Turnkey Auto Shop
For Sale
Contact for pricing
5310 Airport Highway, Toledo, OH 43615
Auto shop near busy intersection, ideal for owner-operator or investor.
Property Size4,712 SF
Price / SF$74.28
Days on Market190
Property Features for 5310 Airport Highway
General Information
Standard status
Active
Size
4,712 SF
Total Parking Spaces
27
Property subtype
Business for Sale
Zoning
10-CR
Investment Type
Owner/User
Building Details
Year Built
1989
Year Renovated
2024
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
NAI Harmon Group
(419) 960-4410
Listed By:
Joshua D. Payzant · License #OH SAL.2016003142
Source:
Crexi
Added: Feb 3
Changed: Aug 10
Last Checked: Aug 12 at 8:31AM
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 NAI Harmon Group
Investment Insights
Based on property information with market context.
This turnkey auto shop presents an opportunity for an owner-operator, multi-shop operator, or investor. The property is located near the intersection of Airport Highway and Reynolds Road, and is minutes from Interstate 475. Neighboring businesses include a transmission repair shop, Starbucks Coffee, and Pet Supplies Plus. The Airport Square shopping center is located across the street. The property size is 4712 square feet. Financial information will be available upon execution of a non-disclosure agreement.
Key Highlights
- Turnkey opportunity for immediate operation.
- High‑traffic location near Airport Highway and Reynolds Rd.
- Proximity to Interstate 475.
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
$30,721
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
8.78%
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%
$614,420
$614.4K
Cap Rate 7%
$438,871
$438.9K
Cap Rate 9%
$341,344
$341.3K
Market Conditions
NOI Build-Up for 4,712 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
$47.5K $10.08/SF
− Vacancy
−$3.6K −$0.77/SF
EGI
$43.9K $9.31/SF
− OpEx
−$13.2K −$2.79/SF
NOI
$30.7K $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%
$614,420
Cap Rate 7%
$438,871
Cap Rate 9%
$341,344
Alternative Uses
Best Use
Retail
$438.9K
$384.0K – $512.0K
NOI $30,721 @ 7.0% cap · market cap 8.78%
Second Best
Industrial
$408.3K
$357.3K – $476.4K
NOI $28,584 @ 7.0% cap · market cap 8.17%
Theoretical Best
Office A
$784.2K
$686.2K – $914.9K
NOI $54,893 @ 7.0% cap · market cap 15.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
725
Businesses Nearby
60k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 58%
Dining 42%
Circle K
Shops & Services
24,019 visits/mo
0.1 miles
Taco Bell
Dining
14,204 visits/mo
0.1 miles
Dunkin' Donuts
Dining
11,457 visits/mo
0.2 miles
Shell
Shops & Services
10,771 visits/mo
0.1 miles
Demographics for 43615, OH
39,449
Population
19,620
Households
2
Avg Household Size
40
Median Age
28%
College-Educated
93%
High-School Grad
16.5 sq mi
ZIP Area
2,391
Density / Sq Mi
$58,466
Median Household Income
$38,196
Median Earnings
$1,014
Median Rent
$137,300
Median Home Value
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
- Aaa Transmission — 5242 airport hwy, toledo, oh 43615
- Valvoline Instant Oil Change — 5165 Airport Hwy, Toledo, OH 43615
- Tuffy Tire & Auto Service Center — 5310 Airport Hwy, Toledo, OH 43615
- Best Transmission and Auto Repair — 5250 Airport Hwy, Toledo, OH 43615
- AAA Toledo Auto Repair — 5606 Airport Hwy, Toledo, OH 43615
Frequently Asked Questions
What type of property is this?
Auto shop - Auto shop near busy intersection, ideal for owner-operator or investor.
Where is this auto shop located?
The property is located at 5310 Airport Highway Toledo, OH.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Turnkey opportunity for immediate operation.; High‑traffic location near Airport Highway and Reynolds Rd.; Proximity to Interstate 475.
