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    4580 Monroe St Toledo, OH 43613

    Sponsored
    For Sale
    $5,783,000

    High-yield Walgreens NNN lease, Ohio.

    Property size:
    13,620 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a fee-simple, 13,620 square foot Walgreens located at 4580 Monroe St, Toledo, OH 43613. The property boasts a strong 7.75% cap rate, generating a net operating income (NOI) of $448,176. This strategically positioned convenience store, grocery store, and pharmacy is situated on a highly visible 1.6-acre corner lot at a signalized intersection with over 60,000 vehicles per day. The property benefits from an absolute NNN lease with a corporate guarantee from Walgreens, a Fortune 500 company with an S&P credit rating of BBB. The lease has approximately three years remaining, followed by ten and five-year option periods. Walgreens is responsible for all expenses, including taxes, insurance, and maintenance. The location has a long-term operating history of over 20 years, demonstrating the tenant's commitment. This prime retail space is near numerous medical facilities, creating a consistent customer base. The asking price is $5,783,000, translating to $424.60 per square foot. The 100% occupancy ensures a stable and reliable income stream. This is a rare opportunity to acquire a high-performing, low-maintenance investment property in a thriving Toledo location.

    Property Features for 4580 Monroe St

    General Information

    Property type
    Individual retail properties
    Square Feet
    13,620 SF

    HighLights

    • $5,783,000 asking price for a Walgreens‑occupied retail property.
    • 13,620 square feet on a 1.6‑acre lot, with a price per square foot of $424.60.
    • Net lease (NNN) with a corporate guarantee from Walgreens, a Fortune 500 company.
    • 7.75% cap rate, with a net operating income (NOI) of $448,176.
    • Located in Toledo, OH, at a high‑traffic, signalized intersection with over 60,000 vehicles per day.
    • Three years remaining on the lease, with ten (10) five (5)-year option periods.
    Property Profile Location Intelligence

    Current Use by Public Records

    Walgreens Photo Passport Photo Processor Sandra Glasson, RPH Pharmacy Walgreens Pharmacy Pharmacy Heather R. Eid, ... Pharmacy COVID-19 Drive-Thru Testing ... Pharmacy

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Toledo
    County
    Lucas
    State
    Ohio
    Longitude
    -83.6224567
    Latitude
    41.6898213

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    FAQs

    What type of property is this?
    Individual retail property - High-yield Walgreens NNN lease, Ohio.
    Where is this individual retail property located?
    The property is located at 4580 Monroe St Toledo, OH.
    What is the asking price?
    The asking price for this property is $5,783,000.
    What are key features of this property?
    This property features: $5,783,000 asking price for a Walgreens-occupied retail property.; 13,620 square feet on a 1.6-acre lot, with a price per square foot of $424.60.; Net lease (NNN) with a corporate guarantee from Walgreens, a Fortune 500 company.
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    Realmo Value Estimation

    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.

    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.

    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
    4580 Monroe St Toledo, OH 43613
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