Goodwill - Toledo, OH
NN Lease Structure | Retail | 7.75% CAP | 21,712 SqFt
Marketing description
Positioned along the highly trafficked S Reynolds Road corridor, 2021 S Reynolds Road in Toledo, Ohio presents a compelling retail investment opportunity offering strong visibility, excellent accessibility, and consistent consumer traffic. Surrounded by a dense mix of national retailers, service providers, and established residential neighborhoods, the property benefits from a strategic location that supports long-term tenant stability and performance. With its placement in one of Toledo’s active commercial corridors and convenient access to major thoroughfares, this asset delivers an attractive combination of dependable income potential, solid market fundamentals, and future upside, making it an ideal addition for investors seeking both stability and growth.
Investment highlights
Attractive Yield: Offered at a 7.75% cap rate with ~$151K NOI, providing strong in-place cash flow
Corporate-Backed Tenant: Lease guaranteed by Goodwill, a nationally recognized operator with over 4,000 locations and $7B+ in revenue
Recession-Resilient Use: Essential, needs-based retail with consistent traffic driven by donation and resale model
Minimal Landlord Responsibilities: NN lease structure with tenant covering majority of expenses, reducing ownership burden
Strong Real Estate Fundamentals: 21,712 SF building on 1.92 acres with ample parking and functional layout
High Visibility Location: Positioned on a heavily trafficked corridor with excellent frontage and accessibility
Value-Add Potential: Below replacement cost (~$90/SF) with future repositioning or redevelopment upside
Dense Retail Corridor: Surrounded by national retailers and strong consumer traffic drivers. (see aerials on pages 5–6)
Accessible Midwest Market: Located in Toledo with a population of ~170K within 5 miles and solid household incomes
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