3111 Navarre Ave Oregon, OH 43616-3309

Property Details for 3111 Navarre Ave

Year built

1976

Lot size

0.46 lot acres

Property size

2,969 SF

Zone code

40-C2

Property type

Turn key restaurants

APN

44-20645

APU

4420645

Description

This exceptional investment opportunity presents a fee-simple ownership of a thriving Mexican restaurant in Oregon, Ohio. The property, totaling 2,120 square feet, sits on a 0.46-acre lot and is situated at 3111 Navarre Ave, a main retail corridor with high visibility (27,273 vehicles per day). The single-tenant building, constructed in 1976, operates under a new 5-year triple-net (NNN) lease commencing July 1, 2024, and expiring June 30, 2029, leaving 4.6 years remaining. The lease includes a personal guarantee, offering added security for the investor. The property boasts a 9.50% cap rate and a strong net operating income (NOI) of $62,400, with an asking price of $656,850 ($309.83 per square foot). Its strategic location is adjacent to Mercy Health St. Charles Hospital (a 342-bed general hospital) and within 2.5 miles of ProMedica Bay Park Hospital. The area features a robust retail environment, including nearby Kroger, Walmart, Aldi, and other major retailers. The property is zoned for commercial use and benefits from its proximity to major roadways, including OH-2/Navarre Ave and Interstate-280, providing excellent access to Toledo, Ohio's fourth-largest city and a significant Midwestern port. The property's strong tenant, excellent location, and favorable lease terms make this a compelling investment prospect. The Lucas County location offers a strong daytime population of 124,946 within a five-mile radius, further enhancing the investment potential. The property's APN is 4420645.