Restaurant Buildings For
5038 & 5044 Lewis Ave Toledo, OH 43612
For Sale
Contact for pricing
Two adjacent commercial buildings configured for restaurant use.
Property Size4,260 SF
Price / SF$99.77
Days on Market151
Property Features for 5038 & 5044 Lewis Ave
General Information
Standard status
Active
Size
4,260 SF
Property subtype
Retail
Building Details
Year Built
1950
Listing Agency:
NAI Harmon Group
Listed By:
Becky Beck · License #OH SAL.2023004979
Source:
Crexi
Added: Feb 28
Changed: Jul 10
Last Checked: Jul 28 at 2:37PM
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 NAI Harmon Group
Investment Insights
Based on property information with market context.
Two adjacent commercial buildings totaling 4,260 square feet are available for acquisition. The buildings are currently configured for restaurant use and feature two commercial kitchens, dining area improvements, and back-of-house equipment. All furniture, fixtures, and equipment are included in the sale.
Key Highlights
- Two adjacent commercial buildings totaling 4,260 SF
- Currently configured for restaurant use
- Two commercial kitchens
Financial Insights For Specialty 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 | $46.0k | $10.80 |
| − Vacancy | −$2.8k | −$0.65 |
| EGI | $43.2k | $10.15 |
| − OpEx | −$10.8k | −$2.54 |
| NOI | $32.4k | $7.61 |
4,260 SF · lease $10.80/SF/yr · vacancy 6.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$463.4K
$405.5K – $540.6K
NOI $32,436 @ 7.0% cap · market cap 7.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$709.0K
$620.3K – $827.1K
NOI $49,627 @ 7.0% cap · market cap 11.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Two adjacent commercial buildings configured for restaurant use.
Where is this conventional restaurant located?
The property is located at 5038 & 5044 Lewis Ave Toledo, OH.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Two adjacent commercial buildings totaling 4,260 SF; Currently configured for restaurant use; **Two commercial kitchens**
