Free-Standing Restaurant with
For Sale
Contact for pricing
2124 W Alexis Rd, Toledo, OH 43613
Standalone former restaurant includes two drive-thru windows, a large dining area, kitchen, prep space, and two restrooms.
Property Size2,423 SF
Price / SF$103.18
Days on Market198
Property Features for 2124 W Alexis Rd
General Information
Standard status
Active
Size
2,423 SF
Property subtype
RETAIL
Site & Location
Frontage
124 ft
Drive-Thru
Yes
Traffic Count
28,885 vehicles/day
Road Access
Yes
Additional Details
Seating Capacity
100
Building Details
Buildings
1
Listing Agency:
SVN Ascension
(419) 540-8888
Listed By:
Patrick West · License ##SAL.2023003931
(734) 344-2317
Source:
Moodyscre
Added: Mar 23
Changed: Oct 1
Last Checked: Oct 5 at 6:17PM
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
Investment Insights
Based on property information with market context.
This 2,423 SF free-standing former restaurant is available for sale along a retail corridor and is configured with a large dining area, kitchen, and prep area. The interior also includes two restrooms, supporting restaurant-style operations. The building features two drive-through windows with convenient drive-thru access via two curb cuts.
The property offers strong street presence with 124 feet of frontage and pylon and fascia signage available. It is positioned near major national big-box retailers, other restaurants, and the Toledo Trade Center industrial park, a redevelopment project described as bringing 850,000+ SF of premier industrial space and new job growth.
The regional commercial zoning allows for a variety of uses. The building was previously utilized as a dine-in and drive-through fast food restaurant, and it provides ample private, paved parking with an identified seating capacity of 100.
The property offers strong street presence with 124 feet of frontage and pylon and fascia signage available. It is positioned near major national big-box retailers, other restaurants, and the Toledo Trade Center industrial park, a redevelopment project described as bringing 850,000+ SF of premier industrial space and new job growth.
The regional commercial zoning allows for a variety of uses. The building was previously utilized as a dine-in and drive-through fast food restaurant, and it provides ample private, paved parking with an identified seating capacity of 100.
Key Highlights
- 2,423 SF free‑standing former restaurant on the busy Alexis Rd retail corridor
- Two drive‑through windows with convenient drive‑thru access via two curb cuts
- 124 ft of frontage with pylon and fascia signage available
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,449
Cap Rate
7.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$368,980
$369.0K
Cap Rate 7%
$263,557
$263.6K
Cap Rate 9%
$204,989
$205.0K
Market Conditions
NOI Build-Up for 2,423 SF
Gross rent
$26.2K $10.80/SF
− Vacancy
−$1.6K −$0.65/SF
EGI
$24.6K $10.15/SF
− OpEx
−$6.1K −$2.54/SF
NOI
$18.4K $7.61/SF
Area
Toledo, OH
Vacancy
6.00%
Lease Rate
$10.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$368,980
Cap Rate 7%
$263,557
Cap Rate 9%
$204,989
Alternative Uses
Best Use
Specialty Retail
$263.6K
$230.6K – $307.5K
NOI $18,449 @ 7.0% cap · market cap 7.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$403.2K
$352.8K – $470.5K
NOI $28,227 @ 7.0% cap · market cap 11.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
28,885 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
225
Businesses Nearby
53k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 66%
Dining 34%
Speedway
Shops & Services
22,385 visits/mo
0.5 miles
Taco Bell
Dining
10,862 visits/mo
0.1 miles
Marathon
Shops & Services
6,179 visits/mo
0.4 miles
Long John Silver's
Dining
5,526 visits/mo
0.4 miles
AutoZone
Shops & Services
3,339 visits/mo
0.1 miles
Demographics for 43613, OH
32,116
Population
14,376
Households
2.2
Avg Household Size
37
Median Age
23%
College-Educated
93%
High-School Grad
6.1 sq mi
ZIP Area
5,265
Density / Sq Mi
$63,425
Median Household Income
$41,877
Median Earnings
$895
Median Rent
$125,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - Standalone former restaurant includes two drive-thru windows, a large dining area, kitchen, prep space, and two restrooms.
Where is this drive through restaurant located?
The property is located at 2124 W Alexis Rd Toledo, OH.
What is the asking price?
The asking price for this property is $249,997.
What are key features of this property?
This property features: 2,423 SF free‑standing former restaurant on the busy Alexis Rd retail corridor; Two drive‑through windows with convenient drive‑thru access via two curb cuts; 124 ft of frontage with pylon and fascia signage available
