306 Summit StToledo, OH 43604

Property Details for 306 Summit St

Year built

1950

Lot size

0.20 AC

Property size (Sq ft)

14,916 SF

Zone code

10-IL

Property type

Office properties

Property subtype

Office buildings

APN

04-03614

APU

403614

Description

This exceptional industrial property, located at 306 S. Summit St in Toledo, Ohio, presents a compelling investment opportunity. The 8,696 square foot warehouse, built in 1950 and renovated in 2004, sits on a 0.21-acre lot and boasts a desirable IL Limited Industrial zoning. The building features two stories, with ceiling heights ranging from 10 to 12 feet, providing ample storage and operational space. Currently occupied by a month-to-month tenant paying $3,600 per month plus utilities, possession will be granted upon closing, subject to the tenant's rights. The basement serves as a storage area, while the second floor offers potential for conversion into office or residential loft space. The property includes eight parking spaces and benefits from a new EPDM rubber roofing system with tapered insulation and flashing installed in 2019. A land survey is available. This centrally located warehouse, in Toledo's Middle Grounds District, offers a unique blend of existing income and future development potential, making it an attractive asset for discerning investors. The property's APN is 03614: 07171002. The asking price is $425,000, translating to $48.87 per square foot.

• CAP approach

  CAP return

  Valuation

  6%

  $2,553,439

  6.5%

  $2,357,021

  7%

  $2,188,662

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,395,243

  Geo Method

  $1,395,243

• Alternative Use

  Use

  Valuation

  Residential

  $2,922,706

  Hospitality

  $2,677,183

  Educational

  $2,227,385

  Medical

  $2,303,988

  Retail

  $3,464,821

Location Insight

City

Toledo

County

Lucas

State

Ohio

Latitude

41.6415

Longitude

-83.5421

CBSA code

45780

CBSA name

TOLEDO, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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