Corner Storefront Retail
For Sale
$195,000
2402 Aberdeen Avenue, Toledo, OH 43614
Two leased suites with dual-street access, on-site parking, and prominent corner exposure.
Property Size2,296 SF
Price / SF$84.93
Days on Market91
Property Features for 2402 Aberdeen Avenue
General Information
Standard status
Active
Size
2,296 SF
Total Parking Spaces
10
Property subtype
Retail
Occupancy
100%
Site & Location
Frontage
195 ft
Corner Location
Yes
Traffic Count
13,569 vehicles/day
Road Access
Yes
Building Details
Building Size
2,296 SF
Year Built
1957
Buildings
1
Tenancy
Multi
Listing Agency:
SVN | Ascension Commercial Realty
(419) 351-4918
Listed By:
Mike Scannell · License #292744
(419) 351-4918
Source:
Svn-acre
Added: Jun 2
Changed: Aug 29
Last Checked: Aug 30 at 4:21PM
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 2,296 SF retail building contains two leased units, each with its own restroom. The property includes 10 parking spots, two curb cuts, and fascia signage, with one access point from Detroit Avenue and another from Aberdeen Avenue. Current occupants are Signature Salon and Lily Pads.
The building sits at 2402 Aberdeen Avenue in South Toledo, within a mature neighborhood setting. Kroger is located 1/4 mile south, and The University of Toledo Medical Center is approximately 1 mile away. Traffic counts are reported at 13,569 VPD on South Detroit Avenue and 18,566 VPD on Glendale Avenue, both from 2025. Constructed in 1957, the property offers an established retail configuration with existing leased occupancy.
The building sits at 2402 Aberdeen Avenue in South Toledo, within a mature neighborhood setting. Kroger is located 1/4 mile south, and The University of Toledo Medical Center is approximately 1 mile away. Traffic counts are reported at 13,569 VPD on South Detroit Avenue and 18,566 VPD on Glendale Avenue, both from 2025. Constructed in 1957, the property offers an established retail configuration with existing leased occupancy.
Key Highlights
- 2,296 SF retail building constructed in 1957
- Two leased units with one restroom per suite
- 195 ft of corner frontage with fascia signage
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
$14,969
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
7.68%
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%
$299,380
$299.4K
Cap Rate 7%
$213,843
$213.8K
Cap Rate 9%
$166,322
$166.3K
Market Conditions
NOI Build-Up for 2,296 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
$23.1K $10.08/SF
− Vacancy
−$1.8K −$0.77/SF
EGI
$21.4K $9.31/SF
− OpEx
−$6.4K −$2.79/SF
NOI
$15.0K $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%
$299,380
Cap Rate 7%
$213,843
Cap Rate 9%
$166,322
Alternative Uses
Best Use
Retail
$213.8K
$187.1K – $249.5K
NOI $14,969 @ 7.0% cap · market cap 7.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$382.1K
$334.3K – $445.8K
NOI $26,747 @ 7.0% cap · market cap 13.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
13,569 VPD
Traffic count
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
279
Businesses Nearby
60k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 74%
Shops & Services 23%
Apparel 3%
Kroger
Groceries
44,342 visits/mo
0.5 miles
Kroger Fuel Center
Shops & Services
13,966 visits/mo
0.4 miles
Goody's
Apparel
1,868 visits/mo
0.1 miles
Demographics for 43614, OH
29,866
Population
14,651
Households
2
Avg Household Size
42
Median Age
32%
College-Educated
94%
High-School Grad
9.0 sq mi
ZIP Area
3,318
Density / Sq Mi
$57,253
Median Household Income
$38,463
Median Earnings
$887
Median Rent
$160,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Kroger Floral Department — 2555 Glendale Ave, Toledo, OH 43614
Frequently Asked Questions
What type of property is this?
Storefront property - Two leased suites with dual-street access, on-site parking, and prominent corner exposure.
Where is this storefront property located?
The property is located at 2402 Aberdeen Avenue Toledo, OH.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: 2,296 SF retail building constructed in 1957; Two leased units with one restroom per suite; 195 ft of corner frontage with fascia signage
