Corner Lot Building For
For Sale
$295,000
7651 Central Avenue, Toledo, OH 43617
1,690 SF building on 1.38 acre corner lot.
Property Size1,690 SF
Lot Size1.38 Acres
Price / SF$174.56
Days on Market160
Property Features for 7651 Central Avenue
General Information
Standard status
Active
Size
1,690 SF
Lot size
1.38 Acres
Property subtype
Land
Listing Agency:
Miller Diversified Brokerage
Listed By:
Chris Murphy · License #SAL.2022006382
(803) 477-2809
Source:
Millerdiversified
Added: May 14
Changed: Oct 8
Last Checked: Oct 20 at 7:20PM
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 Miller Diversified Brokerage
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
A 1,690 square foot building is available for sale on a 1.38 acre lot. The property is situated on a corner lot of Central Avenue, a busy four-lane highway with a center turn lane. Currently zoned residential, it falls within the Central Avenue Overlay District (20-MX), which permits a variety of residential and commercial uses. The location is 1.5 miles east of the I-475 entrance.
Key Highlights
- 1.38 acre corner lot on Central Ave
- Located in Central Avenue Overlay District (20‑MX) allowing for a variety of residential and commercial uses
- 1,690 SF building included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,381
Cap Rate
5.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$307,620
$307.6K
Cap Rate 7%
$219,729
$219.7K
Cap Rate 9%
$170,900
$170.9K
Market Conditions
NOI Build-Up for 1,690 SF
Gross rent
$25.4K $15.00/SF
− Vacancy
−$4.8K −$2.87/SF
EGI
$20.5K $12.14/SF
− OpEx
−$5.1K −$3.03/SF
NOI
$15.4K $9.10/SF
Area
Toledo, OH
Vacancy
19.10%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$307,620
Cap Rate 7%
$219,729
Cap Rate 9%
$170,900
Alternative Uses
Best Use
Office B
$219.7K
$192.3K – $256.4K
NOI $15,381 @ 7.0% cap · market cap 5.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$281.3K
$246.1K – $328.1K
NOI $19,688 @ 7.0% cap · market cap 6.67%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
371
Businesses Nearby
Explore this area
Business Placement
Demographics for 43617, OH
7,659
Population
3,248
Households
2.4
Avg Household Size
44
Median Age
51%
College-Educated
97%
High-School Grad
5.2 sq mi
ZIP Area
1,473
Density / Sq Mi
$131,935
Median Household Income
$61,927
Median Earnings
$1,145
Median Rent
$271,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - 1,690 SF building on 1.38 acre corner lot.
Where is this office building located?
The property is located at 7651 Central Avenue Toledo, OH.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: 1.38 acre corner lot on Central Ave; Located in Central Avenue Overlay District (20‑MX) allowing for a variety of residential and commercial uses; 1,690 SF building included
