Multipurpose Commercial
For Sale
$995,000
4256 Secor Rd, Toledo, OH 43623
11,184 SF building available for sale or lease on Secor Rd with regional commercial zoning.
Property Size11,184 SF
Price / SF$88.97
Days on Market41
Property Features for 4256 Secor Rd
General Information
Standard status
Active
Size
11,184 SF
Property subtype
Retail - Freestanding
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
11,184 SF
Year Built
1953
Units
1
Listing Agency:
SVN | Ascension Commercial Realty
Listed By:
Rami Sebai · License ##SAL.2021006201
(419) 540-8888
Source:
Commercialcafe
Added: Jul 26
Changed: Sep 4
Last Checked: Sep 4 at 2:40AM
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 SVN | Ascension Commercial Realty
Investment Insights
Based on property information with market context.
This 11,184 SF building is available for sale or lease and is located on Secor Rd in Toledo. The property has been used in the past as a dog spa, and the remarks also reference a former Knights of Columbus use, supporting flexible reuse possibilities for appropriate tenants. Zoning is described as Regional Commercial and Single Family Residence.
The site is positioned on Secor Rd between W Sylvania Ave and Laskey Rd, across from Toledo Clinic, with St. Anne's Hospital directly across the street as well. It is just over 1/2 mile north of the I-475 entrance, and is minutes from Franklin Park Mall and Westgate Shopping.
The building’s current fit and best uses should be confirmed based on the zoning and tenant requirements, but the layout has accommodated both service-oriented and community-oriented operations in prior use.
The site is positioned on Secor Rd between W Sylvania Ave and Laskey Rd, across from Toledo Clinic, with St. Anne's Hospital directly across the street as well. It is just over 1/2 mile north of the I-475 entrance, and is minutes from Franklin Park Mall and Westgate Shopping.
The building’s current fit and best uses should be confirmed based on the zoning and tenant requirements, but the layout has accommodated both service-oriented and community-oriented operations in prior use.
Key Highlights
- 11,184 SF building built in 1953 available for sale or lease on Secor Rd
- Regional Commercial zoning, with Single Family Residence zoning noted for the property
- Former dog spa—previous business use for potential repurposing
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$72,917
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.33%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,458,340
$1.5M
Cap Rate 7%
$1,041,671
$1.0M
Cap Rate 9%
$810,189
$810.2K
Market Conditions
NOI Build-Up for 11,184 SF
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.
Gross rent
$112.7K $10.08/SF
− Vacancy
−$8.6K −$0.77/SF
EGI
$104.2K $9.31/SF
− OpEx
−$31.3K −$2.79/SF
NOI
$72.9K $6.52/SF
Area
Toledo, OH
Vacancy
7.60%
Lease Rate
$10.08 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,458,340
Cap Rate 7%
$1,041,671
Cap Rate 9%
$810,189
Alternative Uses
Best Use
Retail
$1.04M
$911.5K – $1.22M
NOI $72,917 @ 7.0% cap · market cap 7.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.86M
$1.63M – $2.17M
NOI $130,289 @ 7.0% cap · market cap 13.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,084
Businesses Nearby
129k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 65%
Dining 32%
Apparel 1%
Home Improvements & Furnishings 1%
Dollar Tree
Shops & Services
25,914 visits/mo
0.3 miles
Kroger Fuel Center
Shops & Services
19,231 visits/mo
0.4 miles
Shell
Shops & Services
13,466 visits/mo
0.5 miles
Applebee's
Dining
12,591 visits/mo
0.3 miles
Tim Hortons
Dining
11,556 visits/mo
0.4 miles
Demographics for 43623, OH
20,320
Population
10,056
Households
2
Avg Household Size
43
Median Age
31%
College-Educated
93%
High-School Grad
6.7 sq mi
ZIP Area
3,033
Density / Sq Mi
$65,908
Median Household Income
$40,496
Median Earnings
$933
Median Rent
$167,500
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - 11,184 SF building available for sale or lease on Secor Rd with regional commercial zoning.
Where is this retail space located?
The property is located at 4256 Secor Rd Toledo, OH.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 11,184 SF building built in 1953 available for sale or lease on Secor Rd; Regional Commercial zoning, with Single Family Residence zoning noted for the property; Former dog spa—previous business use for potential repurposing
