Skip to main content

Office Warehouse

5242 Angola Rd

5242 Angola Rd, Toledo, OH 43615

Listing Price: $3,250,000

Cap Rate
9.05%
Gross SF
60,637
Price/Gross SF
$53.60
Lot Size
4.18 acres
Year Built
1977
Rentable SF
60,637

Investment Overview

Marcus & Millichap is pleased to present the fee-simple sale offering of 5242 Angola Road and 5333 Secor Road/3347 McGregor Lane, multi-tenant flex properties in Toledo, Ohio. The properties can be purchased
together as a portfolio, or separately.

5242 Angola Road is a 26,968 square foot flex building located in southwest Toledo, on the corner of Angola and Reynolds Roads, less than two miles from Interstate 475 access. The property consists of 13 walk-in units and is currently 92.58% occupied with nine tenants across 12 units. Majority of tenants are on short-term leases, with many paying below market rental rates.

The 5333 Secor Road and 3347 McGregor Lane properties are situated on two adjacent parcels in northwest Toledo at the intersection of Secor Road and McGregor Lane. 5333 Secor Road is 28,450 square foot flex building comprising of 23 walk-in units, while 3347 McGregor Lane is a standalone single-unit 5,260 square foot industrial/warehouse building. Together the buildings are currently fully occupied by 19 tenants.

The acquisition of this offering provides an investor with the opportunity to acquire two stabilized flex assets with significant future upside. At the current list price of $3,250,000 the investment generates an NOI of $294,173 which equates to a capitalization rate of 9.05%.

Investment Highlights

  • Multi-tenant flex portfolio investment opportunity
  • Strong mix of local/regional tenants
  • Below market rents | Average rental rate of $7.35/SF on Mod. Gross and Gross lease structures
  • Tight Class B & C industrial market | 1.4% vacancy rate in Toledo
  • Professional property management and leasing team willing to stay on for new ownership
  • Brand new roof with 20-year warranty at 5242 Angola Road | $136K in recent roof maintenance/ replacement of 5333 Secor Road

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (614) 360-9800

    License(s) OH: BRK.2007005898

    Ohio

Office Warehouse

5242 Angola Rd

Listing Price: $3,250,000

Cap Rate
9.05%
Gross SF
60,637
Price/Gross SF
$53.60
Lot Size
4.18 acres
Year Built
1977
Rentable SF
60,637

Investment Highlights

  • Multi-tenant flex portfolio investment opportunity
  • Strong mix of local/regional tenants
  • Below market rents | Average rental rate of $7.35/SF on Mod. Gross and Gross lease structures
  • Tight Class B & C industrial market | 1.4% vacancy rate in Toledo
  • Professional property management and leasing team willing to stay on for new ownership
  • Brand new roof with 20-year warranty at 5242 Angola Road | $136K in recent roof maintenance/ replacement of 5333 Secor Road

Investment Overview

Marcus & Millichap is pleased to present the fee-simple sale offering of 5242 Angola Road and 5333 Secor Road/3347 McGregor Lane, multi-tenant flex properties in Toledo, Ohio. The properties can be purchased together as a portfolio, or separately. 5242 Angola Road is a 26,968 square foot flex building located in southwest Toledo, on the corner of Angola and Reynolds Roads, less than two miles from Interstate 475 access. The property consists of 13 walk-in units and is currently 92.58% occupied with nine tenants across 12 units. Majority of tenants are on short-term leases, with many paying below market rental rates. The 5333 Secor Road and 3347 McGregor Lane properties are situated on two adjacent parcels in northwest Toledo at the intersection of Secor Road and McGregor Lane. 5333 Secor Road is 28,450 square foot flex building comprising of 23 walk-in units, while 3347 McGregor Lane is a standalone single-unit 5,260 square foot industrial/warehouse building. Together the buildings are currently fully occupied by 19 tenants. The acquisition of this offering provides an investor with the opportunity to acquire two stabilized flex assets with significant future upside. At the current list price of $3,250,000 the investment generates an NOI of $294,173 which equates to a capitalization rate of 9.05%.

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (614) 360-9800

    License(s): OH: BRK.2007005898

    Ohio

MM Texture Background
MM Textured Background Lower