Neighborhood Shopping Center
309-337 W Alexis Rd Toledo, OH 43612
For Sale
Contact for pricing
Established shopping center offered for sale with 100% occupancy and prominent frontage on W. Alexis Rd.
Property Size19,190 SF
Price / SF$83.12
Days on Market230
Property Features for 309-337 W Alexis Rd
General Information
Standard status
Active
Size
19,190 SF
Property subtype
RETAIL
Listing Agency:
Reichle | Klein Group
(419) 367-1001
Listed By:
Joe Belinske · License #0000320016
(419) 367-1001
Source:
Moodyscre
Added: Dec 11, 2025
Changed: Jul 27
Last Checked: Jul 28 at 2:36PM
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 Reichle | Klein Group
Investment Insights
Based on property information with market context.
This established neighborhood shopping center is offered for sale with 100% occupancy. The property features multiple curb cuts for accessible site ingress and egress, along with strong street presence supported by 228' of frontage on W. Alexis Rd. and three pylon signs. According to the provided materials, actual NOI is $158,996 at a 10% cap rate.
The center is located on W. Alexis Rd., just east of Bennet Rd. and west of Telegraph Rd. Traffic counts are cited at 20,377 vpd on Alexis Rd., supporting ongoing retail visibility to passing vehicles. The ownership and unit-level improvements noted include new AC units in most units and a roof replacement completed in 2011.
Overall, the asset combines fully leased status with maintained building components and marked roadway exposure for a long-term neighborhood retail use.
The center is located on W. Alexis Rd., just east of Bennet Rd. and west of Telegraph Rd. Traffic counts are cited at 20,377 vpd on Alexis Rd., supporting ongoing retail visibility to passing vehicles. The ownership and unit-level improvements noted include new AC units in most units and a roof replacement completed in 2011.
Overall, the asset combines fully leased status with maintained building components and marked roadway exposure for a long-term neighborhood retail use.
Key Highlights
- Established neighborhood shopping center with 100% occupancy
- Actual NOI of $158,996 with a 10% cap rate
- Prominent W. Alexis Rd. frontage: 228' plus 3 pylon signs at the street
Financial Insights For Retail
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $193.4k | $10.08 |
| − Vacancy | −$14.7k | −$0.77 |
| EGI | $178.7k | $9.31 |
| − OpEx | −$53.6k | −$2.79 |
| NOI | $125.1k | $6.52 |
19,190 SF · lease $10.08/SF/yr · vacancy 7.60% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.79M
$1.56M – $2.09M
NOI $125,114 @ 7.0% cap · market cap 7.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.19M
$2.79M – $3.73M
NOI $223,556 @ 7.0% cap · market cap 14.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Similar Off Market Nearby
- North Towne Commons — 851 W Alexis Rd, Toledo, OH 43612
- Coinstar Kiosk | Bitcoin ATM — Kroger - Columbus, 833 W Alexis Rd, Toledo, OH 43612
- Alexis Park Shopping Center — 5860 Lewis Ave, Toledo, OH 43612
- Pavilion Plaza — Consumer Square Shopping Center, 5973 Telegraph Rd, Toledo, OH 43612
Frequently Asked Questions
What type of property is this?
Shopping center - Established shopping center offered for sale with 100% occupancy and prominent frontage on W. Alexis Rd.
Where is this shopping center located?
The property is located at 309-337 W Alexis Rd Toledo, OH.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: Established neighborhood shopping center with 100% occupancy; Actual NOI of $158,996 with a 10% cap rate; Prominent W. Alexis Rd. frontage: 228' plus 3 pylon signs at the street
