909 Phillips AveToledo, OH 43612

This exceptional industrial investment property, located at 909 Phillips Avenue in Toledo, Ohio, presents a compelling opportunity. The 35,770 square foot building boasts a strong 10.04% capitalization rate and a net operating income (NOI) of $105,382. Currently housing two tenants, a significant portion (26,000 square feet, or 73% of the building) is occupied by a major tenant under a long-term, 10-year triple net (NNN) lease. This means the tenant is responsible for all operating expenses, including real estate taxes, building insurance, and common area maintenance, minimizing the owner's operational burden. The property also features a half-acre fenced and paved asphalt storage lot, providing ample space for storage and operations. Strategically situated on the southeast corner of Phillips Avenue and Haverhill Drive, just west of I-75, this location offers excellent access to major transportation routes. The asking price is $1,050,000, translating to a price per square foot of $29.35. This property is classified as flex, manufacturing, and warehouse space, making it suitable for a variety of industrial uses. The property's strong tenant base, favorable lease terms, and prime location make it an attractive investment prospect.