4580 Monroe St Toledo, OH 43613

Property Details for 4580 Monroe St

Year built

2001

Lot size

0.19 lot acres

Property size

13,272 SF

Zone code

10-CR

Property type

Outlet malls

APN

22-37504

APU

2237504

Description

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.