Ashley HomeStore Net-Leased Retail
130 Elliott Rd, Defiance, OH 43512
For Sale
Contact for pricing
The absolute NNN lease extends through 2034 and includes four five-year renewal options.
Property Size22,381 SF
Lot Size1.74 Acres
Price / SF$95.23
Days on Market29
Property Features for 130 Elliott Rd
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Traffic Count
Highway Access
Additional Details
Tenant in Place
Building Details
Year Built
Tenancy
Listing Agency:
Cushman & Wakefield - Phoenix, Arizona
Listed By:
Chris Hollenbeck · License OH SA584876000
(602) 538-7155
Source:
Crexi
Added: Oct 14
Changed: Nov 8
Last Checked: Nov 10 at 8:51AM
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 Cushman & Wakefield - Phoenix, Arizona
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Investment Insights
Based on property information with market context.
Built in 2015, this 22,381-square-foot furniture showroom occupies a 1.74-acre site in Defiance, Ohio. Ashley HomeStore has operated at the property since March 31, 2022, under an absolute NNN lease guaranteed by Dufresne Spencer Group Holdings, LLC. The current term ends March 31, 2034, with four five-year renewal options. Annual rent adjustments begin April 1, 2027, and are calculated as the lesser of 1.375% or 1.25 times CPI.
The property is located at 130 Elliott Road, with access to US-24, which carries approximately 25,000 vehicles per day and connects the area with Toledo and Fort Wayne. Nearby retailers include Menards, Marshalls, Ollie's Bargain Outlet, Pet Supplies Plus, and Bath & Body Works.
The property is located at 130 Elliott Road, with access to US-24, which carries approximately 25,000 vehicles per day and connects the area with Toledo and Fort Wayne. Nearby retailers include Menards, Marshalls, Ollie's Bargain Outlet, Pet Supplies Plus, and Bath & Body Works.
Key Highlights
- ±22,381‑square‑foot showroom on ±1.74 acres
- Absolute NNN lease guaranteed by Dufresne Spencer Group Holdings, LLC
- Lease term ends March 31, 2034, with four five‑year renewal options
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$88,822
Cap Rate
4.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,776,440
$1.8M
Cap Rate 7%
$1,268,886
$1.3M
Cap Rate 9%
$986,911
$986.9K
Market Conditions
NOI Build-Up for 22,381 SF
Gross rent
$131.6K $5.88/SF
− Vacancy
−$4.7K −$0.21/SF
EGI
$126.9K $5.67/SF
− OpEx
−$38.1K −$1.70/SF
NOI
$88.8K $3.97/SF
Area
Defiance County, OH
Vacancy
3.58%
Lease Rate
$5.88 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,776,440
Cap Rate 7%
$1,268,886
Cap Rate 9%
$986,911
Alternative Uses
Best Use
Retail
$1.27M
$1.11M – $1.48M
NOI $88,822 @ 7.0% cap · market cap 4.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.09M
$4.46M – $5.94M
NOI $356,621 @ 7.0% cap · market cap 16.73%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Current Use
Lease Details
25,000 VPD
Traffic count
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
153
Businesses Nearby
Explore this area
Business Placement
Demographics for 43512, OH
28,208
Population
12,665
Households
2.2
Avg Household Size
42
Median Age
21%
College-Educated
93%
High-School Grad
217.7 sq mi
ZIP Area
130
Density / Sq Mi
$72,082
Median Household Income
$42,014
Median Earnings
$851
Median Rent
$149,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
NNN property - The absolute NNN lease extends through 2034 and includes four five-year renewal options.
Where is this nnn property located?
The property is located at 130 Elliott Rd Defiance, OH.
What is the asking price?
The asking price for this property is $2,131,366.
What are key features of this property?
This property features: ±22,381‑square‑foot showroom on ±1.74 acres; Absolute NNN lease guaranteed by Dufresne Spencer Group Holdings, LLC; Lease term ends March 31, 2034, with four five‑year renewal options
