Retail
For Sale
Contact for pricing
2112-2134 N Reynolds Road, Toledo, OH 43615
CR-zoned retail property with an established commercial building in Toledo.
Property Size11,200 SF
Price / SF$87.05
Days on Market11
Property Features for 2112-2134 N Reynolds Road
General Information
Standard status
Active
Size
11,200 SF
Total Parking Spaces
28
Property subtype
Retail
Zoning
10 - CR
Building Details
Year Built
1948
Buildings
2
Stories
1
Tenancy
Multi
Listing Agency:
Signature Associates Toledo
(419) 258-0775
Listed By:
Zack Liber · License #OH-2019006717
Source:
Crexi
Added: Aug 12
Changed: Aug 21
Last Checked: Aug 19 at 9:38PM
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 Signature Associates Toledo
Investment Insights
Based on property information with market context.
This retail property in Toledo, Ohio, offers 11,200 square feet within an existing commercial building. The asset is classified as retail space and carries zoning designation 10 - CR, providing a clear basis for evaluating its commercial positioning.
Built in 1948, the property represents an established retail improvement rather than a newly constructed asset. The available information identifies the property as offered for sale and situated in Toledo’s 43615 ZIP code.
Built in 1948, the property represents an established retail improvement rather than a newly constructed asset. The available information identifies the property as offered for sale and situated in Toledo’s 43615 ZIP code.
Key Highlights
- 11,200‑square‑foot retail property
- Zoning designation: 10 - CR
- Existing commercial building in Toledo, OH 43615
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$73,021
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.49%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,460,420
$1.5M
Cap Rate 7%
$1,043,157
$1.0M
Cap Rate 9%
$811,344
$811.3K
Market Conditions
NOI Build-Up for 11,200 SF
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.
Gross rent
$112.9K $10.08/SF
− Vacancy
−$8.6K −$0.77/SF
EGI
$104.3K $9.31/SF
− OpEx
−$31.3K −$2.79/SF
NOI
$73.0K $6.52/SF
Area
Toledo, OH
Vacancy
7.60%
Lease Rate
$10.08 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,460,420
Cap Rate 7%
$1,043,157
Cap Rate 9%
$811,344
Alternative Uses
Best Use
Retail
$1.04M
$912.8K – $1.22M
NOI $73,021 @ 7.0% cap · market cap 7.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.86M
$1.63M – $2.17M
NOI $130,476 @ 7.0% cap · market cap 13.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
436
Businesses Nearby
6k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 86%
Apparel 14%
Little Caesars Pizza
Dining
3,671 visits/mo
0.1 miles
Vito's Pizza & Subs
Dining
1,144 visits/mo
0.0 miles
Red Wing
Apparel
768 visits/mo
0.1 miles
Demographics for 43615, OH
39,449
Population
19,620
Households
2
Avg Household Size
40
Median Age
28%
College-Educated
93%
High-School Grad
16.5 sq mi
ZIP Area
2,391
Density / Sq Mi
$58,466
Median Household Income
$38,196
Median Earnings
$1,014
Median Rent
$137,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - CR-zoned retail property with an established commercial building in Toledo.
Where is this retail space located?
The property is located at 2112-2134 N Reynolds Road Toledo, OH.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 11,200‑square‑foot retail property; Zoning designation: 10 - CR; Existing commercial building in Toledo, OH 43615
