West Toledo Retail/Office
For Sale
Contact for pricing
Pending
4217 Talmadge Rd, Toledo, OH 43623
2.18 acres with two buildings in prime location.
Property Size30,880 SF
Lot Size2.18 Acres
Days on Market197
Property Features for 4217 Talmadge Rd
General Information
Standard status
Pending
Size
30,880 SF
Lot size
2.18 Acres
Property subtype
Office, Retail
Zoning
Regional Commercial/ Mixed
Occupancy
5%
Investment Type
Redevelopment
Building Details
Year Built
1966
Buildings
2
Stories
2
Tenancy
Multi
Listing Agency:
SVN Ascension Commercial Realty
(419) 262-3628
Listed By:
Doug Wright, CCIM · License #BRK6502433060
Source:
Crexi
Added: Jan 26
Changed: Aug 8
Last Checked: Aug 3 at 3:22AM
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 property features 2.18 acres across three parcels, improved with a 12,480 square foot retail/office building and an 18,400 square foot office building. It is prominently positioned in West Toledo along the Talmadge Road retail corridor, a four-lane thoroughfare with a center turning lane. The location is between Monroe Street and West Sylvania Avenue, ensuring strong traffic flow and connectivity. The site benefits from visibility and access with approximately 629 feet of corner frontage and 5 curb cuts, surrounded by a mix of national and local retailers and restaurants. Directly across Talmadge Road is the Franklin Park Mall, anchored by Dillard’s, JCPenney, and Dick’s Sporting Goods, drawing over 7 million visitors annually. The property is conveniently located less than one-half mile north of the I-475 interchange, providing access to regional traffic.
Key Highlights
- Prime location in the highly sought‑after Talmadge Road retail corridor in West Toledo.
- Excellent visibility and access with approximately 629 feet of frontage and 5 curb cuts.
- Close proximity to Franklin Park Mall with major anchor tenants and high visitor traffic.
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
$270,972
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
9.03%
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%
$5,419,440
$5.4M
Cap Rate 7%
$3,871,029
$3.9M
Cap Rate 9%
$3,010,800
$3.0M
Market Conditions
NOI Build-Up for 30,880 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
$481.7K $15.60/SF
− Vacancy
−$48.2K −$1.56/SF
EGI
$433.6K $14.04/SF
− OpEx
−$162.6K −$5.27/SF
NOI
$271.0K $8.77/SF
Area
Toledo, OH
Vacancy
10.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
37.50%
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%
$5,419,440
Cap Rate 7%
$3,871,029
Cap Rate 9%
$3,010,800
Alternative Uses
Best Use
Office B
$4.01M
$3.51M – $4.68M
NOI $281,047 @ 7.0% cap · market cap 9.37%
Second Best
Mixed Use
$3.87M
$3.39M – $4.52M
NOI $270,972 @ 7.0% cap · market cap 9.03%
Theoretical Best
Office A
$5.14M
$4.50M – $6.00M
NOI $359,740 @ 7.0% cap · market cap 11.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
789
Businesses Nearby
Explore this area
Business Placement
Demographics for 43623, OH
20,320
Population
10,056
Households
2
Avg Household Size
43
Median Age
31%
College-Educated
93%
High-School Grad
6.7 sq mi
ZIP Area
3,033
Density / Sq Mi
$65,908
Median Household Income
$40,496
Median Earnings
$933
Median Rent
$167,500
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - 2.18 acres with two buildings in prime location.
Where is this retail space located?
The property is located at 4217 Talmadge Rd Toledo, OH.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Prime location in the highly sought‑after Talmadge Road retail corridor in West Toledo.; Excellent visibility and access with approximately 629 feet of frontage and 5 curb cuts.; Close proximity to Franklin Park Mall with major anchor tenants and high visitor traffic.
