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Property profile & analytics
FOR LEASE
Grocery and convenience stores
1707 Cherry St Toledo, OH 43608
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US66-6130721
For Lease
$9.50 SF/Yr
1707 Cherry St, Toledo, OH 43608
View Listing →
Property summary
AI-generated overview
This exceptional 6,278 square foot retail space is ideally located at 1707 Cherry Street in Toledo, Ohio, 43608. Situated within the Seaway Marketplace, this single-tenant property boasts a high-traffic location, benefiting from the presence of a full-service grocery store and pharmacy attracting over 40,000 customers monthly. The space itself features recently finished walls (July 2024), providing a move-in ready condition for prospective tenants. Convenience is maximized with access to a shared rear loading dock and overhead door, streamlining operations and logistics. The property's strategic location offers excellent visibility and accessibility, further enhanced by its proximity to established businesses such as Popeyes and Mercy St. Vincent Hospital. This presents a unique opportunity for businesses seeking a thriving retail environment in a well-established commercial center. The property is currently available. The property type is retail, specifically a community center.
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
2001
Total area
56,472 SF
Lot
4.45 ac (193,733 SF)
Zoning code
10-CR
APN
03-55065
UPID
US66-6130721
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Premier Bank Bank Loan Service
-
seaway pharmacy Pharmacy
-
Seaway Market Place of Toledo Grocery & Convenience Store Food Market
-
MoneyGram Bank Credit Union
-
Boost Mobile Mobile Phone Store Electronics & Wireless Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.67M
Comparable Approach
Comparable
$6.81M
Blend (final)
Blend
$6.54M
Owner & transaction history
Second Cherry Street Group LLC · 10 yrs held
Second Cherry Street Group LLC
since 2016
7 recorded transactions
Zoning & alternative use
10-CR · Toledo, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$8.9M
+143.1%
Medical building
$4.2M
+14.1%
Auto repair, garage
$4.1M
+11.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Toledo submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Toledo submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$6,135,000
6.5%
$5,665,000
7%
$5,260,000
Alternative Use
Use
Estimation
RESTAURANT
$8,910,000
Change: +143% · Conversion: Easy
MEDICAL BUILDING
$4,185,000
Change: +14% · Conversion: Difficult
AUTO REPAIR, GARAGE
$4,075,000
Change: +11% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$3,980,000
Change: +9% · Conversion: Moderate
Blend value · Realmo final
$6.54M
Range $5.89M – $7.19M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$116 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$89,194
Tax year 2023
Assessed value
$916,125
Assessed 2023
Previous assessed
$916,125
+0.0% YoY
Effective rate
9.74%
On assessed value
Assessed land
$176,680
Assessed improvement
$739,445
Land market value
$504,800
Improvement market value
$2,112,700
Total market value
$2,617,500
Applied tax rate
3.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
For Lease
Year built
2001
Heating
NONE
Stories
2
Total area
56,472 SF
Lot
4.45 ac (193,733 SF)
Zoning code
10-CR
APN
03-55065
UPID
US66-6130721
Jurisdiction
LUCAS
Zoning & alternative use
10-CR · Toledo, OH
Zoning 10-CR · permitted uses
10-CR · Toledo, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Toledo. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$8.9M
MEDICAL BUILDING
Est. value
$4.2M
AUTO REPAIR, GARAGE
Est. value
$4.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.0M
RESTAURANT
MEDICAL BUILDING
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2001
Heating
NONE
Stories
2
Lot
4.45 ac
Current owner
From public records · entity-resolved
Second Cherry Street Group LLC
Entity
Mailing address
1707 CHERRY ST, TOLEDO, OH 43608-2857
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 8, 2019
—
Second Cherry Street Group LLC
—
Deed
related
$2,000,000 · First Fed'l Bk/the Midwest
Dec 6, 2016
—
Second Cherry Street Group LLC
—
Deed
related
$2,300,000 · Hantz Bk
May 6, 2016
$2,500,000
Second Cherry Street Group LLC
1707 Cherry Street Holdings LLC
Limited Warranty Deed
$2,450,000 · Hantzbank
Sep 5, 2013
$2,800,000
1707 Cherry Street Holdings
Sheriff Of Lucas County
Trustees Deed
related
—
May 12, 2004
$70,000
Farmersjack Cherry Street LLC
Cherry Street Center LLC
Grant Deed
related
—
Jul 18, 2003
—
Cherry Centers LLC
Regency Realty Group INC
Grant Deed
$5,700,000 · J P Morgan Chase Bank
—
—
Second Cherry Street Group LLC
—
Deed Of Trust
related
$2,000,000 · First Fed'l Bk/the Midwest
—
—
Second Cherry Street Group LLC
—
Loan Modification
related
$2,300,000 · Hantz Bk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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