923 Starr AveToledo, OH 43605

Property Details for 923 Starr Ave

Year built

1940

Lot size

0.08 AC

Property size (Sq ft)

11,307 SF

Zone code

10-CS

Property type

Retail space

APN

06-03351

APU

603351

Description

This exceptional 7,538 square foot storefront property at 923 Starr Avenue in Toledo, Ohio, presents a compelling investment opportunity. Located at the hard corner of Starr Avenue and E. Broadway Street, this two-story multi-tenant building benefits from high visibility and convenient access. The property boasts approximately 11 on-site parking spaces, a significant advantage in this location. The first floor, encompassing 1,600 square feet, has recently undergone renovations and is currently leased to a CBD dispensary on a five-year lease renewed in December 2022, offering immediate income potential. This space is available as a turnkey operation for a similar user. The substantial second floor, measuring 3,750 square feet, is currently configured as event space but offers significant potential for conversion into office space or residential units. The building is situated within one mile of I-280, ensuring excellent accessibility and high traffic flow. The asking price for this value-add asset is $299,000, translating to a price per square foot of $39.67. This property is ideally positioned for investors seeking a strong return on investment in a thriving Toledo location, adjacent to established businesses like Davita Kidney Care and Dollar General. The property's versatility and prime location make it an attractive proposition for a variety of uses.

• CAP approach

  CAP return

  Valuation

  6%

  $2,845,364

  6.5%

  $2,626,490

  7%

  $2,438,884

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,665,295

  Geo Method

  $2,665,295

• Alternative Use

  Use

  Valuation

  Residential

  $2,215,543

  Hospitality

  $2,029,425

  Educational

  $1,688,458

  Medical

  $1,746,527

  Retail

  $2,626,490

Location Insight

City

Toledo

County

Lucas

State

Ohio

Latitude

41.6437

Longitude

-83.5161

CBSA code

45780

CBSA name

TOLEDO, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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