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28744170
28744171

2450 S. Reynolds Road, Toledo, OH 43614

FR
MI 6502417063
SRS Real Estate Partners Newport Beach
MC
MI 6501369793
SRS Real Estate Partners Newport Beach
SS
KY 271256
SRS Louisville
SR
CA 02046646
SRS National Net Lease Group
Listed by SRS Real Estate Partners Newport Beach, SRS Louisville, SRS National Net Lease Group
$3,096,000
188 days on market
Updated 47 days ago

Goodwill

Details
APN 20-01330
Property Type Retail
Sub Type Storefront
Square Footage 14,564
Cap Rate 6.35%
NOI $196,614
Occupancy 100%
Tenancy Single
Brand/Tenant Goodwill
Lease Type NNN
Lease Term 12.2
Lease Expiration 12/31/2037
Remaining Term 11.6
Rent Bumps No
Lease Options 2 (5-Year)
Price per SqFt $213
Year Built 2005
Year Renovated 2025
Acreage 2.600
Zoning Regional Commercial (CR)
Tenant Credit Corporate Guarantee
Lease Commencement 10/30/2025
Ownership Fee Simple (Land & Building)

Retail | 6.35% CAP | 14,564 SqFt

Marketing description

SRS National Net Lease Group, LP is pleased to present the opportunity to acquire the fee simple interest in a NNN-leased Goodwill retail property located in Toledo, Ohio. The tenant, Goodwill Industries of Northwest Ohio, Inc., recently executed a brand new 12-year lease with two (2) additional five-year renewal options, demonstrating long-term commitment to the site. The lease features a scheduled $1 PSF rent increase during the primary term and CPI-based increases at the start of each option period, supporting long-term NOI growth and providing an inflation hedge. This is a relocation store for Goodwill with a proven track record of strong performance in the market. As further evidence of their commitment, the tenant recently completed approximately $250,000 in site improvements, including repaving and restriping the parking lot. The lease is structured as NNN with minimal landlord responsibilities and signed by a corporate entity, an ideal, low-touch investment opportunity for passive or out-of-state investors.

The property is prominently positioned at the signalized, hard corner intersection of S Reynolds Rd (23,800 VPD) and Heatherdowns Blvd (15,500 VPD), with immediate access to I-80/I-90 (31,200 VPD) and minutes from I-475 (80,800 VPD), two major regional arterials. The surrounding area is a dense retail corridor anchored by national brands and regional centers, including Suffolk Square, Springfield Commons, and Spring Meadows Place. Spring Meadows Place is a top-performing Target-anchored center that draws 6.9 million annual visits and ranks in the 78th percentile statewide among comparable centers. Other nearby anchors like Walmart Supercenter, Meijer, and Kroger further reinforce the area’s daily draw. The 5-mile trade area includes over 152,900 residents and 80,600 employees, with an AHHI of $99,012. The property is just 15 minutes from Downtown Toledo and part the Toledo MSA, the 4th-largest in Ohio with a population exceeding 650,000.

Investment highlights

  • Brand New 12-Year Lease | Options To Extend | Rental Increases | Relocation Store | $250K In Recent Improvements | Corporate Signature

  • NNN Lease Structure | Fee Simple Ownership | Minimal Landlord Responsibilities

  • Signalized, Hard Corner Intersection | Regional Connectivity

  • Dense Retail Corridor | Strong Tenant Synergy

  • Strong Demographics In 5-Mile Trade Area

Listing Contacts

FR
MI 6502417063
SRS Real Estate Partners Newport Beach
MC
MI 6501369793
SRS Real Estate Partners Newport Beach
SS
KY 271256
SRS Louisville
SR
CA 02046646
SRS National Net Lease Group
Listed by SRS Real Estate Partners Newport Beach, SRS Louisville, SRS National Net Lease Group

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$196,614.00
$16,384.50/mo

Valuation Metrics

0
DSCR
6.35%
Cap Rate
6.35%
ROI

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Additional Information

Name
Sarah Shanks
License
BRKP.2023006361 | REC.2024000384
Brokerage
SRS National Net Lease Group
Title
Broker of Record
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