Former Gas Station
1525 W Alexis Rd Toledo, OH 43612
1525 W Alexis Rd, Toledo, OH, 43612
$295,000
For Sale
$295,000
Former Speedway gas station offering redevelopment potential with a petroleum deed restriction.
Property Size2,369 SF
Price / SF$124.53
Days on Market1150
Property Features for 1525 W Alexis Rd
General Information
- Standard status
- Active
- Size
- 2,369 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1970
Listing agency
Signature Associates - Toledo
(419) 343-3650
Listed by
Joe Francis
(419) 343-3650
Source
Cpix.resimplifi
Added: May 30, 2023 Updated: Jul 22 at 8:53AM Checked: Jul 22 at 8:53AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Signature Associates - Toledo
Investment Insights
Based on property information with market context.
This property is a former Speedway gas station, positioned as a redevelopment site. The site is subject to a petroleum deed restriction. No Further Action (NFA) is on file.
The location provides easy access and good visibility. The property is adjacent to GM Toledo Propulsion Systems (formerly GM Powertrain).
Given the existing petroleum deed restriction, the property should be reviewed for compatibility with intended redevelopment plans and requirements.
The location provides easy access and good visibility. The property is adjacent to GM Toledo Propulsion Systems (formerly GM Powertrain).
Given the existing petroleum deed restriction, the property should be reviewed for compatibility with intended redevelopment plans and requirements.
Key Highlights
- Former Speedway gas station built in 1970
- Petroleum deed restriction in place (buyer to review deed restriction terms)
- Adjacent to GM Toledo Propulsion Systems (formerly GM Powertrain)
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $25.6k | $10.80 |
| − Vacancy | −$1.5k | −$0.65 |
| EGI | $24.1k | $10.15 |
| − OpEx | −$6.0k | −$2.54 |
| NOI | $18.0k | $7.61 |
2,369 SF · lease $10.80/SF/yr · vacancy 6.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$257.7K
$225.5K – $300.6K
NOI $18,038 @ 7.0% cap · market cap 6.11%
Second Best
Retail
$220.6K
$193.1K – $257.4K
NOI $15,445 @ 7.0% cap · market cap 5.24%
Theoretical Best
Office A
$394.3K
$345.0K – $460.0K
NOI $27,598 @ 7.0% cap · market cap 9.36%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Taco Bell
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Gas station - Former Speedway gas station offering redevelopment potential with a petroleum deed restriction.
Where is this gas station located?
The property is located at 1525 W Alexis Rd Toledo, OH.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Former Speedway gas station built in 1970; Petroleum deed restriction in place (buyer to review deed restriction terms); Adjacent to GM Toledo Propulsion Systems (formerly GM Powertrain)
