Retail Space For
For Sale
Contact for pricing
309-337 Alexis Road, Toledo, OH 43612
Retail space available for purchase.
Property Size19,520 SF
Price / SF$92.21
Days on Market811
Property Features for 309-337 Alexis Road
General Information
Standard status
Active
Size
19,520 SF
Total Parking Spaces
64
Property subtype
Retail
Zoning
C-R (Regional Commercial)
Occupancy
100%
Lease Type
NNN
Building Details
Year Renovated
2011
Tenancy
Multi
Listing Agency:
CMP Real Estate Group
(248) 538-2000
Listed By:
Andrew Roye · License #MI
Source:
Crexi
Added: Jun 12, 2024
Changed: Aug 16
Last Checked: Aug 29 at 11:32PM
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 CMP Real Estate Group
Investment Insights
Based on property information with market context.
A retail space is available for sale. The property has a size of 19520 square feet.
Key Highlights
- No property information was provided to analyze.
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
$127,265
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
7.07%
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%
$2,545,300
$2.5M
Cap Rate 7%
$1,818,071
$1.8M
Cap Rate 9%
$1,414,056
$1.4M
Market Conditions
NOI Build-Up for 19,520 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
$196.8K $10.08/SF
− Vacancy
−$15.0K −$0.77/SF
EGI
$181.8K $9.31/SF
− OpEx
−$54.5K −$2.79/SF
NOI
$127.3K $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%
$2,545,300
Cap Rate 7%
$1,818,071
Cap Rate 9%
$1,414,056
Alternative Uses
Best Use
Retail
$1.82M
$1.59M – $2.12M
NOI $127,265 @ 7.0% cap · market cap 7.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.25M
$2.84M – $3.79M
NOI $227,400 @ 7.0% cap · market cap 12.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
379
Businesses Nearby
199k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 35%
Groceries 24%
Dining 20%
Shops & Services 16%
Target
Superstores
69,162 visits/mo
0.3 miles
Kroger
Groceries
46,982 visits/mo
0.5 miles
McDonald's
Dining
28,773 visits/mo
0.4 miles
Kroger Fuel Center
Shops & Services
17,481 visits/mo
0.5 miles
GameStop
Electronics
7,547 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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Frequently Asked Questions
What type of property is this?
Retail space - Retail space available for purchase.
Where is this retail space located?
The property is located at 309-337 Alexis Road Toledo, OH.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: No property information was provided to analyze.
