Truck Terminal with Open
For Sale
Contact for pricing
4431 South Ave, Toledo, OH 43615
Industrial property combines warehouse, office, garage, and open land supporting truck and trailer movement.
Property Size12,400 SF
Lot Size6.70 Acres
Price / SF$128.23
Days on Market460
Property Features for 4431 South Ave
General Information
Standard status
Active
Size
12,400 SF
Lot size
6.70 Acres
Property subtype
INDUSTRIAL
Warehouse & Industrial
Warehouse Space
8,800 SF
Office Build-Out
960 SF
Additional Details
Road Access
Yes
Listing Agency:
Reichle | Klein Group
(419) 283-2313
Listed By:
Jerry Malek, CCIM, SIOR
(419) 283-2313
Source:
Moodyscre
Added: May 30, 2025
Changed: Aug 29
Last Checked: Aug 31 at 6:39PM
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 Reichle | Klein Group
Investment Insights
Based on property information with market context.
This truck terminal occupies an open 6.7-acre property on South Ave. Improvements include an 8,800-square-foot warehouse, 960 square feet of office space, and a 2,640-square-foot garage. The site layout includes truck terminals positioned at the center, with truck and trailer areas on both the east and west sides.
Open land surrounds the improvements and supports ingress, egress, and navigation across the property. The combined building area totals 12,400 square feet, offering warehouse, office, and garage components within one industrial operation.
Open land surrounds the improvements and supports ingress, egress, and navigation across the property. The combined building area totals 12,400 square feet, offering warehouse, office, and garage components within one industrial operation.
Key Highlights
- Open 6.7‑acre property on South Ave.
- 8,800 SF warehouse
- 960 SF of office space
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
$91,341
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
5.74%
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%
$1,826,820
$1.8M
Cap Rate 7%
$1,304,871
$1.3M
Cap Rate 9%
$1,014,900
$1.0M
Market Conditions
NOI Build-Up for 12,400 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
$111.6K $9.00/SF
− Vacancy
−$4.1K −$0.33/SF
EGI
$107.5K $8.67/SF
− OpEx
−$16.1K −$1.30/SF
NOI
$91.3K $7.37/SF
Area
Toledo, OH
Vacancy
3.71%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$1,826,820
Cap Rate 7%
$1,304,871
Cap Rate 9%
$1,014,900
Alternative Uses
Best Use
Warehouse
$1.30M
$1.14M – $1.52M
NOI $91,341 @ 7.0% cap · market cap 5.74%
Second Best
Industrial
$1.07M
$940.3K – $1.25M
NOI $75,222 @ 7.0% cap · market cap 4.73%
Theoretical Best
Office A
$2.06M
$1.81M – $2.41M
NOI $144,455 @ 7.0% cap · market cap 9.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
163
Businesses Nearby
Explore this area
Business Placement
Demographics for 43615, OH
39,449
Population
19,620
Households
2
Avg Household Size
40
Median Age
28%
College-Educated
93%
High-School Grad
16.5 sq mi
ZIP Area
2,391
Density / Sq Mi
$58,466
Median Household Income
$38,196
Median Earnings
$1,014
Median Rent
$137,300
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Truck terminal - Industrial property combines warehouse, office, garage, and open land supporting truck and trailer movement.
Where is this truck terminal located?
The property is located at 4431 South Ave Toledo, OH.
What is the asking price?
The asking price for this property is $1,590,000.
What are key features of this property?
This property features: Open 6.7‑acre property on South Ave.; 8,800 SF warehouse; 960 SF of office space
