Toledo, OH - Goodwill

Description:

SRS National Net Lease Group, LP is pleased to present the opportunity to acquire the fee simple interest in a NNN-leased Goodwill retail property located in Toledo, Ohio. The tenant, Goodwill Industries of Northwest Ohio, Inc., recently executed a brand new 12-year lease with two (2) additional five-year renewal options, demonstrating long-term commitment to the site. The lease features a scheduled $1 PSF rent increase during the primary term and CPI-based increases at the start of each option period, supporting long-term NOI growth and providing an inflation hedge. This is a relocation store for Goodwill with a proven track record of strong performance in the market. As further evidence of their commitment, the tenant recently completed approximately $250,000 in site improvements, including repaving and restriping the parking lot. The lease is structured as NNN with minimal landlord responsibilities and signed by a corporate entity, an ideal, low-touch investment opportunity for passive or out-of-state investors.

The property is prominently positioned at the signalized, hard corner intersection of S Reynolds Rd (23,800 VPD) and Heatherdowns Blvd (15,500 VPD), with immediate access to I-80/I-90 (31,200 VPD) and minutes from I-475 (80,800 VPD), two major regional arterials. The surrounding area is a dense retail corridor anchored by national brands and regional centers, including Suffolk Square, Springfield Commons, and Spring Meadows Place. Spring Meadows Place is a top-performing Target-anchored center that draws 6.9 million annual visits and ranks in the 78th percentile statewide among comparable centers. Other nearby anchors like Walmart Supercenter, Meijer, and Kroger further reinforce the area’s daily draw. The 5-mile trade area includes over 152,900 residents and 80,600 employees, with an AHHI of $99,012. The property is just 15 minutes from Downtown Toledo and part the Toledo MSA, the 4th-largest in Ohio with a population exceeding 650,000.

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Listing ID: a28TP000001uzBVYAY