Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Toledo Retail Property For Sale Title is generated by Realmo AI

    2040 Ottawa River Rd, Toledo, OH

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Multi-tenant retail property in Toledo, OH with seller financing.

    Type:RETAIL
    Property size:
    11,116 SF
    Lot size:
    1.01 Acres
    Price / SF:
    $98/SF
    Added:
    Nov 24, 2025
    Days on Market:
    173
    Last Refresh:
    Apr 5 at 9:46 pm

    Property Features for 2040 Ottawa River Rd

    General Information

    Standard status
    Active
    Size
    11,116 SF
    Lot size
    1.01 Acres
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Danny Francis
    Danny Francis

    Listing agent Danny Francis

    Listing office Legacy Real Estate Advisors

    Listing date Nov 24, 2025

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Legacy Real Estate Advisors

    HighLights

    • Seller financing available (75% LTV)
    • Roof replaced in 2021 with a 20‑year transferable warranty
    • High traffic counts: 11,000+ vehicles pass the site daily
    • Dense demographics: 33,000+ residents within a 3‑mile radius
    • Strong daytime employee base: 21,000+ within a 3‑mile radius
    • Multi‑tenant property in Toledo, OH

    Overview

    This multi-tenant retail property is located in Toledo, OH, within the Toledo, OH MSA. The building has 11,116 square feet of space and is situated on a 1.0 acre lot. The property benefits from dense demographics, with over 33,000 residents within a 3-mile radius. High traffic counts exceed 11,000 vehicles daily on Ottawa River Rd. Daytime employees exceed 21,000 within a 3-mile radius, and the average household income exceeds $64,000 within a 1-mile radius. The roof was replaced in 2021 and has a 20-year transferable warranty. The HVAC systems include a new unit and one that is 7 years old for Marco's Pizza, a unit installed in December 2023 for River Diner, and a new unit installed 4-5 years ago for Verizon. Seller financing is available with 75% LTV; contact the broker for more details.

    Financial Insights

    Value Estimation Calculated for Specialty Retail

    Conservative
    $940.4K
    NOI $84,637 @ 9.00% cap · cautious / downside scenario
    Moderate
    $1.21M
    NOI $84,637 @ 7.00% cap · market / base-case scenario
    Aggressive
    $1.69M
    NOI $84,637 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.
         Calculated for Specialty Retail

    Component $ $/SF
    Gross rent $120.1k $10.80
    − Vacancy −$7.2k −$0.65
    EGI $112.8k $10.15
    − OpEx −$28.2k −$2.54
    NOI $84.6k $7.61
    11,116 SF · lease $10.80/SF/yr · vacancy 6.00% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Specialty Retail
    $1.21M
    $1.06M – $1.41M (±1% cap)
    NOI $84,637 @ 7.0% cap · market cap 7.69%
    Second Best
    Retail
    $1.04M
    $905.9K – $1.21M (±1% cap)
    NOI $72,473 @ 7.0% cap · market cap 6.59%
    Theoretical Best
    Office A
    $1.85M
    $1.62M – $2.16M (±1% cap)
    NOI $129,497 @ 7.0% cap · market cap 11.77%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Marco's Pizza Restaurant Verizon Mobile Phone Store Margie's Store Home Decor Store

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Toledo
    County
    Wood
    State
    Ohio
    Longitude
    -83.4981
    Latitude
    41.7082

    Nearby Similar for Sale

    • $600,000
      3,304 SF

      NNN Leased Investment Property

      NNN leased investment property in Toledo, OH with 15-year lease.
      4842 Dorr St, Toledo, OH
      View Details
    • $849,999
      2,306 SF

      Freestanding Building at Ohio/Michigan Border

      Freestanding building with retail and flex space for lease.
      6195 Lewis Ave, Toledo, OH
      View Details
    • $814,999
      8,820 SF

      New Mixed-Use Building For Sale

      100% occupied, newly constructed mixed-use building near Ohio/Michigan border.
      6195 Lewis Ave, Toledo, OH 43612
      View Details
    • $799,000
      13,200 SF

      Historical Building in Toledo Warehouse

      13,200 SF historical building in Toledo's Warehouse District.
      20 S. Ontario St., Toledo, OH 43604
      View Details
    • $3,995,000
      6,344 SF

      Executive Building Office Space Available

      Office spaces for lease in Toledo's Westgate area.
      3103 Executive Pkwy, Toledo, OH
      View Details
    • $399,000
      4,750 SF

      Freestanding Retail Building For Sale

      Single-tenant retail building with ample parking and signage.
      1131 W Alexis Rd | Toledo, OH 43612
      View Details
    • $850,000
      23,600 SF

      Historic Building in Prime Location

      23,600 SF historic building in the heart of the city.
      241 N Superior St, Toledo, OH 43604
      View Details
    • $4,660,000
      3,756 SF

      Established Car Wash Investment Property

      NNN leased car wash with corporate guarantee and annual increases.
      5756 W Central Ave, Toledo, OH
      View Details
    • $990,000
      6,000 SF

      Multi-Tenant Retail Strip Plaza

      6,000 SF retail plaza with high visibility and traffic.
      4735 Monroe St, Toledo, OH
      View Details
    • $3,995,000
      105,674 SF

      Toledo Westgate Area Office Building

      Seven-story office building for sale or lease in Toledo.
      3103 & 3301 Executive Pkwy, Toledo, OH 43606
      View Details
    • $2,650,000

      Retail Building Anchored by Dollar Tree

      100% occupied, 4-tenant retail building for sale.
      920 W Alexis Road, Toledo, OH 43612
      View Details
    • $3,490,000
      35,850 SF

      Toledo Retail Center For Sale

      Service-oriented retail center with long-term tenants and upside potential.
      503-529 S Reynolds Rd, Toledo, OH
      View Details

    FAQs

    What type of property is this?
    Strip mall - Multi-tenant retail property in Toledo, OH with seller financing.
    Where is this strip mall located?
    The property is located at 2040 Ottawa River Rd Toledo, OH.
    What is the asking price?
    The asking price for this property is $1,100,000.
    What are key features of this property?
    This property features: Seller financing available (75% LTV); Roof replaced in 2021 with a 20‑year transferable warranty; High traffic counts: 11,000+ vehicles pass the site daily
    (248) 450-3257 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Danny Francis
    Danny Francis
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2040 Ottawa River Rd, Toledo, OH
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!