Automotive Dealership and Service
441 Spencer St Toledo, OH 43609
For Sale
Contact for pricing
Portfolio offering two automotive sites with fenced lots and commercial zoning, featuring dealership/showroom, retail, and service shop buildings.
Property Size30,000 SF
Price / SF$150
Days on Market163
Property Features for 441 Spencer St
General Information
Standard status
Active
Size
30,000 SF
Property subtype
RETAIL
Listing Agency:
Hanna Commercial Real Estate | Ann Arbor
(216) 214-1197
Listed By:
David Mrachko · License #2012003123
(216) 214-1197
Source:
Moodyscre
Added: Feb 16
Changed: Jul 29
Last Checked: Jul 29 at 1:54AM
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 Hanna Commercial Real Estate | Ann Arbor
Investment Insights
Based on property information with market context.
This portfolio includes two separate automotive real estate locations, each comprised of multiple parcels that could not be merged due to differing directions of the parcels. The first site at 1020 N Reynolds Rd, Toledo, OH 43615 includes parcels including 1002 N Reynolds, 1020 N Reynolds, and 1024 N Reynolds, plus parcels at 5145 Ancil and 5141 Ancil. This location has two buildings: a 3,060 SF shop and a 2,644 SF retail building.
The second site at 441 Spencer St, Toledo, OH 43609 includes parcels listed as 441 Spencer St and multiple parcels on South Ave (1338, 1332, 1334, and 1356 South Ave). This site also has two buildings: a 7,680 SF dealership building with showroom/parts/service bays and a 2,663 SF shop. Both locations include fenced lots and are identified as having commercial zoning.
The second site at 441 Spencer St, Toledo, OH 43609 includes parcels listed as 441 Spencer St and multiple parcels on South Ave (1338, 1332, 1334, and 1356 South Ave). This site also has two buildings: a 7,680 SF dealership building with showroom/parts/service bays and a 2,663 SF shop. Both locations include fenced lots and are identified as having commercial zoning.
Key Highlights
- Two automotive locations in Toledo, OH, each with fenced lots and commercial zoning
- 1020 N Reynolds Rd site: 2 buildings totaling 3,060 SF shop and 2,644 SF retail building
- 1020 N Reynolds Rd parcels listed: 1002 N Reynolds, 1020 N Reynolds, 1024 N Reynolds, 5145 Ancil, and 5141 Ancil (approx. 1.2 acres total)
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $302.4k | $10.08 |
| − Vacancy | −$23.0k | −$0.77 |
| EGI | $279.4k | $9.31 |
| − OpEx | −$83.8k | −$2.79 |
| NOI | $195.6k | $6.52 |
30,000 SF · lease $10.08/SF/yr · vacancy 7.60% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.79M
$2.44M – $3.26M
NOI $195,592 @ 7.0% cap · market cap 4.35%
Second Best
Industrial
$2.60M
$2.27M – $3.03M
NOI $181,988 @ 7.0% cap · market cap 4.04%
Theoretical Best
Office A
$4.99M
$4.37M – $5.82M
NOI $349,488 @ 7.0% cap · market cap 7.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Similar Off Market Nearby
- Big Chop's Custom Cycle Parts & Repair — 2128 Broadway St, Toledo, OH 43609
- South toledo towing service — 1710 arlington ave, toledo, oh 43609
- Easy Auto Repairs Mobile Mechanic — 1710 Arlington Ave, Toledo, OH 43609
- K & K Auto Body — 1450 South Ave, Toledo, OH 43609
- Dave's Auto Service — 906 Woodsdale Ave, Toledo, OH 43609
Frequently Asked Questions
What type of property is this?
Auto shop - Portfolio offering two automotive sites with fenced lots and commercial zoning, featuring dealership/showroom, retail, and service shop buildings.
Where is this auto shop located?
The property is located at 441 Spencer St Toledo, OH.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: Two automotive locations in Toledo, OH, each with fenced lots and commercial zoning; 1020 N Reynolds Rd site: 2 buildings totaling 3,060 SF shop and 2,644 SF retail building; 1020 N Reynolds Rd parcels listed: 1002 N Reynolds, 1020 N Reynolds, 1024 N Reynolds, 5145 Ancil, and 5141 Ancil (approx. 1.2 acres total)
