Add Listing
    For Lease
    • 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

    821 W Alexis Rd Toledo, OH 43612

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail space for lease in a well-maintained shopping center.

    Type:Retail
    Added:
    Apr 6, 2022
    Days on Market:
    1468
    Last Refresh:
    Mar 17 at 1:14 pm

    Property Features for 821 W Alexis Rd

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Building Details

    Year Built
    1990

    Spaces For Lease

    at 821 W Alexis Rd Contact us

    829 $8 /Mo

    Size
    30,925 SF
    Type
    Retail
    Contact us

    827-A $12 /Mo

    Size
    13,000 SF
    Type
    Retail
    Contact us

    We can help!

    Listing Contact
    Duke Wheeler

    Listing agent Duke Wheeler License #OH 2002018621

    Listing office Reichle | Klein Group

    Listing date Apr 6, 2022

    Source Crexi

    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

    Overview

    Anchored Shopping Center Space Available

    Located at the southeast corner of Alexis Rd. and Lewis Ave. in Toledo, OH, North Towne Commons is part of a 400,000 SF retail development. The super regional shopping center is anchored by Kroger, Target (remodeled in 2021), and Office Max. Numerous national in-line tenants are present, including Aaron's, Shoe Show Mega Store, and Penn Station. The trade area serves residents of North and West Toledo, as well as communities in Southeastern Michigan. The shopping center benefits from a primary access point with a traffic signal. Large employers in the area include numerous light industrial and manufacturing facilities, such as GM Powertrain Toledo Transmission Operations and Chrysler Toledo Assembly Plant. There is a rare opportunity to lease space within the shopping center due to high occupancy. The shopping center is professionally maintained.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ocean Garden Buffet Restaurant New Star Beauty ... (Bike/Boat/Book/etc) Store Aaron's Rent To Own Furniture & Home Goods Penn Station East ... Take-out & Catering Vape Super Center (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

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

    Similar Places 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

    Location Insight

    • Map
    • Local Demand
    City
    Toledo
    County
    Wood
    State
    Ohio
    Longitude
    -83.561943
    Latitude
    41.7199354

    Nearby Similar for Lease

    • Contact for pricing

      Ottawa Hills Office Space Available

      Second floor office space for lease in Ottawa Hills.
      4334 Central Avenue, Toledo, OH 43615
      View Details
    • Contact for pricing

      Retail Space Near Byrne Road

      Retail space for lease in South Toledo near major retail.
      803 S Byrne Rd, Toledo, OH 43609
      View Details
    • $20/mo

      Medical Space on Sylvania Avenue

      Sub-lease opportunity: 6,023 SF medical space with high visibility.
      3546 W Sylvania Ave, Toledo, OH 43623
      View Details
    • $6/mo

      Flex Space Near I-75

      4,800 SF flex space with I-75 access.
      1158 South Expressway Drive, Toledo, OH 43608
      View Details
    • Sponsored
      Contact for pricing

      OH, Toledo - Franklin Park

      3950 Sunforest Ct, Unit 2ND, Toledo, OH 43623
      View Details
    • $14/mo

      Retail Space Near I-475

      Retail space available near I-475 and Dorr St interchange.
      1101 N McCord Rd, Toledo, OH 43615
      View Details
    • $15/mo

      Retail Space at Signalized Intersection

      1,250 SF retail space in high-traffic Toledo location.
      1208 South Reynolds Road, Toledo, OH 43615
      View Details
    • $12/mo

      Fort Industry Square Commercial Space

      Class "A" commercial space in downtown Toledo's revitalized district.
      100 North Summit Street, Toledo, OH 43604
      View Details
    • $12/mo

      Toledo Westgate Area Office Building

      Seven-story office building in Toledo's Westgate area for sale/lease.
      3103 & 3301 Executive Pkwy, Toledo, OH 43606
      View Details
    • $11/mo

      Retail Space with Drive-Thru Window

      1,280 SF retail space with drive-thru at signalized intersection.
      1702 W Laskey Rd, Toledo, OH 43613
      View Details
    • $12/mo

      Toledo Office/Commercial Space For Lease

      23,600 SF of versatile space in historic Toledo building.
      241 N Superior St, Toledo, OH 43604
      View Details
    • $16/mo

      Retail Suite at St. James

      Retail space available at St. James Club in Toledo, OH.
      7337 W. Bancroft St., Toledo, OH
      View Details

    FAQs

    What type of property is this?
    Shopping center - Retail space for lease in a well-maintained shopping center.
    Where is this shopping center located?
    The property is located at 821 W Alexis Rd Toledo, OH.
    What are key features of this property?
    This property features: Anchored by Kroger, Target (remodeled in 2021), and Office Max.; High occupancy rate indicates strong tenant demand.; Part of a 400,000 SF retail development.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Duke Wheeler
    Real Estate License ID: OH 2002018621
    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!