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2021 S Reynolds Rd
Toledo, OH 43614
Retail Property For Sale
Investment Highlights
- Attractive Yield: Offered at a 7.75% cap rate with ~$151K NOI, providing strong in-place cash flow
- Recession-Resilient Use: Essential, needs-based retail with consistent traffic driven by donation and resale model
- Value-Add Potential: Below replacement cost (~$90/SF) with future repositioning or redevelopment upside
- Corporate-Backed Tenant: Lease guaranteed by Goodwill, a nationally recognized operator with over 4,000 locations and $7B+ in revenue
- Minimal Landlord Responsibilities: NN lease structure with tenant covering majority of expenses, reducing ownership burden
- Accessible Midwest Market: Located in Toledo with a population of ~170K within 5 miles and solid household incomes
Executive Summary
Value-Add Potential: Below replacement cost (~$90/SF) with future repositioning or redevelopment upside. Roof was replaced back in 2021 with a 20-year transferable warranty.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
21,712 SF
Building Class
C
Year Built
1972
Price
$1,952,980
Price Per SF
$89.95
Cap Rate
7.75%
NOI
$151,356
Tenancy
Single
Building Height
1 Story
Building FAR
0.26
Lot Size
1.92 AC
Zoning
10-CR
Parking
81 Spaces (3.73 Spaces per 1,000 SF Leased)
Frontage
170’ on South Reynolds Road
Property Taxes
| Parcel Number | 20-01847 | Improvements Assessment | $596,925 |
| Land Assessment | $103,075 | Total Assessment | $700,000 |
Property Taxes
Parcel Number
20-01847
Land Assessment
$103,075
Improvements Assessment
$596,925
Total Assessment
$700,000
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