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5395 Monroe St, Toledo, OH 43623
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Property summary
AI-generated overview
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.
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1999
Total area
3,720 SF
Lot
1.26 ac (55,013 SF)
Zoning code
20-MX
APN
78-51121
UPID
US66-0251393
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$602k
Blend (final)
Blend
$560k
Owner & transaction history
since 2025
Last sale
$775,000
2 recorded transactions
Zoning & alternative use
20-MX · Toledo, OH
Top alternative use upside
Office building
$890,000
+51.9%
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
3 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$560k
Value range
$504k – $616k
±10% around blend
Estimated value / SF
$151 / SF
Confidence
Property data
100
Market benchmarks
67
Comparable evidence
60
$504k
blend $560k
$616k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
3,720 SF
Lot area
1.26 ac
Year built
1999
Stories
1
APN
78-51121
Zoning
20-MX
Assessed value
$228,060
Annual tax
$23,734
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$602k
Range $150k – $986k
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$560k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 76 sales
$158
-5%
County 90 sales
$144
+5%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $151/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Office Building
Gross theoretical uplift
+52%
vs current-use indication
Restaurant · current use
Retail Stores
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
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Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$775k
Move the market yield to see immediate price impact.
Value / SF
$208
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$49k
$977k
$697k
$543k
$54k
$1.09M
$775k
$603k
$60k
$1.19M
$852k
$663k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$23,734
Tax year 2023
Assessed value
$228,060
Assessed 2023
Previous assessed
$228,060
+0.0% YoY
Effective rate
10.41%
On assessed value
Assessed land
$56,035
Assessed improvement
$172,025
Land market value
$160,100
Improvement market value
$491,500
Total market value
$651,600
Applied tax rate
78.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Turn key restaurants
Use group
RESTAURANT
Status
For Lease
Year built
1999
Heating
NONE
Stories
1
Total area
3,720 SF
Lot
1.26 ac (55,013 SF)
Zoning code
20-MX
APN
78-51121
UPID
US66-0251393
Jurisdiction
LUCAS
Zoning & alternative use
20-MX · Toledo, OHZoning 20-MX · permitted uses
20-MX · Toledo, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1999
Heating
NONE
Stories
1
Lot
1.26 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
20-MX
Jurisdiction
Toledo, OH
Recorded code
20-MX
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for 20-MX in Toledo, OH.
What opens after registration
Zoning profile
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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