REIT Sale | Former Boston Market | Kroger Adjacent | 34K VPD | Drive Thru

Description:

Ri Marketplace Online Auction September 8th - 10th, 2025
Register to bid on Marketplace:

https://rimarketplace.com/auction/2668/reit-sale-former-boston-market-kroger-adjacent-34k-vpd-drive-thru?utm_source=brevitas&utm_medium=listing&utm_campaign=external&utm_content=retail_2668

Marcus & Millichap and RI Marketplace are pleased to present the opportunity to acquire a vacant, free-standing, second-generation restaurant/retail building located at 3808 Secor Road in Toledo, OH 43623 (the “Property”). This Kroger outparcel, formerly occupied by Boston Market, is being offered significantly below replacement cost creating an exceptional opportunity for owner-users or investors to acquire a highly visible, strategically located asset at a substantial discount. FIRST BID MEETS RESERVE!

Built in 1985, the Property consists of a single-story, free-standing retail building totaling ±3,114 square feet, situated on a ±1.02-acre parcel (±44,447 SF). Positioned as an outparcel to a Kroger-anchored retail center, the site includes 50 surface parking spaces and offers ±96 feet of frontage along Secor Road, with outstanding freeway accessibility, highway pylon signage, and exposure to over 34,700 vehicles per day (VPD). The existing restaurant infrastructure makes the Property well-suited for restaurant reuse, retail repositioning, or complete redevelopment. Previously leased on a triple net (NNN) basis, the Property presents a compelling value-add opportunity to re-lease the space at market rents (CoStar estimated retail rents: $14–$17/SF NNN). Zoned CR (Commercial Regional), the site allows for a broad range of retail, service, and commercial uses, offering significant operational flexibility.

Toledo is the fourth-largest city in Ohio and serves as a major economic, cultural, and commercial hub for the northwestern Ohio region, offering strong market fundamentals for retailers, service providers, and restaurant operators alike. The Property is strategically located along Secor Road—one of Toledo’s primary north-south commercial corridors, near the intersection with Route-51/Monroe Street (±26,804 VPD). It is located just off I-475’s Exit 17, offering excellent visibility and access to I-475/US-23 (±77,198 VPD), with additional connectivity to I-75 (±3-mi), two of the region’s most heavily trafficked highways. Situated in a dense retail corridor as an outlot to a high-performing Kroger and surrounded by national and regional tenants including Best Buy, Costco, Home Depot, Fresh Market, Chick-fil-A, and Starbucks, the Property benefits from consistent foot traffic and strong consumer demand. Additional nearby demand drivers include The University of Toledo (±15,000 students), ProMedica Toledo Hospital (±794 beds and ±4,000 employees), and major industrial and logistics hubs that support thousands of jobs across healthcare, education, and manufacturing. The site also offers convenient access to downtown Toledo’s central business district (within ±10-min) and major regional attractions including the Toledo Zoo and Hollywood Casino Toledo. The surrounding 3-mi trade area is home to more than 105,000 residents with an average household income of ±$86,408, while the 5-mi population nearly doubles to ±226,522 residents—providing a robust consumer base to support retail, restaurant, and commercial operations.

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