available. Ceiling heights range from 8 to 9 feet, providing versatile space for a variety of uses. The property is zoned IL - Limited Industrial, allowing for a range of industrial and light commercial activities. The convenient West Toledo location, near McGregor, provides easy access to major transportation routes. The property's multiple tenancy structure offers flexibility and diversification of income streams. The APN is 23-36194 and the zip code is 43623. This is an excellent opportunity to acquire a well-located, established industrial property with significant upside potential. The existing infrastructure and ample parking make this a highly desirable location for businesses seeking flexible and functional space. The current vacancy provides an immediate opportunity to increase revenue and occupancy. This property is offered as a triple net lease (NNN).

• CAP approach

  CAP return

  Valuation

  6%

  $4,878,856

  6.5%

  $4,503,560

  7%

  $4,181,877

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,665,890

  Geo Method

  $2,665,890

• Alternative Use

  Use

  Valuation

  Residential

  $5,584,414

  Hospitality

  $5,115,293

  Educational

  $4,255,864

  Medical

  $4,402,230

  Retail

  $6,620,232

Location Insight

City

Toledo

County

Lucas

State

Ohio

Latitude

41.7128

Longitude

-83.6252

CBSA code

45780

CBSA name

TOLEDO, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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