2928 Tremainsville RdToledo, OH 43613

Property Details for 2928 Tremainsville Rd

Year built

1953

Lot size

0.26 AC

Property size (Sq ft)

4,540 SF

Zone code

10-CR

Property type

Auto shops

APN

23-58607

APU

2358607

Description

This exceptional investment opportunity presents a 4,540 square foot commercial building ideally situated on a corner lot in Toledo, Ohio. Currently operating as a 100% occupied auto repair shop, the property boasts excellent visibility with 290 feet of corner frontage and pylon signage. The building features five 10' x 10' grade-level doors, providing convenient access for vehicles. Ample parking is available with 12 designated spaces and additional open paved area. Inside, the space is currently configured as a shop, office space, and two restrooms. The unfinished second floor offers significant potential for expansion or additional rental income. The property sits on a 0.44-acre lot and benefits from four curb cuts, ensuring easy ingress and egress. Located just one-third of a mile south of W. Alexis Rd., this property enjoys close proximity to major national and local retailers. The Regional Commercial zoning allows for a wide range of potential uses. The current tenant is under a month-to-month lease, generating $3,250 in monthly rent plus utilities. The asking price is $299,000, representing a 10% cap rate. This stabilized investment is ideal for both investors and owner-operators. The sale includes the real estate and fixtures only. The property's APN is 2358611 & 2358607. Built in 1953, the two-story building is a solid investment in a prime location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,142,474

  6.5%

  $1,054,592

  7%

  $979,264

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,070,172

  Geo Method

  $1,070,172

• Alternative Use

  Use

  Valuation

  Residential

  $889,587

  Hospitality

  $814,857

  Educational

  $677,952

  Medical

  $701,267

  Retail

  $1,054,592

Location Insight

City

Toledo

County

Lucas

State

Ohio

Latitude

41.7158

Longitude

-83.6147

CBSA code

45780

CBSA name

TOLEDO, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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