Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    462 3rd Street Toledo, OH 43605

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $159,900

    Four updated apartments near Erie Street Markets and Maumee River.

    Type:Quadruplex
    Added:
    Dec 9, 2025
    Days on Market:
    114
    Last Refresh:
    Dec 18 at 9:28 pm

    Property Features for 462 3rd Street

    General Information

    Standard status
    Active
    Property subtype
    Quadruplex

    Building Details

    Year Built
    1890

    We can help!

    Listing Contact
    Miriam Simon

    Listing agent Miriam Simon

    Listing office New Vision Realty

    Listing date Dec 9, 2025

    Source Kw

    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 New Vision Realty

    Overview

    Four Updated Units Near Downtown

    This property, constructed in 1890, features four apartments with updated interiors. Each unit offers a layout designed for comfort. The property has separate utilities for each unit. It is located near the Erie Street Markets, the Maumee River, downtown Toledo, The Docks, and various dining establishments. The property is intended as an investment opportunity.
    Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Toledo
    County
    Wood
    State
    Ohio
    Longitude
    -83.5227
    Latitude
    41.6458

    Nearby Similar for Sale

    • $814,999
      8,820 SF

      New Mixed-Use Building For Sale

      100% occupied, newly constructed mixed-use building near Ohio/Michigan border.
      6195 Lewis Ave, Toledo, OH 43612
      View Details
    • $799,000
      13,200 SF

      Historical Building in Toledo Warehouse

      13,200 SF historical building in Toledo's Warehouse District.
      20 S. Ontario St., Toledo, OH 43604
      View Details
    • $600,000
      3,304 SF

      NNN Leased Investment Property

      NNN leased investment property in Toledo, OH with 15-year lease.
      4842 Dorr St, Toledo, OH
      View Details
    • $850,000
      23,600 SF

      Historic Building in Prime Location

      23,600 SF historic building in the heart of the city.
      241 N Superior St, Toledo, OH 43604
      View Details
    • $380,000
      7,200 SF

      West Toledo Multi-Use Opportunity

      7,200 SF office building for sale or lease.
      4221 W Alexis Rd, Toledo, OH 43613
      View Details
    • $849,999
      2,306 SF

      Freestanding Building at Ohio/Michigan Border

      Freestanding building with retail and flex space for lease.
      6195 Lewis Ave, Toledo, OH
      View Details
    • $3,995,000
      105,674 SF

      Toledo Westgate Area Office Building

      Seven-story office building for sale or lease in Toledo.
      3103 & 3301 Executive Pkwy, Toledo, OH 43606
      View Details
    • $3,995,000
      6,344 SF

      Executive Building Office Space Available

      Office spaces for lease in Toledo's Westgate area.
      3103 Executive Pkwy, Toledo, OH
      View Details
    • $799,000
      19,800 SF

      Warehouse District Historical Building

      19,800 SF historical building in Toledo's Warehouse District.
      20 S. Ontario St., Toledo, OH 43604
      View Details
    • $355,980
      2,094 SF

      Sylvania Township Office For Sale

      2,094 SF office condo in Kings Pointe business park.
      7558-7600 Kings Pointe Rd, Toledo, OH
      View Details
    • $850,000
      23,600 SF

      Historic Building in Downtown Toledo

      Adaptable historic building ideal for retail or office redevelopment.
      241 N Superior St, Toledo, OH 43604
      View Details
    • $990,000
      6,000 SF

      Multi-Tenant Retail Strip Plaza

      6,000 SF retail plaza with high visibility and traffic.
      4735 Monroe St, Toledo, OH
      View Details

    FAQs

    What type of property is this?
    Quadplex - Four updated apartments near Erie Street Markets and Maumee River.
    Where is this quadplex located?
    The property is located at 462 3rd Street Toledo, OH.
    What is the asking price?
    The asking price for this property is $159,900.
    What are key features of this property?
    This property features: Four updated apartments provide immediate rental income.; Separate utilities for each unit simplify management.; Prime location near Erie Street Markets, Maumee River, Downtown, and The Docks.
    (419) 461-4444
    We can help!
    Listing Contact
    Miriam Simon
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!