Building Details

Year built 1950

Floors in Building 1

Buildings 1

Listing Agency: Century 21 Excellence Realty · Century 21 Real Estate t***@century21deanna.com Show Phone

Listed By: Sandeep Marwah Show Phone

Added: Jun 9 Changed: Oct 26 Last Checked: Oct 26 at 6:06AM

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MLS# 226020888

Copyright © 2026 Columbus and Central Ohio Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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Investment Insights

Based on property information with market context.

This freestanding retail property includes a 3,200-square-foot building on 0.19 acres. The asset is associated with an operating grocery and convenience business and includes paved on-site parking. Built in 1950, the property offers an existing commercial structure suited to continued retail use.

The property is located at 4235 Monroe Street in Toledo, Ohio, within Lucas County. Electricity is available, and the site is served by public sewer. The existing business, standalone format, and parking provide a defined operating setup for a retail user.

Key Highlights

• 3,200‑square‑foot freestanding retail building
• 0.19‑acre commercial parcel
• Operating grocery and convenience business

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$24,365

Cap Rate

3.25%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$487,300 $487.3K

Cap Rate 7%

$348,071 $348.1K

Cap Rate 9%

$270,722 $270.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,200 SF

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 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 (±1% cap)

NOI $24,365 @ 7.0% cap · market cap 3.25%

Second Best

Retail

$298.0K

$260.8K – $347.7K (±1% cap)

NOI $20,863 @ 7.0% cap · market cap 2.78%

Theoretical Best

Office A

$532.6K

$466.0K – $621.3K (±1% cap)

NOI $37,279 @ 7.0% cap · market cap 4.97%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Grocery and convenience stores

Suggested Use

Top Pick Real Estate Agency Law Firm Building Supply HVAC Service Kitchen & Bath Showroom Parking Lot & Garage

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

719

Businesses Nearby

49k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 72% Shops & Services 28%

Dunkin' Donuts Dining

17,449 visits/mo 0.4 miles

Wendy's Dining

15,996 visits/mo 0.2 miles

BP Shops & Services

13,263 visits/mo 0.2 miles

Marco's Pizza Dining

1,954 visits/mo 0.4 miles

Tireman Shops & Services

464 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

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

Grocery and convenience store - Operating retail business in a standalone building with on-site paved parking and established utility connections.

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: 3,200‑square‑foot freestanding retail building; 0.19‑acre commercial parcel; Operating grocery and convenience business