Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Building Details

Year Built 2017

Tenancy Single

Listing Agency: Forged Real Estate

Listed By: Marc Mandel · License #NJ Show Phone

Source: Crexi

Added: Aug 6 Changed: Oct 6 Last Checked: Oct 14 at 11:30PM

Report an Issue

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 Forged Real Estate

Investment Insights

Based on property information with market context.

This 2017-built retail property in Ottawa, Ohio, is occupied by Tractor Supply Co. under a fee simple double-net lease. The arrangement assigns limited responsibilities to the landlord and has six years of firm term remaining. Contractual rent increases are set at 5% every five years, with the next adjustment scheduled for 2027.

The store at 203 Meadowglen Drive serves a rural and agricultural trade area and is the only Tractor Supply Co. location within a 15-mile radius. Ottawa is the county seat of Putnam County and functions as a regional center for government, healthcare, shopping, and employment. The tenant is a Fortune 500 company with an investment-grade BBB credit rating from Standard & Poor’s.

Key Highlights

• Tractor Supply Co. single‑tenant retail property in Ottawa, Ohio
• Fee simple double‑net lease with limited landlord responsibilities
• Six years of firm lease term remaining

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$124,508

Cap Rate

4.17%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,490,160 $2.5M

Cap Rate 7%

$1,778,686 $1.8M

Cap Rate 9%

$1,383,422 $1.4M

Is this asking price fair?

Market Conditions

NOI Build-Up for 19,097 SF

Gross rent

$192.5K $10.08/SF

− Vacancy

−$14.6K −$0.77/SF

EGI

$177.9K $9.31/SF

− OpEx

−$53.4K −$2.79/SF

NOI

$124.5K $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 Rate 5%

$2,490,160

Cap Rate 7%

$1,778,686

Cap Rate 9%

$1,383,422

Alternative Uses

Best Use

Retail

$1.78M

$1.56M – $2.08M (±1% cap)

NOI $124,508 @ 7.0% cap · market cap 4.17%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$3.18M

$2.78M – $3.71M (±1% cap)

NOI $222,472 @ 7.0% cap · market cap 7.44%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Retail space

Suggested Use

Top Pick Plumbing Service HVAC Service Locksmith Bakery Furniture & Home Goods Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

71

Businesses Nearby

7k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Valero Energy Shops & Services

6,638 visits/mo 0.5 miles

Demographics for 45875, OH

11,273

Population

4,203

Households

2.7

Avg Household Size

40

Median Age

34%

College-Educated

95%

High-School Grad

102.6 sq mi

ZIP Area

110

Density / Sq Mi

$86,358

Median Household Income

$51,309

Median Earnings

$810

Median Rent

$214,300

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Frequently Asked Questions

What type of property is this?

Retail space - Established retailer occupies the building under a fee simple double-net lease with limited landlord obligations.

Where is this retail space located?

The property is located at 203 Meadowglen Drive Ottawa, OH.

What is the asking price?

The asking price for this property is $2,989,000.

What are key features of this property?

This property features: Tractor Supply Co. single‑tenant retail property in Ottawa, Ohio; Fee simple double‑net lease with limited landlord responsibilities; Six years of firm lease term remaining