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    8310 Sylvania-Metamora Rd Sylvania, OH 43560

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    14,564 SF Vacant Rite Aid Building

    Property Features for 8310 Sylvania-Metamora Rd

    General Information

    Property type
    Drug stores
    Lot Size
    111,514 SF

    Building Details

    Year Built
    2007
    Buildings
    1
    Stories
    1
    Units
    1

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    Listing Contact
    Barry Silver
    Barry Silver

    Listing Agency: The Silver Group Listing Agent: Barry Silver

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional retail property presents a unique investment opportunity. Located in Sylvania, Ohio, at the intersection of Sylvania-Metamora Road and Centennial Road, this former Rite Aid drugstore offers 14,564 square feet of space in a freestanding building on a sizable 2.56-acre lot. Built in 2007, the single-story structure features a convenient drive-through window. The property is currently vacant, having been occupied by Rite Aid for seventeen years until its recent closure. The site benefits from a high-traffic location, sharing the intersection with established businesses such as Metamora State Bank, S&G/Sunoco, and Centennial Terrace. Sylvania, a northwest suburb of Toledo, boasts a population of approximately 20,000 residents and is part of the Toledo MSA, with a population of 509,000. This prime location, situated in a predominantly residential area with limited drugstore competition, offers significant potential for a variety of retail uses, including grocery, general retail, home goods, childcare, or a convenience store/car wash. The property is available for sale or lease, offering a flexible investment option with a corporate guaranteed lease history. The absolute NNN lease structure provides a low-maintenance investment opportunity. This is a rare chance to acquire a well-located, substantial retail building in a thriving community.
    Property Profile Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Sylvania
    County
    Lucas
    State
    Ohio
    Longitude
    -83.74463441995
    Latitude
    41.717131092039

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    FAQs

    What type of property is this?
    Drug store - 14,564 SF Vacant Rite Aid Building
    Where is this drug store located?
    The property is located at 8310 Sylvania-Metamora Rd Sylvania, OH.
    What are key features of this property?
    This property features: Former Rite Aid pharmacy, 14,564 SF, vacant and available for sale or lease.; 14,564 SF building with drive-through window on a 2.56-acre corner lot.; Located at the high-traffic intersection of Sylvania-Metamora Rd and Centennial Rd in Sylvania, OH.
    (415) 461-0600 Call to check price and availability
    Request Owner's contact information
    8310 Sylvania-Metamora Rd Sylvania, OH 43560
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    Sylvania, OH 43560
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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
    8310 Sylvania-Metamora Rd Sylvania, OH 43560
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Barry Silver
    Barry Silver
    Real Estate License ID: 00909347
    (415) 461-0600
    Learn more
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