For Sale
$170,000
4747 N Summit St, Toledo, OH 43611
Storefront properties
Property Size2,100 SF
Days on Market98
Property Features for 4747 N Summit St
General Information
Standard status
Active
Size
2,100 SF
Property subtype
Retail
Building Details
Building Size
2,100 SF
Year Built
1950
Listed By:
Matt Kwiatkowski
(419) 779-7548
Source:
Millerdiversified
Added: Jun 1
Changed: Sep 5
Last Checked: Sep 5 at 6:36AM
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 Matt Kwiatkowski
Investment Insights
Based on property information with market context.
Key Highlights
- Brick building built in 1950 with retail storefront and open front layout
- Storefront updates: new windows and door, new outside lighting, and signage‑ready frontage
- Exterior improvements include a new roof and new exterior paint
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
$13,691
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
8.05%
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%
$273,820
$273.8K
Cap Rate 7%
$195,586
$195.6K
Cap Rate 9%
$152,122
$152.1K
Market Conditions
NOI Build-Up for 2,100 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
$21.2K $10.08/SF
− Vacancy
−$1.6K −$0.77/SF
EGI
$19.6K $9.31/SF
− OpEx
−$5.9K −$2.79/SF
NOI
$13.7K $6.52/SF
Area
Toledo, OH
Vacancy
7.60%
Lease Rate
$10.08 /SF/Yr
Expense Ratio
30.00%
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%
$273,820
Cap Rate 7%
$195,586
Cap Rate 9%
$152,122
Alternative Uses
Best Use
Retail
$195.6K
$171.1K – $228.2K
NOI $13,691 @ 7.0% cap · market cap 8.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$349.5K
$305.8K – $407.7K
NOI $24,464 @ 7.0% cap · market cap 14.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
251
Businesses Nearby
44k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 59%
Dining 38%
Home Improvements & Furnishings 3%
McDonald's
Dining
14,523 visits/mo
0.5 miles
Dollar Tree
Shops & Services
9,329 visits/mo
0.0 miles
Huntington Bank
Shops & Services
5,484 visits/mo
0.5 miles
Dollar General
Shops & Services
4,692 visits/mo
0.1 miles
Fifth Third Bank & ATM
Shops & Services
3,195 visits/mo
0.2 miles
Demographics for 43611, OH
18,505
Population
8,854
Households
2.1
Avg Household Size
41
Median Age
16%
College-Educated
88%
High-School Grad
7.3 sq mi
ZIP Area
2,535
Density / Sq Mi
$58,135
Median Household Income
$36,185
Median Earnings
$832
Median Rent
$117,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
Where is this storefront property located?
The property is located at 4747 N Summit St Toledo, OH.
What is the asking price?
The asking price for this property is $170,000.
What are key features of this property?
This property features: Brick building built in 1950 with retail storefront and open front layout; Storefront updates: new windows and door, new outside lighting, and signage‑ready frontage; Exterior improvements include a new roof and new exterior paint
