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29723801
29723822

5033 Monroe St, Toledo, OH 43623

SVN Ascension Commercial Realty
Listed by SVN Ascension Commercial Realty
$2,750,000
111 days on market
Updated 54 days ago

Petco Building

Details
APN 23-27153
Property Type Retail
Sub Type Storefront
Square Footage 22,009
Cap Rate 8%
NOI $220,090
Occupancy 100%
Tenancy Single
Brand/Tenant Petco
Lease Type NNN
Lease Expiration 04/30/2027
Remaining Term 0.9
Lease Options None
Price per SqFt $125
Class B
Year Built 1987
Buildings 1
Stories 2
Acreage 2.610
Zoning 10-MX, Mixed Zoning Parcel: CR, Regional Commercial & IL, Limited Industrial
Parking Spaces 115 spaces
Parking Per SqFt 5.23
Investment Type Stabilized
Tenant Credit Franchisee

NNN Petco lease, corporate guaranteed, investment sale

Marketing description

22,009 SF fully leased retail building for sale, adjacent to the Franklin Park Mall, which is anchored by Dillard's JCPenney, and Dick's Sporting Goods, drawing more than 7 million visitors annually. Ideally located along the highly trafficked Monroe Street retail corridor, with two curb cuts along Talmadge Rd and access via recorded easement to a curb cut on Monroe St. Situated less than one-half mile north of the I-475 interchange, providing convenient access to regional traffic. The mixed zoning parcel including Regional Commercial and Limited Industrial permits numerous uses.

Investment highlights

  • Currently leased to Petco, a national credit tenant, through April 30, 2027, prospective buyer can negotiate a renewal with Petco

  • Tenant net expense available upon request

  • Excellent visibility with pylon and fascia signage, and combined 250ft of frontage along Talmadge Rd and Monroe St

  • Rear loading dock providing efficient deliveries and operational functionality

  • Building features a mezzanine, currently used for storage

  • Ample parking with 115 paved parking spots

  • VPD's: Talmadge- 16,517 (25), Monroe St- 27,438 (25), W Sylvania Ave- 18,910 (25), I-475- 78,027 (25)

Listing Contacts

SVN Ascension Commercial Realty
Listed by SVN Ascension Commercial Realty

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$220,090.00
$18,340.83/mo

Valuation Metrics

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DSCR
8%
Cap Rate
8%
ROI

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