Open-Air Retail Shopping Center
For Sale
Contact for pricing
5223 Monroe St, Toledo, OH 43623
Open-air shopping center portfolio with 94% occupancy and a tenant mix anchored by major national retailers.
Property Size543,378 SF
Days on Market121
Property Features for 5223 Monroe St
General Information
Standard status
Active
Size
543,378 SF
Property subtype
Retail
Occupancy
94%
Site & Location
Traffic Count
22,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Building Details
Tenancy
Multi
Listing Agency:
JLL - Philadelphia, Pennsylvania
Listed By:
Colin Behr · License #PA RS318490
Source:
Crexi
Added: Apr 11
Changed: Aug 8
Last Checked: Jul 23 at 5:30PM
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 JLL - Philadelphia, Pennsylvania
Investment Insights
Based on property information with market context.
The Monroe Street Portfolio is a dominant collection of open-air shopping centers totaling 543,378 square feet. The portfolio is 94% occupied and includes a tenant lineup anchored by major national retailers such as Target, Golf Galaxy, Marshalls, HomeGoods, Five Below, Bob’s Discount Furniture, PetSmart, and Hobby Lobby, among others.
The portfolio is located in the Toledo MSA along the Monroe Street retail corridor. Access and consumer draw are supported by roadway visibility, with the Monroe Street corridor reported at approximately +22,000 VPD and nearby connections including Route 23 (+70,000 VPD) and I-475 (+71,000 VPD).
The portfolio has over 4.8 years of weighted average lease term and reports more than 81% of gross income derived from credit and anchor tenancy. Since 2020, the portfolio has recorded over 45,200 square feet of new leases and over 83,300 square feet of renewals.
The portfolio is located in the Toledo MSA along the Monroe Street retail corridor. Access and consumer draw are supported by roadway visibility, with the Monroe Street corridor reported at approximately +22,000 VPD and nearby connections including Route 23 (+70,000 VPD) and I-475 (+71,000 VPD).
The portfolio has over 4.8 years of weighted average lease term and reports more than 81% of gross income derived from credit and anchor tenancy. Since 2020, the portfolio has recorded over 45,200 square feet of new leases and over 83,300 square feet of renewals.
Key Highlights
- 543,378 SF open‑air shopping center portfolio in the Toledo MSA (Monroe Street retail corridor).
- 94% occupied portfolio with a tenant lineup including Target, Golf Galaxy, Marshalls, HomeGoods, Five Below, Bob’s Discount Furniture, Petsmart, and Hobby Lobby.
- Weighted average lease term over 4.8 years; over 81% of gross income from credit and anchor tenancy.
Property Analytics
Current Use
Lease Details
22,000 VPD
Traffic count
94%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
597
Businesses Nearby
249k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 57%
Dining 21%
Groceries 11%
Electronics 6%
Five Below
Shops & Services
53,725 visits/mo
0.5 miles
Hobby Lobby
Shops & Services
41,306 visits/mo
0.3 miles
Aldi
Groceries
28,410 visits/mo
0.3 miles
Sakura Japanese Restaurant
Dining
14,746 visits/mo
0.4 miles
Speedway
Shops & Services
14,447 visits/mo
0.1 miles
Demographics for 43623, OH
20,320
Population
10,056
Households
2
Avg Household Size
43
Median Age
31%
College-Educated
93%
High-School Grad
6.7 sq mi
ZIP Area
3,033
Density / Sq Mi
$65,908
Median Household Income
$40,496
Median Earnings
$933
Median Rent
$167,500
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Shopping center - Open-air shopping center portfolio with 94% occupancy and a tenant mix anchored by major national retailers.
Where is this shopping center located?
The property is located at 5223 Monroe St Toledo, OH.
What are key features of this property?
This property features: 543,378 SF open‑air shopping center portfolio in the Toledo MSA (Monroe Street retail corridor).; 94% occupied portfolio with a tenant lineup including Target, Golf Galaxy, Marshalls, HomeGoods, Five Below, Bob’s Discount Furniture, Petsmart, and Hobby Lobby.; Weighted average lease term over 4.8 years; over 81% of gross income from credit and anchor tenancy.
