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245 N Summit St Toledo, OH 43604

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For Sale
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High-rise multifamily asset with strong income and growth potential.

Property size:
146,352 SF

Property Features for 245 N Summit St

General Information

Standard status
Active
Size
146,352 SF

Building Details

Year built
1912

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Listing Contact
Katie Nunez
Source: Crexi

Listing Agency: Kiser group Listing Agent: Katie Nunez

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

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Overview

High-Rise Multifamily Investment Opportunity

Edge 21 Apartments presents an opportunity to acquire a high-rise multifamily asset. The property is offered at an attractive basis relative to comparable properties in larger Midwest markets, supporting stronger yields and favorable long-term return potential. This pricing advantage allows investors to capitalize on stable in-place income while maintaining upside through continued lease-up, rent growth, and future expansion within the existing building footprint. The Toledo metropolitan area is supported by a diverse and resilient employment base anchored by nationally recognized healthcare systems, higher education institutions, advanced manufacturing employers, and regional logistics and distribution hubs. This broad economic foundation provides stability across economic cycles and supports consistent renter demand from a wide range of professional and workforce tenants. Downtown Toledo is benefiting from public and private reinvestment, particularly along the Maumee River waterfront and surrounding urban core. Improvements to public spaces, entertainment venues, infrastructure, and mixed-use developments have enhanced the area’s livability and walkability, increasing its appeal as a residential destination and contributing to improving multifamily fundamentals and long-term value appreciation. Toledo’s relative affordability compared to larger Midwest metros such as Chicago, Columbus, and Detroit continues to drive strong workforce housing demand. This affordability advantage, combined with ongoing urban revitalization and a stable employment base, positions Edge 21 Apartments to achieve durable occupancy, consistent cash flow, and sustainable rent growth over time.
Location Intelligence

Current Use by Public Records

ProMedica Federal Credit ... Credit Union Edge 21 Apartments Apartment Complex

Suggested Use

Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Law Firm Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

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

Location Insight

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  • Local Demand
City
Toledo
County
Wood
State
Ohio
Longitude
-83.5340531
Latitude
41.6508376

FAQs

What type of property is this?
Apartment building - High-rise multifamily asset with strong income and growth potential.
Where is this apartment building located?
The property is located at 245 N Summit St Toledo, OH.
What are key features of this property?
This property features: - Attractive acquisition basis relative to comparable Midwest properties, offering stronger yields and return potential.; - Upside potential through continued lease-up, rent growth, and future expansion within the existing building.; - Stable in-place income supported by a diverse and resilient Toledo employment base.
More about this property
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