Listed by SVN Ascension Commercial Realty
$695,000
901 Madison Ave
Details
APN 1549471
Property Type Business for Sale, Multifamily
Sub Type Convenience Store, Restaurant
Square Footage 24,656
Units 11
Cap Rate 7.00%
Tenancy Multi
Lease Type NNN
Price per SqFt $28
Class C
Year Built 1897
Year Renovated 2008
Buildings 1
Stories 3
Acreage 0.180
Zoning Downtown Commercial
Investment Type Value Add
Value-Add Investment Opportunity Downtown Toledo | 24,656 SqFt Building
Marketing description
24,656 SF building comprised of first floor retail/restaurant and second/third floor shell space available for sale in Downtown Toledo. Highly visible and situated on the corner of Michigan St and Madison Ave between the main branch of the Toledo Library and Hylant Insurance. Within walking distance to many businesses and entertainment including Huntington Center, 5/3rd Field and the Glass City Center. Downtown commercial zoning creates an excellent opportunity as a value-add investment. Located within the Toledo Opportunity Zone, offering potential federal tax advantages for investors.
Investment highlights
- First floor: currently leased, 4,570 SF grab & go marketplace, restaurant, and seating area - also available for sale
- First floor: available for lease, 1,569 SF vacant retail space with private entrance along Michigan St.
- Second & third floor: shell space with roughed in plumbing and electrical, has excellent potential for redevelopment into residential -- architectural test fit floor plans for apartments on file
- Basement: 6,139 storage space
- 3 dedicated spaces in rear of building and ample street parking available
Listing Contacts
Listed by SVN Ascension Commercial Realty
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