503-559 S Reynolds Rd - Freestanding FOR SALE


Toledo, OH 43615- Reynolds Corners
$3,490,000 USD
440-915-7902
503-559 S Reynolds Rd, Toledo, OH for Sale
$3,490,000 USD
Freestanding - FOR SALE
1/15
null | 8% Cap Rate

503-559 S Reynolds Rd
Toledo, OH 43615
Reynolds Corners


HIGHLIGHTS

  • Service-Oriented Center with 88% Occupancy: Long-Term, Tenured Anchor Tenants with Recent Renewals and Upside Available
  • Anchored by Safelite (Moody’s “Ba3”/S&P “BB-”) who just Renewed for 5 Years and GSA Lease for Recruitment Offices on Rare NNN Lease
  • Attractive 8.00% CAP with Low $97/S.F. Asking Price
  • Strong Market with Average Household Incomes of Over $93,500 Within 5-Miles and Direct Access to Extremely Large Population Base
  • 3.5 Miles to The University of Toledo: 17,000+ Students and 2,200+ Academic Staff/4,000+ Other Employees (Third Largest Employer in the Region)
  • Future NOI Growth: Many Tenants Have Annual Rental Bumps and the Converting of Gross to NNN Leases

OVERVIEW

• Convenient Access Along Reynolds Road (Main Drag to Western Part of Toledo) with Signalized Intersection, Highly Visible Signage, Great Frontage and Highway Access: Adjacent to I-475 (85,000+ VPD) and 3-Miles to I-80/90 • Surrounded by Major Employers: Whirlpool Corporation (6,180 Employees), FCA US (6,160 Employees), General Motors Powertrain(1,970 Employees), Dana Corp. (1,570 Employees), Fifth-Third Bank's Northwest Ohio Headquarters (550 Employees), Owens Corning(1,235 Employees), Owens Illinois (840 Employees), Libbey Glass (1,300 Employees) and Pilkington North America (940 Employees) • Desirable Suburban Community with Short Commute (8 Miles) to Downtown Toledo with Immediate Proximity to Several Colleges/Universities and Numerous Other High-Profile Companies

FOR SALE DETAILS

PRICE

$3,490,000 USD

PRICE/SF

$97 USD /SF

CAP RATE

8%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Recession-Proof Neighborhood Ctr | $97/SF

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Auto Repair, Convenience Store, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1984

SPRINKLERS

-

PARKING SPACES

190

LAND DETAILS

CROSS STREETS

South ave

LAND ACRES

3.12 AC

LAND SF

135,907 SF

ZONING

CR

APN/PARCEL ID

08-51499

ASK ABOUT THIS PROPERTY

Dan CooperCooper Commercial Investment GroupMore Info
440-915-7902

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Dan CooperCooper Commercial Investment GroupMore Info
440-915-7902

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.