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610 Monroe St 33,500 SF 100% Leased Retail Building Toledo, OH 43604 $2,350,000 ($70.15/SF)
Investment Highlights
- 36,000 SF commercial building spanning five floors plus full basement for sale
- Floors 3-5 offer a prime residential redevelopment opportunity with the potential for 12 additional apartment units
- Real estate only, business not included; Financials available upon request
- Located near Promenade Park, Huntington Center, and Fifth Third Field
Executive Summary
Five-story, 36,000 SF, fully sprinklered, mixed-use building in the heart of downtown Toledo's central business district for sale. Built in 1910 with original wood floors throughout, the property retains its historic character while delivering modern functionality on the lower levels. Located in Close proximity to restaurants and entertainment venues, including Fifth Third Field, Huntington Center, Valentine Theatre and Promenade Park.
The first and second floors are leased to All American Tap House, a 10,000 SF bar and restaurant operating under a five-year modified gross lease with renewal options and annual rent escalations. Both floors have been fully renovated, the first in 2010 and the second in 2024, with combined seating capacity for 380 guests.
Floors three through five are unimproved, presenting a clean canvas for redevelopment. Renderings and drawings are for 12 apartments, four per floor, configured as two-bedroom, one bath units with in-unit laundry and separate utility metering. An elevator already runs from basement to fifth floor, and sprinklers are installed
on every level.
The first and second floors are leased to All American Tap House, a 10,000 SF bar and restaurant operating under a five-year modified gross lease with renewal options and annual rent escalations. Both floors have been fully renovated, the first in 2010 and the second in 2024, with combined seating capacity for 380 guests.
Floors three through five are unimproved, presenting a clean canvas for redevelopment. Renderings and drawings are for 12 apartments, four per floor, configured as two-bedroom, one bath units with in-unit laundry and separate utility metering. An elevator already runs from basement to fifth floor, and sprinklers are installed
on every level.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
33,500 SF
Building Class
C
Year Built
1910
Price
$2,350,000
Price Per SF
$70.15
Percent Leased
100%
Tenancy
Multiple
Building Height
5 Stories
Building FAR
4.81
Lot Size
0.16 AC
Opportunity Zone
Yes
Zoning
CD - Designed to support a mix of residential, commercial, and recreational uses, promoting a balanced and sustainable community development.
Parking
72 Spaces (2.15 Spaces per 1,000 SF Leased)
Frontage
78’ on Monroe St
Fairly walkable
50/100
Exceptionally drivable
100/100
Some public transit
50/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 12-00161 | Improvements Assessment | $20,370 |
| Land Assessment | $350 | Total Assessment | $20,720 |
Property Taxes
Parcel Number
12-00161
Land Assessment
$350
Improvements Assessment
$20,370
Total Assessment
$20,720
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610 Monroe St