Restaurant Buildings For
For Sale
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5038 & 5044 Lewis Ave, Toledo, OH 43612
Two adjacent commercial buildings configured for restaurant use.
Property Size4,260 SF
Price / SF$91.55
Days on Market220
Property Features for 5038 & 5044 Lewis Ave
General Information
Standard status
Active
Size
4,260 SF
Property subtype
Retail
Zoning
Regional Commercial - CR
Building Details
Year Built
1950
Buildings
2
Stories
1
Units
1
Listing Agency:
NAI Harmon Group
Listed By:
Becky Beck · License #OH SAL.2023004979
(419) 960-4410
Source:
Crexi
Added: Feb 28
Changed: Oct 3
Last Checked: Oct 5 at 4:27PM
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
Estimated NOI and Cap Rate
NOI / Yr
$32,436
Cap Rate
8.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$648,720
$648.7K
Cap Rate 7%
$463,371
$463.4K
Cap Rate 9%
$360,400
$360.4K
Market Conditions
NOI Build-Up for 4,260 SF
Gross rent
$46.0K $10.80/SF
− Vacancy
−$2.8K −$0.65/SF
EGI
$43.2K $10.15/SF
− OpEx
−$10.8K −$2.54/SF
NOI
$32.4K $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 Rate 5%
$648,720
Cap Rate 7%
$463,371
Cap Rate 9%
$360,400
Alternative Uses
Best Use
Specialty Retail
$463.4K
$405.5K – $540.6K
NOI $32,436 @ 7.0% cap · market cap 8.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$709.0K
$620.3K – $827.1K
NOI $49,627 @ 7.0% cap · market cap 12.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
298
Businesses Nearby
29k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 94%
Electronics 6%
Circle K
Shops & Services
15,866 visits/mo
0.4 miles
Cash America
Shops & Services
3,882 visits/mo
0.1 miles
Family Dollar
Shops & Services
3,654 visits/mo
0.1 miles
AutoZone
Shops & Services
3,441 visits/mo
0.2 miles
Cricket Wireless Authorized Retailer
Electronics
974 visits/mo
0.1 miles
Demographics for 43612, OH
29,718
Population
13,409
Households
2.2
Avg Household Size
35
Median Age
13%
College-Educated
90%
High-School Grad
11.5 sq mi
ZIP Area
2,584
Density / Sq Mi
$50,484
Median Household Income
$33,770
Median Earnings
$976
Median Rent
$89,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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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 $390,000.
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**
