5395 Monroe St Toledo, OH 43623
For Lease
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This 3,972 square foot former Steak 'n Shake restaurant presents a unique turnkey opportunity for restaurateurs in Toledo, Ohio. The property boasts a prime location on Monroe Street, a premier retail corridor, just one mile west of the expansive Franklin Park Mall (over 1,500,000 square feet). The building is currently vacant and features a fully equipped and furnished interior, ready for immediate occupancy. The restaurant's design includes seating for 88 patrons and a convenient drive-thru lane, catering to diverse customer preferences. Ample parking is available with 65 paved spaces, ensuring convenient access for diners. Excellent visibility is guaranteed with a large pylon sign at street level, enhancing brand recognition. Access is easy, facilitated by two curb cuts. The location benefits from strong demographics, with a population of 182,737 within a 5-mile radius, and high traffic counts of 26,756 vehicles per day. This property offers a compelling combination of location, existing infrastructure, and high visibility, making it an ideal investment for a new or expanding restaurant business. The property is located at 5395 Monroe St, Toledo, OH 43623.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
20-MX · Toledo, OHToledo. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.