Listed by SVN Ascension Commercial Realty
$695,000
5472 Monroe St
Details
APN 7850861
Property Type Retail
Sub Type Street Retail
Square Footage 2,890
Cap Rate 6.04%
NOI $42,000
Occupancy 100%
Tenancy Single
Lease Type NNN
Lease Expiration 10/31/2027
Remaining Term 1.3
Lease Options 1
Price per SqFt $240
Class B
Year Built 1958
Year Renovated 2022
Buildings 1
Acreage 0.346
Zoning C-2
Parking Spaces 26 spaces
Parking per 1,000 SqFt 9.00
Investment Type Net Lease
Ground Lease No
Sale Condition N/A
Single-Tenant Retail Investment | 6.04% CAP | 2,890 SqFt
Marketing description
Single-tenant NNN retail investment along Monroe Street in Sylvania Township, one of Toledo's strongest suburban retail corridors (20,714 VPD [25], situated between the US-23 interchange and Franklin Park Mall). The 2,890 SF freestanding building sits on 0.3458 acres, built in 1958 and fully renovated in 2022. 100% leased to Auto Glass Now, a Driven Brands (NASDAQ: DRVN) subsidiary, on a modified NNN lease at $3,500/month through October 2027, with one (1) five-year renewal option; tenant covers all taxes, utilities, insurance, and maintenance.
Investment highlights
- Fully occupied 2,890 SF freestanding retail building on 0.3458 acres
- Situated on Monroe Street, (20,714 VPD [25]) between the US-23 interchange and Franklin Park Mall
- ADA-accessible building with three total restrooms
- Shop area, and reception/waiting room remodeled in 2022
- Delivery area located by shop overhead doors
- Security system: Cameras and alarm system
- Zoned 20-C2 (Sylvania Township), permitting broad commercial uses
Listing Contacts
Listed by SVN Ascension Commercial Realty
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$42,000.00
$3,500.00/mo
Valuation Metrics
0
DSCR
6.04%
Cap Rate
6.04%
ROI
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