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Save-A-Lot & Family Dollar 1703 Airport Hwy 28,237 SF 100% Leased Retail Building Toledo, OH 43609 $2,500,000 ($88.54/SF) 7.88% Cap Rate

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Investment Highlights

  • Minimal Landlord Responsibilites
  • Corporate Lease
  • Recession Resistant Tenant
  • Strategic Retail Location
  • Strong Real Estate Fundamentals
  • Strong Demographics

Executive Summary

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase Toledo Center, a multi-tenant retail investment property with Save-A-Lot and Family Dollar tenants, located at 1703 Airport Highway in Toledo, OH (the “Property”). Family Dollar has over 3 years remaining on their original lease with one (1) 5-year option. Save-A-Lot has been at this location since 2004 and has 2 months remaining on their original lease. Save-A-Lot occupies 18,109 square feet of the retail center, approximately 64% of total gross living area, while Family Dollar occupies 10,128 square feet of the retail center, approximately 36% of the gross living area. The Property is situated upon a 2.79-acre lot. The Property is located along one of Toledo’s primary commercial corridors, offering strong visibility and convenient access within a well-established Lucas County retail market. The Property is positioned along Airport Highway (U.S. Route 20), a heavily trafficked arterial, and is in close proximity to complementary national and local retailers, service-oriented businesses, and dining options that generate consistent daily traffic. Surrounded by dense residential neighborhoods and nearby employment centers, the site benefits from a stable and diverse customer base. The Property provides efficient access to U.S. Route 20 and Interstate 475, with Interstate 75 located nearby, allowing for direct connectivity throughout the Toledo metropolitan area and the broader Northwest Ohio region.

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Department Store
Building Size
28,237 SF
Building Class
C
Year Built
1960
Price
$2,500,000
Price Per SF
$88.54
Cap Rate
7.88%
NOI
$197,066
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.23
Lot Size
2.79 AC
Zoning
CR - CR - Regional Commercial
Frontage
322’ on Airport Hwy

Amenities

  • Pylon Sign

Major Tenants

  • Tenant
  • Industry
  • SF Occupied
  • Rent/SF
  • Lease End
  • Retailer
  • -
  • -
  • -

Family Dollar is a national discount retail chain headquartered in Chesapeake, Virginia, operating as a subsidiary of Dollar Tree since 2015. The company provides affordable everyday merchandise including household goods, groceries, cleaning supplies, apparel, health and beauty products, and seasonal items. Originally founded in 1959 in Charlotte, North Carolina, Family Dollar expanded rapidly through the Southeast and later nationwide. After its acquisition by Dollar Tree, the corporate headquarters transitioned to Chesapeake, though Family Dollar continues to maintain major operations and a distribution presence in Matthews and Charlotte, North Carolina. The Chesapeake headquarters supports executive leadership, merchandising, supply chain, operations, and administrative functions for thousands of Family Dollar stores across the United States. The brand focuses on neighborhood convenience, operating small-format stores that emphasize essential products at low prices.

  • Retailer
  • -
  • -
  • -

Save A Lot is one of the largest discount grocers in the country, committed to providing customers with quality products at everyday low prices. Shoppers will find fresh produce, in-store cut meat, and exclusive award-winning brands that help save money. The store also offers a wide selection of popular national brands. Save A Lot focuses on keeping costs low, so customers can maximize their spending power. With a select assortment of around 1,800 frequently purchased products, they reduce the need for excess space and eliminate slow-moving items from their distribution. This streamlined approach enables them to pass the savings directly on to their customers, ensuring high-quality groceries at affordable prices every day of the week.

Tenant Industry SF Occupied Rent/SF Lease End
Retailer - - -
Retailer - - -

Property Taxes

Property Taxes

Parcel Number
16-07851
Land Assessment
$30,520
Improvements Assessment
$302,155
Total Assessment
$332,675
  • Listing ID: 39095003

  • Date on Market: 1/15/2026

  • Last Updated:

  • Address: 1703 Airport Hwy, Toledo, OH 43609

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