6633 Dorr St Toledo, OH 43615-4205

Property Details for 6633 Dorr St

Lot size

8.62 lot acres

Zone code

19-C2

Property type

Commercial land

APN

65-46151

APU

6546151

Description

This exceptional investment opportunity presents a 6,139 square foot Sheetz convenience store and gas station situated on a 5.08-acre lot at 6633 Dorr St, Toledo, OH 43615. Built in 2024, this property boasts a 15-year absolute NNN ground lease commencing September 15, 2024, and expiring September 30, 2039. The lease includes a corporate guarantee from Sheetz, one of the largest privately owned convenience store chains in the U.S., ensuring consistent rental income. The asking price is $3,419,000, representing a 5.50% cap rate with a current NOI of $188,000. Rent increases are structured with a 5% bump in the primary term and a 10% increase in option periods. This high-visibility location benefits from its proximity to major thoroughfares, including the intersection of Dorr Street and McCord Road (23,386 vehicles per day) and Interstate 475 (91,776 AADT). The property is strategically positioned within a dense retail corridor alongside national brands like Walmart, Sam's Club, and Costco, and is also near several large apartment complexes totaling over 800 units, and the Toledo Botanical Garden (120,000 annual visitors). The average household income within a five-mile radius is $96,845, projected to increase by over 14% by 2029. This property is ideal for 1031 exchange investors seeking a passive income stream with significant upside potential. The property's location at the confluence of Cleveland, Detroit, and Fort Wayne ensures consistent high traffic volume.

Location Insight

City

Toledo

County

Lucas

State

Ohio

Longitude

-83.6994

Latitude

41.6519

CBSA code

45780

CBSA name

TOLEDO, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments