Retail Space Available For
For Sale
Contact for pricing
2124 W Alexis Rd, Toledo, OH 43613
Retail space with 2,423 SqFt available for sale.
Property Size2,423 SF
Price / SF$103.18
Days on Market149
Property Features for 2124 W Alexis Rd
General Information
Standard status
Active
Size
2,423 SF
Class
B
Total Parking Spaces
64
Property subtype
Retail
Zoning
Regional Commercial
Lease Type
Modified Gross
Investment Type
Value Add
Building Details
Year Built
1975
Year Renovated
2018
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
SVN Ascension Commercial Realty
(734) 344-2317
Listed By:
Patrick West · License #2023003931
Source:
Crexi
Added: Mar 17
Changed: Aug 8
Last Checked: Aug 11 at 4:22PM
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 SVN Ascension Commercial Realty
Investment Insights
Based on property information with market context.
This is a retail space offering 2,423 square feet and is available for sale.
Key Highlights
- Retail property available
- 2,423 SqFt of space
- Built in 1975
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
$15,797
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
6.32%
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%
$315,940
$315.9K
Cap Rate 7%
$225,671
$225.7K
Cap Rate 9%
$175,522
$175.5K
Market Conditions
NOI Build-Up for 2,423 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
$24.4K $10.08/SF
− Vacancy
−$1.9K −$0.77/SF
EGI
$22.6K $9.31/SF
− OpEx
−$6.8K −$2.79/SF
NOI
$15.8K $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%
$315,940
Cap Rate 7%
$225,671
Cap Rate 9%
$175,522
Alternative Uses
Best Use
Retail
$225.7K
$197.5K – $263.3K
NOI $15,797 @ 7.0% cap · market cap 6.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$403.2K
$352.8K – $470.5K
NOI $28,227 @ 7.0% cap · market cap 11.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
225
Businesses Nearby
53k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 66%
Dining 34%
Speedway
Shops & Services
22,385 visits/mo
0.5 miles
Taco Bell
Dining
10,862 visits/mo
0.1 miles
Marathon
Shops & Services
6,179 visits/mo
0.4 miles
Long John Silver's
Dining
5,526 visits/mo
0.4 miles
AutoZone
Shops & Services
3,339 visits/mo
0.1 miles
Demographics for 43613, OH
32,116
Population
14,376
Households
2.2
Avg Household Size
37
Median Age
23%
College-Educated
93%
High-School Grad
6.1 sq mi
ZIP Area
5,265
Density / Sq Mi
$63,425
Median Household Income
$41,877
Median Earnings
$895
Median Rent
$125,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail space with 2,423 SqFt available for sale.
Where is this retail space located?
The property is located at 2124 W Alexis Rd Toledo, OH.
What is the asking price?
The asking price for this property is $249,997.
What are key features of this property?
This property features: Retail property available; 2,423 SqFt of space; Built in 1975
