Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    509 Broadway St Toledo, OH 43604-8807

    • Turn key restaurants
    • 1,134 SF
    • 0.17 lot acres
    OFF-MARKET
    Value Estimations
    $265,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2473655
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Green Lantern Lunch / Fast Food Restaurant / Takeout Restaurant

    Property Details for 509 Broadway St

    Year built
    1943
    Lot size
    0.17 lot acres
    Property size
    1,134 SF
    Zone code
    10-IL
    Property type
    Turn key restaurants
    APN
    11-59684
    APU
    1159684

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $230,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $300,000
      Market price range: $45.8k - $301k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Toledo
    County
    Lucas
    State
    Ohio
    Longitude
    -83.5441
    Latitude
    41.6391
    CBSA code
    45780
    CBSA name
    TOLEDO, OH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $2,260
    $5,355
    $10,430
    $15,785
    -
    $15,300
    $29,800
    $45,100

    Comparable in this City

    • Value Estimation
      $225,000
      0.10 Acres

      20 Saint Clair St

      RESTAURANT • 0.10 Acres
      20 Saint Clair St, Toledo, OH 43604
      View Details
    • Value Estimation
      $300,000
      16,644 SF

      602 Lagrange St

      RESTAURANT • 16,644 SF
      602 Lagrange St, Toledo, OH 43604-1752
      View Details
    • Value Estimation
      $255,000
      7,845 SF

      413 Madison Ave

      RESTAURANT • 7,845 SF
      413 Madison Ave, Toledo, OH 43604-1229
      View Details
    • Value Estimation
      $235,000
      0.25 Acres

      126 Broadway St

      RESTAURANT • 0.25 Acres
      126 Broadway St, Toledo, OH 43604-8704
      View Details
    • Value Estimation
      $400,000
      10,680 SF

      1815 Adams St

      RESTAURANT • 10,680 SF
      1815 Adams St, Toledo, OH 43604
      View Details
    • Value Estimation
      $240,000
      2,100 SF

      1039 Smt St

      RESTAURANT • 2,100 SF
      1039 Smt St, Toledo, OH 43604-1813
      View Details

    Similar Nearby for Sale

    • $1,950,000
      12,240 SF

      Historic Building in Downtown Toledo

      Prime retail/restaurant opportunity in a vibrant downtown location.
      519 Monroe St, Toledo, OH 43604
      View Details
    • $1,449,000
      10,424 SF

      Prime Location Retail Opportunity

      Highly visible retail property with drive-thru and great access.
      551 Dorr St, Toledo, OH 43604
      View Details
    • $556,480
      8,258 SF

      Two-Story Building for Retail/Restaurant

      Two-story building suitable for retail or restaurant use.
      1919 Monroe St, Toledo, OH 43604
      View Details
    • $549,500
      6,320 SF

      Retail Property in Toledo, OH

      Retail property available for sale in Toledo, Ohio.
      329 N Huron St, Toledo, OH 43604
      View Details
    • Contact for pricing
      186,883 SF

      Franklin Park Mall Department Store

      Two-story, 186,883 SF department store attached to Franklin Park Mall.
      5001 Monroe St, Toledo, OH 43604
      View Details
    • $4,950,000
      61,893 SF

      Downtown Toledo Office Building

      Seven-story office building with on-site parking in Downtown Toledo.
      1933 Spielbusch Ave, Toledo, OH 43604
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      5,220 SF

      Downtown Toledo Restaurant/Nightclub Space Available

      Turnkey restaurant and former nightclub space in Downtown Toledo.
      319-321 N Superior St, Toledo, OH 43604
      View Details
    • $7 SF/Yr
      5,700 SF

      Turnkey Restaurant in Downtown Toledo

      Turnkey restaurant with equipment in place, ready for business.
      614 Adams St, Toledo, OH 43604
      View Details
    • $9 SF/Yr
      60,269 SF

      Historic Toledo Office Building

      Prime Downtown Toledo Office Space
      151 Michigan St, Toledo, OH 43604
      View Details
    • $12 SF/Yr
      12,000 SF

      Downtown Toledo Restaurant Space

      Prime location, high-traffic area, 12,000 sq ft.
      505 Jefferson Ave, Toledo, OH 43604
      View Details
    • $20 SF/Yr
      183,000 SF

      Downtown Toledo Bar/Restaurant Space

      Bar/Restaurant space in downtown Toledo, near Fifth Third Field.
      1 S Erie St, Toledo, OH 43604
      View Details
    • $18 SF/Yr
      28,900 SF

      Downtown Toledo Mixed-Use Gem

      Prime location, high-end lofts, retail space.
      144 Huron St, Toledo, OH 43604
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    509 Broadway St
    Toledo, OH 43604-8807
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.