4701 Talmadge Rd Toledo, OH 43623-3008

Property Details for 4701 Talmadge Rd

Year built

1984

Lot size

7.16 lot acres

Property size

59,546 SF

Zone code

10-CRSO

Property type

Strip malls

Property subtype

Shopping centers

APN

24-00303

APU

2400303

Description

This exceptional investment opportunity presents a 61,139-square-foot, 95% occupied retail shopping center in Toledo, Ohio. Located at 4701 Talmadge Rd, this two-story, single-building property boasts nine tenants operating under triple-net (NNN) leases, offering a strong, diversified income stream. The property, built in 1984 and renovated in 2022, sits on a 7.16-acre lot and benefits from a prime location adjacent to Franklin Park Mall, a major regional shopping center. The property enjoys excellent visibility and accessibility, situated at the corner of Talmadge Avenue and Monroe Street, two high-traffic roads providing easy access to Interstates 475 and US-23. The area features a robust retail market with over 17.8 million square feet of retail space within a five-mile radius and a significant healthcare market, with several major hospitals nearby. The University of Toledo, with over 13,950 students, is also within a short distance. The current asking price is $5,500,000, representing a compelling cap rate of 8.04% and a price per square foot of $89.96. The property's strong occupancy rate, long-term leases (with 81.5% of tenancy leased through 2030 and beyond), and strategic location make it an attractive investment for discerning buyers. The property's Net Operating Income (NOI) is $442,170. Lease terms and rent bumps are available upon request. The property is zoned for commercial use and is offered fee simple. This is a value-add investment opportunity with significant potential for future growth.

Location Insight

City

Toledo

County

Lucas

State

Ohio

Longitude

-83.6465

Latitude

41.7019

CBSA code

45780

CBSA name

TOLEDO, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments