Freestanding Grocery
For Sale
$750,000
4235 Monroe Street, Toledo, OH 43606
Commercial Sale, Toledo, OH
Property Size3,200 SF
Lot Size0.19 Acres
Price / SF$234.38
Days on Market92
Property Features for 4235 Monroe Street
General Information
Property type
Residential
Property subtype
Retail
Zoning description
10-CR
Standard status
Active
APN
10-44014
Size
3,200 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6773
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Building Details
Year built
1950
Floors in Building
1
Listing Agency:
Century 21 Excellence Realty · Century 21 Real Estate
(800) 783-2100
Listed By:
Sandeep Marwah · License #2024001750
(614) 680-5997
Added: Jun 9
Changed: Sep 8
Last Checked: Sep 8 at 5:06PM
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.
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.
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 = 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
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
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 - 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
