2021 Reynolds Rd Toledo, OH 43614
- Retail properties
- 21,712 SF
- 1.92 lot acres
Current Use by Public Records
- Goodwill Toledo / Thrift Store
Property Details for 2021 Reynolds Rd
- Year built
- 1972
- Lot size
- 1.92 lot acres
- Property size
- 21,712 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a fee-simple ownership of a 21,712 square-foot retail storefront occupied by Goodwill Industries of Northwest Ohio. Located at 2021 S Reynolds Rd, Toledo, OH 43614, this property boasts a strong 8.00% cap rate and a substantial net operating income (NOI) of $151,256. The current lease, a double-net (NN) agreement with a corporate guarantee, commenced November 30, 1990, and expires November 29, 2028, leaving over four years remaining. The property sits on a 1.92-acre lot and includes a billboard generating additional income. Built in 1972, the single-story building underwent major renovations in 2018, and features a new roof installed in 2021 with a 20-year warranty. The property benefits from excellent visibility and high traffic counts on US-20, with over 32,600 vehicles passing daily. Its strategic location across from a new Amazon delivery station and within a densely populated area with high average household incomes ensures a robust consumer base. Numerous national retailers in the immediate vicinity further enhance the property's appeal and traffic flow. This is a rare opportunity to acquire a stable, high-performing retail investment with a long-term tenant and significant upside potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Toledo
- County
- Lucas
- State
- Ohio
- Longitude
- -83.6646
- Latitude
- 41.6031
