New Mixed-Use Building For
6195 Lewis Ave, Toledo, OH 43612
100% occupied, newly constructed mixed-use building near Ohio/Michigan border.
Type:Retail
Property size:
8,820 SFPrice / SF:
$92/SF- Added:
- Mar 6, 2026
- Days on Market:
- 71
- Last Refresh:
- Apr 6 at 12:19 am
Property Features for 6195 Lewis Ave
General Information
- Standard status
- Active
- Size
- 8,820 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1976
Listing agent Ali Sayed License #OH #2022003059 (419) 540-8888
Listing office (419) 540-8888
Listing date Mar 6, 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 Ali Sayed
HighLights
- 100% occupied, newly constructed (2024) mixed‑use building with 3 units and long‑term NNN leases.
- Excellent location near the Ohio/Michigan border with high traffic counts and proximity to restaurants and retail.
- New construction condition with new roof (15‑year warranty) and new mechanicals with warranties.
- 42‑space parking lot, offering ample parking.
- Great visibility and easy access with 2 curb cuts and monument signage.
- Upside potential opportunity upon lease renewal.
Overview
This 8,820 square foot mixed-use building is available for sale. The property is 100% occupied and newly constructed. It contains three units, each with executed 3-5 year NNN leases. Current tenants include Sleeved Up Games, A1 Performance Training, and The Loaded Chicken, all of whom are active with buildout and fit up. The property is situated approximately 1/2 mile north of the signalized intersection of West Alexis Road and Lewis Avenue. Both roads are four-lane thoroughfares with turning lanes. West Alexis Road features a mix of national and local restaurants. The property is well-suited for a 1031 exchange buyer. It is adjacent to the Ohio/Michigan border and near the Lewis Avenue/Alexis Road signalized intersection, which features a mix of national and local restaurants and retail. The plaza is in excellent, new construction condition, offering upside potential upon lease renewal. The property benefits from great visibility and easy access, with two curb cuts and monument signage. A new parking lot provides 42 spots. The building features a new roof with a 15-year warranty and new mechanicals with warranties. Water and gas are metered separately. Traffic counts are 16,405 vehicles per day on Lewis Avenue (2024) and 20,847 vehicles per day on West Alexis Road (2025).
Financial Insights
Value Estimation Calculated for Specialty Retail
Conservative
$746.2K
NOI $67,155 @ 9.00% cap · cautious / downside scenario
Moderate
$959.4K
NOI $67,155 @ 7.00% cap · market / base-case scenario
Aggressive
$1.34M
NOI $67,155 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Specialty Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $95.3k | $10.80 |
| − Vacancy | −$5.7k | −$0.65 |
| EGI | $89.5k | $10.15 |
| − OpEx | −$22.4k | −$2.54 |
| NOI | $67.2k | $7.61 |
8,820 SF · lease $10.80/SF/yr · vacancy 6.00% · expense 25.00%
Alternative Use Scenarios
Best Use
Specialty Retail
$959.4K
$839.4K – $1.12M
NOI $67,155 @ 7.0% cap · market cap 8.24%
Second Best
Retail
$821.5K
$718.8K – $958.4K
NOI $57,504 @ 7.0% cap · market cap 7.06%
Theoretical Best
Office A
$1.47M
$1.28M – $1.71M
NOI $102,749 @ 7.0% cap · market cap 12.61%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Strip malls
Location Insight
- Map
- Local Demand
- City
- Toledo
- County
- Wood
- State
- Ohio
- Longitude
- -83.5671
- Latitude
- 41.7298
Nearby Similar for Sale
FAQs
What type of property is this?
Strip mall - 100% occupied, newly constructed mixed-use building near Ohio/Michigan border.
Where is this strip mall located?
The property is located at 6195 Lewis Ave Toledo, OH.
What is the asking price?
The asking price for this property is $814,999.
What are key features of this property?
This property features: 100% occupied, newly constructed (2024) mixed‑use building with 3 units and long‑term NNN leases.; Excellent location near the Ohio/Michigan border with high traffic counts and proximity to restaurants and retail.; New construction condition with new roof (15‑year warranty) and new mechanicals with warranties.
