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Deveaux Village Shopping Center 2600-2602 W Sylvania Ave 73,650 SF 100% Leased Retail Building Toledo, OH 43613 $5,250,000 ($71.28/SF) 9.51% Cap Rate
INVESTMENT HIGHLIGHTS
- 72,050 SF Service-Based Retail Center with Long History of Occupancy | 75% of Tenants have Operated on Site since 2007
- 2025 5-Year Renewal by Anchor Cedar Creek Community Church | Established Multi-City Operation with Six Locations | Draws Large Crowds to Center
- Shopping Center is Offered Well Below Replacement Costs
- Cohesive Mix of National, Regional and Local Tenants | One Third of Tenants Operate Nationally
- Cedar Creek Church Increase in Rent in Current Renewal for 2026 | Increase in Additional (1) 3 Year Renewal | Interest in Right of First Refusal
- Value-Add Through Restructuring or Re-leasing the Seven Tenants without Options | Opportunity to Push Rents at Lease Rollover
EXECUTIVE SUMMARY
72,050 SF Service-Based Retail Center with Long History of Occupancy | 75% of Tenants have Operated on Site since 2007
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
73,650 SF
Building Class
C
Year Built/Renovated
1968/2005
Price
$5,250,000
Price Per SF
$71.28
Cap Rate
9.51%
NOI
$499,426
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.46
Lot Size
3.65 AC
Zoning
10-CR - Designated for larger-scale commercial activities that serve a regional market, such as shopping centers, large retail stores, etc.
Parking
300 Spaces (4.07 Spaces per 1,000 SF Leased)
Frontage
482’ on Buell Avenue
AMENITIES
- Corner Lot
- Pylon Sign
- Signage
- Air Conditioning
NEARBY MAJOR RETAILERS
Fifth Third Bank
PROPERTY TAXES
| Parcel Number | 04-09559 | Improvements Assessment | $1,313,305 |
| Land Assessment | $90,895 | Total Assessment | $1,404,200 |
PROPERTY TAXES
Parcel Number
04-09559
Land Assessment
$90,895
Improvements Assessment
$1,313,305
Total Assessment
$1,404,200
CONTACTS
-
Deno Bistolarides -
Evan Lyons -
Joe Lopez -
Encore Real Estate Investment Services
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Deveaux Village Shopping Center | 2600-2602 W Sylvania Ave
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