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    520 - 640 Plaza Drive Fostoria, OH 44830

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    For Lease
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    Neighborhood shopping center with redevelopment potential and flexible leasing terms.

    Type:Retail, Office, Restaurant
    Property size:
    167,000 SF
    Added:
    May 29, 2020
    Days on Market:
    2150
    Last Refresh:
    Mar 17 at 1:16 pm

    Property Features for 520 - 640 Plaza Drive

    General Information

    Standard status
    Active
    Size
    167,000 SF
    Property subtype
    Retail, Office, Restaurant

    Spaces For Lease

    at 520 - 640 Plaza Drive Contact us

    520 (Endcap) $2.00 /Mo

    Size
    900 SF
    Type
    Retail, Office
    Contact us

    526 $2.00 /Mo

    Size
    2,957 SF
    Type
    Retail, Office
    Contact us

    536 $2.00 /Mo

    Size
    4,914 SF
    Type
    Retail, Office
    Contact us

    640 (Salon Endcap) $5 /Mo

    Size
    1,325 SF
    Type
    Retail, Office
    Former Nail Salon. Virtual Tour here: https://youriguide.com/vC6IYOH01HBSB1
    Contact us

    560 (Endcap) $2.00 /Mo

    Size
    Type
    Retail, Office
    shares a common loading dock
    Contact us

    620 (Freestanding) $2.00 /Mo

    Size
    52,571 SF
    Type
    Retail, Office
    Freestanding building, former KMart
    Contact us

    544 $2.00 /Mo

    Size
    3,055 SF
    Type
    Retail, Office
    Contact us

    546 $2.00 /Mo

    Size
    21,792 SF
    Type
    Retail, Office
    shares a common loading dock
    Contact us

    550 $2.00 /Mo

    Size
    8,378 SF
    Type
    Retail, Office
    shares a common loading dock
    Contact us
    Show more

    We can help!

    Listing Contact
    Chase Parten

    Listing agent Chase Parten License #TX 807177

    Listing office Woodcrest Capital

    Listing date May 29, 2020

    Source Crexi

    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 Woodcrest Capital

    Overview

    Fostoria Plaza Retail Opportunity

    Fostoria Plaza is a neighborhood shopping center with approximately 167,000 square feet of space. Located off of US 23 in Fostoria, Wood County, Ohio, the property is anchored by Rent-A-Center. The property was recently acquired by Woodcrest and is slated for redevelopment. Commercial suites are available for rent, suitable for retail storefronts, restaurants, offices, medical facilities, or other professional service providers. Woodcrest Capital welcomes first-time and franchise businesses, offering easy-to-read leases and flexible terms. Woodcrest also caters to national credit tenants. With over 40 years in commercial real estate, Woodcrest owns and operates various properties, from Class A centers to centers undergoing rehabilitation. Multiple retail opportunities may be available in the immediate area.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fostoria
    County
    Seneca
    State
    Ohio
    Longitude
    -83.4213833
    Latitude
    41.1795509

    Nearby Similar for Lease

    • Contact for pricing

      Professional Office Space Available

      Highly professional office space suitable for various uses.
      1650 N County Line St, Fostoria, OH 44830
      View Details
    • Contact for pricing

      Fostoria Plaza Retail Space

      Neighborhood shopping center with redevelopment potential in Fostoria, Ohio.
      610-640 Plaza Dr, Fostoria, OH
      View Details
    • Contact for pricing

      Fostoria Plaza Retail Opportunity

      Neighborhood shopping center in Fostoria, Ohio, with redevelopment potential.
      620 Plaza Dr, Fostoria, OH
      View Details
    • Contact for pricing

      Fostoria Plaza Retail Opportunity

      167,241 SF shopping center in Fostoria, Ohio.
      520-560 Plaza Dr, Fostoria, OH
      View Details

    FAQs

    What type of property is this?
    Shopping center - Neighborhood shopping center with redevelopment potential and flexible leasing terms.
    Where is this shopping center located?
    The property is located at 520 - 640 Plaza Drive Fostoria, OH.
    What are key features of this property?
    This property features: Slated for redevelopment by Woodcrest, suggesting potential upgrades and improvements.; Flexible lease terms available, appealing to a variety of businesses.; Suites suitable for diverse uses: retail, restaurants, offices, medical/professional services.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Chase Parten
    Real Estate License ID: TX 807177
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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