NNN Leased Investment
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4842 Dorr St, Toledo, OH
NNN leased investment property in Toledo, OH with 15-year lease.
Property Size3,304 SF
Lot Size0.57 Acres
Price / SF$181.60
Days on Market266
Property Features for 4842 Dorr St
General Information
Standard status
Active
Size
3,304 SF
Lot size
0.57 Acres
Property subtype
RETAIL
Listing Agency:
SVN | Silveri Company
(616) 893-1398
Listed By:
Peter Colvin · License #6501197270
(616) 893-1398
Source:
Moodyscre
Added: Nov 25, 2025
Changed: Aug 10
Last Checked: Aug 18 at 11:31AM
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 SVN | Silveri Company
Investment Insights
Based on property information with market context.
This NNN leased investment property is located in Toledo, OH. The property is situated on a hard corner near Inverness Club. It features a 15-year absolute triple net lease with 1.5% annual rent increases, plus renewal options. The property is leased to Costa Ten Minute Oil Change, a quick lube company with approximately 50 current locations and plans to open 250 more locations. The property previously housed an auto detail business with a tunnel car wash before being converted into a two-bay Costa Oil Change and car wash. The tunnel wash remains and generates income for the Costa Oils operator and serves their customers as well as the area residents. The property is located in a heavily populated area with over 220,000 people living within a 5-mile radius. The building size is 3,304 square feet.
Key Highlights
- 15‑year absolute triple net lease with 1.5% annual rent increases and renewal options.
- NNN leased investment property with generous cap rate and price.
- Located on a hard corner in Ottawa Hills, Toledo OH.
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
$25,157
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
4.19%
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%
$503,140
$503.1K
Cap Rate 7%
$359,386
$359.4K
Cap Rate 9%
$279,522
$279.5K
Market Conditions
NOI Build-Up for 3,304 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
$35.7K $10.80/SF
− Vacancy
−$2.1K −$0.65/SF
EGI
$33.5K $10.15/SF
− OpEx
−$8.4K −$2.54/SF
NOI
$25.2K $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%
$503,140
Cap Rate 7%
$359,386
Cap Rate 9%
$279,522
Alternative Uses
Best Use
Specialty Retail
$359.4K
$314.5K – $419.3K
NOI $25,157 @ 7.0% cap · market cap 4.19%
Second Best
Retail
$307.7K
$269.3K – $359.0K
NOI $21,541 @ 7.0% cap · market cap 3.59%
Theoretical Best
Office A
$549.9K
$481.1K – $641.5K
NOI $38,490 @ 7.0% cap · market cap 6.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
209
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Hasty's Service, Inc — 4738 Dorr St, Toledo, OH 43615
- Savoy Motors — 1921 N Reynolds Rd, Toledo, OH 43615
- Rads Automotive Repair — 1629 Hess Rd, Toledo, OH 43615
- Costa Oil - 10 Minute Oil Change - Toledo Dorr St. — 4842 Dorr St, Toledo, OH 43615
- Piasecki Towing Service — Suite A, 5055 Dorr St, Toledo, OH 43615
Frequently Asked Questions
What type of property is this?
Auto shop - NNN leased investment property in Toledo, OH with 15-year lease.
Where is this auto shop located?
The property is located at 4842 Dorr St Toledo, OH.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 15‑year absolute triple net lease with 1.5% annual rent increases and renewal options.; NNN leased investment property with generous cap rate and price.; Located on a hard corner in Ottawa Hills, Toledo OH.
