Free-Standing Retail
For Sale
Contact for pricing
4235 Monroe Street, Toledo, OH 43606
Turnkey retail opportunity in Toledo with paved personal parking and an operating business generating $120,000 per month.
Property Size3,200 SF
Price / SF$234.38
Days on Market61
Property Features for 4235 Monroe Street
General Information
Standard status
Active
Size
3,200 SF
Property subtype
Special Purpose
Building Details
Year Built
1950
Listing Agency:
CENTURY 21 Excellence Realty
(614) 680-5997
Listed By:
Sandeep Marwah · License #OH 2024001750
Source:
Crexi
Added: Jun 10
Changed: Aug 8
Last Checked: Aug 8 at 9:01AM
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 CENTURY 21 Excellence Realty
Investment Insights
Based on property information with market context.
This turnkey retail opportunity is a free-standing commercial storefront offering approximately 3,200 square feet designed for day-to-day operations. The property is presented as an operating business, with the current business producing $120,000 per month per the seller’s public remarks. Paved personal parking is included, supporting customer access and convenient on-site stays.
Located at 4235 Monroe Street in Toledo, Ohio 43606, the property’s free-standing format allows for straightforward customer flow and independent tenancy. The paved parking arrangement is intended to complement storefront visits and reduce reliance on off-site parking.
For buyers and operators seeking a ready-to-run retail space, this offering provides an established operating business and a dedicated retail building with on-site paved parking. The combination of an operating setup and a free-standing configuration can be attractive for a tenant or owner-operator looking to continue current retail operations while evaluating future site or business adjustments within the existing footprint.
Located at 4235 Monroe Street in Toledo, Ohio 43606, the property’s free-standing format allows for straightforward customer flow and independent tenancy. The paved parking arrangement is intended to complement storefront visits and reduce reliance on off-site parking.
For buyers and operators seeking a ready-to-run retail space, this offering provides an established operating business and a dedicated retail building with on-site paved parking. The combination of an operating setup and a free-standing configuration can be attractive for a tenant or owner-operator looking to continue current retail operations while evaluating future site or business adjustments within the existing footprint.
Key Highlights
- Free‑standing commercial retail building built in 1950
- About 3,200 sq ft commercial retail space
- Operating business with reported income of $120,000 per month
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
$24,365
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
3.25%
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%
$487,300
$487.3K
Cap Rate 7%
$348,071
$348.1K
Cap Rate 9%
$270,722
$270.7K
Market Conditions
NOI Build-Up for 3,200 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
$34.6K $10.80/SF
− Vacancy
−$2.1K −$0.65/SF
EGI
$32.5K $10.15/SF
− OpEx
−$8.1K −$2.54/SF
NOI
$24.4K $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 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%
$487,300
Cap Rate 7%
$348,071
Cap Rate 9%
$270,722
Alternative Uses
Best Use
Specialty Retail
$348.1K
$304.6K – $406.1K
NOI $24,365 @ 7.0% cap · market cap 3.25%
Second Best
Retail
$298.0K
$260.8K – $347.7K
NOI $20,863 @ 7.0% cap · market cap 2.78%
Theoretical Best
Office A
$532.6K
$466.0K – $621.3K
NOI $37,279 @ 7.0% cap · market cap 4.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
769
Businesses Nearby
11k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
3,900 visits/mo
0.5 miles
Marathon Petroleum
Shops & Services
3,795 visits/mo
0.5 miles
Dollar General
Shops & Services
3,497 visits/mo
0.5 miles
Demographics for 43606, OH
25,671
Population
11,700
Households
2.2
Avg Household Size
31
Median Age
42%
College-Educated
94%
High-School Grad
6.5 sq mi
ZIP Area
3,949
Density / Sq Mi
$60,308
Median Household Income
$32,997
Median Earnings
$938
Median Rent
$165,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Food Town Fresh Market of Toledo — 2725 Central Ave, Toledo, OH 43606
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Turnkey retail opportunity in Toledo with paved personal parking and an operating business generating $120,000 per month.
Where is this grocery and convenience store located?
The property is located at 4235 Monroe Street Toledo, OH.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Free‑standing commercial retail building built in 1950; About 3,200 sq ft commercial retail space; Operating business with reported income of $120,000 per month
