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503-529 S Reynolds Rd Toledo, OH 43615

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For Sale
$3,490,000

Service-oriented retail center with long-term tenants and upside potential.

Property size:
35,850 SF
Lot size:
1.57 Acres

Property Features for 503-529 S Reynolds Rd

General Information

Size
35,850 SF
Lot size
1.57 Acres

Source: Cooper Commercial Investment Group Agent Bob Havasi

Displayed information is deemed reliable but is not guaranteed and should be independently verified.


Overview

Toledo Retail Center For Sale

This service-oriented retail center features 88% occupancy with long-term, tenured anchor tenants who have recently renewed their leases, offering potential upside with an 8.93% vacancy. Anchored by Safelite (Moody’s “Ba3”/S&P “BB-”) who just renewed for 5 years and a GSA lease for recruitment offices on a rare NNN lease. The property is offered at an attractive 8.00% CAP rate with a low $97/S.F. asking price. Located in a strong market, the area boasts average household incomes of over $93,500 within a 5-mile radius, providing direct access to a large population base of approximately 182,795+ people within 5 miles. The property is situated 3.5 miles from The University of Toledo, which has over 17,000 students, 2,200+ academic staff, and 4,000+ other employees, making it the third-largest employer in the region. Future NOI growth is anticipated through annual rental bumps for many tenants and the conversion of gross leases to NNN leases. The property benefits from convenient access along Reynolds Road, a main thoroughfare to the western part of Toledo, with a signalized intersection, highly visible signage, great frontage, and highway access. It is adjacent to I-475 (85,000+ VPD) and 3 miles from I-80/90. As the 4th largest city in the state, Toledo is positioned to serve commuters from surrounding suburbs and students from the University of Toledo. The service-oriented retailers ensure recession-resistant performance. The property contains 35,850 square feet.
Location Intelligence

Current Use by Public Records

Strip malls

Suggested Use

Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

Zoning and permitted uses should be independently verified with local authorities.

Similar Places Nearby

Jesse James Plaza, Coin Cloud Bitcoin ATM, Reynolds and Hill Plaza, Reynolds Shoppes, Meadowbrook Plaza Shopping Center

Location Insight

  • Map
  • Local Demand
City
Toledo
County
Wood
State
Ohio
Longitude
-83.6640307
Latitude
41.6309631

FAQs

What type of property is this?
Shopping center - Service-oriented retail center with long-term tenants and upside potential.
Where is this shopping center located?
The property is located at 503-529 S Reynolds Rd Toledo, OH.
What is the asking price?
The asking price for this property is $3,490,000.
What are key features of this property?
This property features: - Anchored by Safelite (Moody’s “Ba3”/S&P “BB-”) with recent 5-year renewal and GSA lease on NNN terms.; - Attractive 8.00% CAP rate with a low $97/S.F. asking price.; - High 88% occupancy rate with long-term, tenured anchor tenants.
More about this property
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