5410-12 Monroe St Sylvania Township, Ohio 5412 Monroe St
5,036 SF 100% Leased Retail Building Toledo, OH 43623 $850,000 ($169/SF) 8.05% Cap Rate
INVESTMENT HIGHLIGHTS
- High Traffic Count St and Great Visibility and Access
- No Deferred Maintenance and Interior Suites All Up To Date and All ADA Restrooms
EXECUTIVE SUMMARY
Two Tenant Building
Toledo Monument has occupied the building since it was constructed . It is family owned and now next generation run, Tenant signed a 10 year lease extension in 2024.
Sylvania Family Pharmacy is locally owned and is an expansion location, The space was renovated in 2024 and the 6 year lease commenced October 1, 2024.
Located in Sylvania Township, so no city of Toledo or Sylvania taxes.
One of the highest traffic count commercial corners in Lucas County. Access from Monroe & Laskey Rd
Large monument signage and excellent facade signage too.
Both Leases have rent bumps
Toledo Monument”s rent bumps 15% on 9/1/129
Sylvania Family Pharmacy Rent bumps 3% 10/1/27.
Ave rental rate for the property is $14.28 sq ft, where area comps in the corridor are $20-25 sq ft. Listing sale price approx. 25% below replacement cost.
My financials provide for a 5% reserve which provides provides $3,518 a year and a net income of $68,400 and an 8%+ cap rate.
Current lender is very open to loan to a qualified buyer. Regional bank and knows the market well. Rate and term quote available.
FINANCIALS DETAILS ON THE PROPERTY AND LENDER RATES/TERMS AVAILABLE UPON REQUEST AND COMPLETING A CA
Toledo Monument has occupied the building since it was constructed . It is family owned and now next generation run, Tenant signed a 10 year lease extension in 2024.
Sylvania Family Pharmacy is locally owned and is an expansion location, The space was renovated in 2024 and the 6 year lease commenced October 1, 2024.
Located in Sylvania Township, so no city of Toledo or Sylvania taxes.
One of the highest traffic count commercial corners in Lucas County. Access from Monroe & Laskey Rd
Large monument signage and excellent facade signage too.
Both Leases have rent bumps
Toledo Monument”s rent bumps 15% on 9/1/129
Sylvania Family Pharmacy Rent bumps 3% 10/1/27.
Ave rental rate for the property is $14.28 sq ft, where area comps in the corridor are $20-25 sq ft. Listing sale price approx. 25% below replacement cost.
My financials provide for a 5% reserve which provides provides $3,518 a year and a net income of $68,400 and an 8%+ cap rate.
Current lender is very open to loan to a qualified buyer. Regional bank and knows the market well. Rate and term quote available.
FINANCIALS DETAILS ON THE PROPERTY AND LENDER RATES/TERMS AVAILABLE UPON REQUEST AND COMPLETING A CA
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
5,036 SF
Building Class
B
Year Built
2005
Price
$850,000
Price Per SF
$169
Cap Rate
8.05%
NOI
$68,400
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.24
Lot Size
0.48 AC
Zoning
C-3 Commercial - Commercial C-2
Parking
25 Spaces (1.2 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Bus Line
- Pylon Sign
- Signage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 78-50951 | Improvements Assessment | $100,170 |
| Land Assessment | $46,200 | Total Assessment | $146,370 |
