Auto Service Building with NNN
For Sale
Contact for pricing
1640 W Laskey Road, Toledo, OH 43612
An automotive service facility occupies a signalized corner parcel with frontage on two roads.
Property Size4,200 SF
Lot Size0.76 Acres
Price / SF$210.71
Days on Market10
Property Features for 1640 W Laskey Road
General Information
Standard status
Active
Size
4,200 SF
Lot size
0.76 Acres
Property subtype
Retail
Occupancy
100%
Net Operating Income
$57,525
Financials
Asking Price
$885,000
Cap Rate
6.5%
Site & Location
Traffic Count
38,000 vehicles/day
Road Access
Yes
Building Details
Buildings
1
Tenancy
Single
Listing Agency:
TD Commercial Group
Listed By:
Jared McNutt · License #SL3631750
Source:
Crexi
Added: Sep 16
Changed: Sep 24
Last Checked: Sep 24 at 2:12PM
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 TD Commercial Group
Investment Insights
Based on property information with market context.
The Tuffy Tire & Auto service property contains approximately 4,200 SF on a 0.76-acre parcel. Its absolute NNN lease includes a corporate guaranty from Mavis Tire Supply LLC, with the tenant responsible for taxes, insurance, utilities, HVAC, roof, and structural obligations. The current term extends through May 31, 2032, and includes four automatic five-year extension options, each with a 5% rent increase. If all options are exercised, the lease runs through May 31, 2052.
At 1640 W Laskey Road in Toledo, the property occupies a signalized corner at Jackman Road, with frontage along both roads. Combined traffic at the intersection exceeds 38,000 VPD. Miracle Mile Shopping Plaza, a 298,765-SF grocery-anchored center, is directly across the intersection and includes Kroger, Crunch Fitness, Harbor Freight Tools, and Dollar General.
At 1640 W Laskey Road in Toledo, the property occupies a signalized corner at Jackman Road, with frontage along both roads. Combined traffic at the intersection exceeds 38,000 VPD. Miracle Mile Shopping Plaza, a 298,765-SF grocery-anchored center, is directly across the intersection and includes Kroger, Crunch Fitness, Harbor Freight Tools, and Dollar General.
Key Highlights
- Approximately 4,200 SF auto service building on a 0.76‑acre parcel
- Absolute NNN lease with Mavis Tire Supply LLC corporate guaranty
- Tenant covers taxes, insurance, utilities, HVAC, roof, and structural obligations
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
$27,383
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
3.09%
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%
$547,660
$547.7K
Cap Rate 7%
$391,186
$391.2K
Cap Rate 9%
$304,256
$304.3K
Market Conditions
NOI Build-Up for 4,200 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
$42.3K $10.08/SF
− Vacancy
−$3.2K −$0.77/SF
EGI
$39.1K $9.31/SF
− OpEx
−$11.7K −$2.79/SF
NOI
$27.4K $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%
$547,660
Cap Rate 7%
$391,186
Cap Rate 9%
$304,256
Alternative Uses
Best Use
Retail
$391.2K
$342.3K – $456.4K
NOI $27,383 @ 7.0% cap · market cap 3.09%
Second Best
Industrial
$364.0K
$318.5K – $424.6K
NOI $25,478 @ 7.0% cap · market cap 2.88%
Theoretical Best
Office A
$699.0K
$611.6K – $815.5K
NOI $48,928 @ 7.0% cap · market cap 5.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
38,000 VPD
Traffic count
100%
Occupancy
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
334
Businesses Nearby
225k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 35%
Shops & Services 32%
Groceries 28%
Home Improvements & Furnishings 4%
Kroger
Groceries
62,357 visits/mo
0.3 miles
McDonald's
Dining
25,613 visits/mo
0.2 miles
Dollar Tree
Shops & Services
21,807 visits/mo
0.4 miles
Kroger Fuel Center
Shops & Services
18,954 visits/mo
0.2 miles
Speedway
Shops & Services
16,881 visits/mo
0.4 miles
Demographics for 43612, OH
29,718
Population
13,409
Households
2.2
Avg Household Size
35
Median Age
13%
College-Educated
90%
High-School Grad
11.5 sq mi
ZIP Area
2,584
Density / Sq Mi
$50,484
Median Household Income
$33,770
Median Earnings
$976
Median Rent
$89,700
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- R8 Auto Repair — 1965 Tremainsville Rd, Toledo, OH 43613
- March Hares Auto Repairs — 2219 W Laskey Rd, Toledo, OH 43613
- 5 Stars AutoSales & Repairs — 2159 W Laskey Rd, Toledo, OH 43613
- Laskey Tires & Auto — 2159 W Laskey Rd, Toledo, OH 43613
- Good Deal Auto & Tire — 2010 W Laskey Rd, Toledo, OH 43613
Frequently Asked Questions
What type of property is this?
Auto shop - An automotive service facility occupies a signalized corner parcel with frontage on two roads.
Where is this auto shop located?
The property is located at 1640 W Laskey Road Toledo, OH.
What is the asking price?
The asking price for this property is $885,000.
What are key features of this property?
This property features: Approximately 4,200 SF auto service building on a 0.76‑acre parcel; Absolute NNN lease with Mavis Tire Supply LLC corporate guaranty; Tenant covers taxes, insurance, utilities, HVAC, roof, and structural obligations
