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    Downtown Toledo Office Suites Available Title is generated by Realmo AI

    420 Madison Ave., Toledo, OH 43604

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    Move-in ready office suites in the heart of downtown Toledo.

    Type:Office
    Property size:
    133,750 SF
    Added:
    Jan 27, 2026
    Days on Market:
    129
    Last Refresh:
    Apr 6 at 12:28 am

    Property Features for 420 Madison Ave.

    General Information

    Standard status
    Active
    Size
    133,750 SF
    Property subtype
    Office

    Building Details

    Year Built
    1895

    Spaces For Lease

    at 420 Madison Ave. Contact us

    We can help!

    Listing Contact
    Brian Downey
    Brian Downey

    Listing agent Brian Downey License #OH #2012001418

    Listing office

    Listing date Jan 27, 2026

    Source Svn

    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 Brian Downey

    HighLights

    • Move‑in ready office suites available, ranging from 630 SF - 3,700 SF.
    • Prime location in the heart of the Central Business District and Downtown Toledo DORA.
    • Walking distance to Huntington Center, Promenade Park, Warehouse District, Fifth Third Field, and Glass City Center.
    • Downtown Commercial zoning allows for a variety of uses.
    • On‑site amenity: House of Coffee now open in the lobby.
    • Professionally maintained and managed.

    Overview

    This 133,750 square foot building offers several move-in ready office suites available for lease, ranging in size from 630 to 3,700 square feet. The property is zoned Downtown Commercial, allowing for a variety of uses. It is centrally situated in the heart of the Central Business District and the Downtown Toledo Designated Outdoor Refreshment Area (DORA). The building is located across Madison Avenue from the Huntington Center and within walking distance of Promenade Park, the Warehouse District, Fifth Third Field, the newly renovated Glass City Center, and numerous restaurants, retail establishments, apartments, and hotels. Parking is available on the street and in the Superior and Port Lawrence Garages, both located within one block of the property. The building is situated near The Four Corners Project and within a Community Reinvestment Area. The property is professionally maintained and managed. A House of Coffee is now open in the lobby.
    Property Profile Location Intelligence

    Current Use by Public Records

    US Labor Department ... Government Office Toledo Department Public ... Government Office URS Corporation Engineering Consultant US Commerce Department Federal Government Office Marine Safety Unit Government Office

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Law Firm Food Market Grocery & Convenience Store Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Toledo
    County
    Wood
    State
    Ohio
    Longitude
    -83.5355
    Latitude
    41.6519

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    FAQs

    What type of property is this?
    Office building - Move-in ready office suites in the heart of downtown Toledo.
    Where is this office building located?
    The property is located at 420 Madison Ave. Toledo, OH.
    What are key features of this property?
    This property features: Move‑in ready office suites available, ranging from 630 SF - 3,700 SF.; Prime location in the heart of the Central Business District and Downtown Toledo DORA.; Walking distance to Huntington Center, Promenade Park, Warehouse District, Fifth Third Field, and Glass City Center.
    (419) 540-8888
    We can help!
    Listing Contact
    Brian Downey
    Brian Downey
    Real Estate License ID: OH #2012001418
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    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
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