The Shoppes on Sylvania

Highlights:

• Fully Occupied Retail Center | 100% leased to three established tenants: AutoZone, Family Dollar, and newly leased Glass City CrossFit.
• Long-Term Tenancy | Two anchor tenants (AutoZone & Family Dollar) have occupied the center for over 20 years, demonstrating strong location stability.
• Attractive Return | Offering at $1,850,000 with a 9.01% Cap Rate and $166,764 NOI, providing stable cash flow from day one.
• Prime Toledo Retail Location | Situated along W. Sylvania Avenue with 19,000+ VPD and surrounded by strong national retailers including Kroger, Best Buy, Dollar Tree, and The Franklin Park Mall
• Strong Demographics | Average household income of $71,917 within 5 miles and a population exceeding 213,000 in the same radius.
• High Consumer Traffic | Family Dollar draws approximately 134,000 visits annually (Placer.ai), ensuring consistent foot traffic to the center.
• Ease of Access & Visibility | Prominent frontage on a main commercial corridor, surrounded by dense residential neighborhoods and schools such as Notre Dame Academy and Horizon Science Academy.
• Established Credit Tenants | AutoZone, Inc. – $17.5B+ revenue, largest U.S. auto parts retailer; Family Dollar (Dollar Tree, Inc. subsidiary) – $30.6B+ revenue, over 8,000 locations nationwide.

Description:

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Toledo, Ohio, is located in the northwest corner of the state along the western shore of
Lake Erie. As the fourth-largest city in Ohio, it has a population of around 270,000. Known
as the "Glass City" due to its historical significance in the glass manufacturing industry,
Toledo became a major center for glass production with companies like Owens-Corning
and Libbey Glass. The city’s history dates back to early Native American settlements, with
European American settlers arriving in the early 19th century. During the War of 1812,
Toledo's location along the Maumee River and Lake Erie made it a strategic area. By the
late 19th and early 20th centuries, Toledo’s economy grew rapidly due to the glass
industry, as well as automotive manufacturing, steel production, and agriculture.
Today, Toledo's economy is diverse, with the manufacturing sector still playing a role,
particularly through the presence of the Jeep brand and the Chrysler (now Stellantis)
factory. The city also has thriving sectors in healthcare, education, and logistics. The
University of Toledo, a large public research institution, contributes significantly to the
local economy. Toledo is rich in culture, with prominent attractions like the Toledo
Museum of Art, which boasts impressive collections of European and American art, as
well as glassworks. The Toledo Zoo, one of the oldest in the United States, and Maumee
Bay State Park, with its recreational offerings, are also popular destinations. Sports are
important to the city, with the Toledo Mud Hens, a Minor League Baseball team, and the
University of Toledo Rockets' NCAA Division I teams.
Though Toledo has faced challenges transitioning from its industrial past, it has seen
significant revitalization efforts, especially in its downtown area, where urban renewal
projects aim to attract new businesses and boost tourism. The city benefits from its
transportation infrastructure, with major highways like I-75 and I-80/90 running through it,
as well as access to Lake Erie for trade and travel. Today, Toledo continues to build on its
industrial legacy while embracing new industries and cultural growth.