Freestanding Former Restaurant
1641 W Sylvania Ave Toledo, OH
For Sale
Contact for pricing
Freestanding 1,768 SF former restaurant building for sale.
Property Size1,768 SF
Lot Size0.41 Acres
Price / SF$183.82
Days on Market359
Property Features for 1641 W Sylvania Ave
General Information
Standard status
Active
Size
1,768 SF
Lot size
0.41 Acres
Property subtype
RETAIL
Listing Agency:
Reichle | Klein Group
(419) 346-5826
Listed By:
Duke Wheeler · License #2002018621
(419) 346-5826
Source:
Moodyscre
Added: Aug 4, 2025
Changed: Jul 6
Last Checked: Jul 21 at 5:48AM
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 Reichle | Klein Group
Investment Insights
Based on property information with market context.
A freestanding, 1,768 square foot former restaurant building is available for purchase. Zoned as Regional Commercial, the building was previously occupied by a restaurant, and the former dining area has been converted into office space. The property benefits from multiple curb cuts, as well as pylon and building signage.
Key Highlights
- Freestanding building zoned Regional Commercial
- Multiple curb cuts for easy access
- Pylon and building signage available
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 | $19.1k | $10.80 |
| − Vacancy | −$1.1k | −$0.65 |
| EGI | $17.9k | $10.15 |
| − OpEx | −$4.5k | −$2.54 |
| NOI | $13.5k | $7.61 |
1,768 SF · lease $10.80/SF/yr · vacancy 6.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$192.3K
$168.3K – $224.4K
NOI $13,462 @ 7.0% cap · market cap 4.14%
Second Best
Retail
$164.7K
$144.1K – $192.1K
NOI $11,527 @ 7.0% cap · market cap 3.55%
Theoretical Best
Office A
$294.2K
$257.5K – $343.3K
NOI $20,596 @ 7.0% cap · market cap 6.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Retail space - Freestanding 1,768 SF former restaurant building for sale.
Where is this retail space located?
The property is located at 1641 W Sylvania Ave Toledo, OH.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Freestanding building zoned Regional Commercial; Multiple curb cuts for easy access; **Pylon and building signage available**
