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

    524 Main St Toledo, OH 43605

    • Drive through restaurants
    • 2,371 SF
    • 0.11 lot acres
    For Sale
    View listing
    $139,000
    Last Sale
    Mar 12, 2025
    $134,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2111815
    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

    • Drive through restaurants

    Property Details for 524 Main St

    Year built
    1956
    Lot size
    0.11 lot acres
    Property size
    2,371 SF
    Zone code
    10-CS
    Property type
    Drive through restaurants
    APN
    17-03027
    APU
    1703027

    Description

    This exceptional commercial property, located at 524 Main Street, Unit 524, in the heart of downtown Toledo, Ohio, presents a unique investment opportunity. Currently configured as a pizza restaurant, this turnkey operation is being offered via online auction with a minimum bid of $139,000. The auction concludes Friday, February 14th at 1 PM. The property boasts a prime Main Street location within a high-traffic area, benefiting from a well-established local customer base. All existing equipment is included in the sale, providing a seamless transition for a new owner. This includes pizza ovens, walk-in coolers, and various fixtures. The building itself features a spacious dining area and a convenient carryout section. The property sits on a 0.11-acre lot and includes a large parking lot, a significant advantage in a busy downtown setting. Its zoning allows for a variety of commercial uses, opening doors to numerous possibilities beyond its current configuration. The property's proximity to the New Glass City Park, The Docks, and other waterfront businesses further enhances its appeal and potential for success. A buyer's premium of 10% applies. An open house is scheduled for February 8th from noon to 2 PM, offering a chance to view this promising property firsthand.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $120,000
      ML approach
      $105,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Toledo
    County
    Lucas
    State
    Ohio
    Longitude
    -83.5198
    Latitude
    41.6447
    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
    $5,051
    $1,540
    $49,490
    $51,030
    -
    $4,400
    $141,400
    $145,800

    Comparable in this City

    • Value Estimation
      $205,000
      0.09 Acres

      649 Woodville Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 0.09 Acres
      649 Woodville Rd, Toledo, OH 43605-2647
      View Details
    • Value Estimation
      $335,000
      3,438 SF

      802 Frnt St

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,438 SF
      802 Frnt St, Toledo, OH 43605-2109
      View Details
    • Value Estimation
      $225,000
      0.08 Acres

      802 Frnt St

      DRIVE-THRU RESTAURANT, FAST FOOD • 0.08 Acres
      802 Frnt St, Toledo, OH 43605-2109
      View Details
    • Value Estimation
      $230,000
      1,728 SF

      145 Main St

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,728 SF
      145 Main St, Toledo, OH 43605
      View Details
    • Value Estimation
      $180,000
      664 SF

      624 Frnt St

      DRIVE-THRU RESTAURANT, FAST FOOD • 664 SF
      624 Frnt St, Toledo, OH 43605
      View Details
    • Value Estimation
      $300,000
      2,808 SF

      716 Frnt St

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,808 SF
      716 Frnt St, Toledo, OH 43605
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      29,000 SF

      Oregon Redevelopment Opportunity

      Prime 4.25-acre lot, 3 buildings
      2195 Navarre Ave, Oregon, OH 43605
      View Details
    • $750,000
      30,000 SF

      Retail Property on Main St

      Retail property available for sale on Main St, Toledo.
      130-148 Main St, Toledo, OH 43605
      View Details
    • $279,000
      7,538 SF

      Multi-Tenant Asset on Starr Avenue

      Two-story multi-tenant asset with on-site parking.
      923 Starr Ave, Toledo, OH 43605
      View Details
    • $299,000
      7,538 SF

      Toledo Storefront: Prime Retail Opportunity

      High-traffic location, 7,538 SF, $299,000
      923 Starr Ave, Toledo, OH 43605
      View Details
    • $529,000
      0.08 Acres

      Toledo Mixed-Use Investment Opportunity

      High-Yield, 12-Unit Property in Toledo
      601 Main St, Toledo, OH 43605
      View Details
    • Contact for pricing

      Land with Excellent I-75 Visibility

      Commercial land with high visibility and easy highway access.
      Oregon Rd, Northwood, OH 43605
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      15,000 SF

      Toledo Waterfront Retail Spaces

      Iconic riverfront restaurant complex, spaces available
      26 Main St, Toledo, OH 43605
      View Details
    • $14 SF/Yr
      1,125 SF

      Retail/Medical Space on Navarre Avenue

      Retail or medical space with high traffic and pylon signage.
      3165 Navarre Ave, Oregon, OH 43605
      View Details
    • $7 SF/Yr
      2,970 SF

      Freestanding Flex Space with Showroom

      Freestanding flex space with showroom, restroom, and high ceilings.
      2295 Starr Ave, Toledo, OH 43605
      View Details
    • $0.83 SF/Yr

      Industrial Outdoor Storage Land Available

      Industrial outdoor storage land for rent with security features.
      1815 Genesee St, Toledo, OH 43605
      View Details
    • $875 /Mo

      Three-Bedroom Upper Unit Duplex

      Upper unit duplex featuring hardwood floors and included appliances.
      1920 Greenwood Ave, Toledo, OH 43605
      View Details
    • Contact for pricing

      Navarre Ave Commercial Land Lease

      Commercial land for ground lease or build-to-suit in Oregon, OH.
      3030 Navarre Ave, Oregon, OH 43605
      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.
    524 Main St
    Toledo, OH 43605
    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.