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    115 Reynolds Rd Toledo, OH 43615

    Sponsored
    For Sale
    $2,280,000

    Toledo Retail Center - High Occupancy

    Property size:
    23,100 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This 23,100 square foot shopping center in Toledo, Ohio, presents a compelling investment opportunity. Located at 115 S Reynolds Rd, 43615, this multi-tenant property boasts 100% occupancy and a strong NOI of $171,492, yielding a 7.50% cap rate. The asking price is $2,280,000, translating to $98.70 per square foot. Built in 1977 and significantly renovated in 2017/2018, the center benefits from substantial tenant investment, including a $500,000 build-out for Pinnacle Treatment Center, which recently signed a 5-year lease renewal at market rate. Dollar Tree, a major anchor tenant, occupies a significant portion of the space and enjoys above-average foot traffic, with their lease renewal scheduled for 2025. The property is exceptionally well-maintained, requiring no immediate capital expenditures, and offers a value-add opportunity through potential leasing of a currently vacant middle suite at market rent, further increasing NOI. This property represents a stable, high-performing investment with significant upside potential. The property is a Triple Net (NNN) lease.

    Property Features for 115 Reynolds Rd

    General Information

    Property type
    Lifestyle centers
    Square Feet
    23,100 SF

    Building Details

    Year Built/Renovated
    1977/2017

    HighLights

    • Value‑Add Opportunity: Significant NOI growth potential through leasing the vacant middle suite at market rates.
    • New Lease Renewals: Pinnacle Treatment Center renewed for five years at market rent; Dollar Tree renewal in 2025.
    • Strong Tenant Performance: Dollar Tree demonstrates superior foot traffic compared to Ohio and national averages.
    • Minimal Capital Needs: Property is well‑maintained, requiring no immediate capital expenditures; $500,000 invested in Pinnacle Treatment Center improvements.
    Property Profile Location Intelligence

    Current Use by Public Records

    WTO5 Television Station Pinnacle Treatment Center Addiction Treatment Center Toledo Treatment Services Counselor Ashley Whitman Counselor Dona Dunkin-Alba Family Practice Physician

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Toledo
    County
    Lucas
    State
    Ohio
    Longitude
    -83.6636639
    Latitude
    41.6371698

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    FAQs

    What type of property is this?
    Lifestyle center - Toledo Retail Center - High Occupancy
    Where is this lifestyle center located?
    The property is located at 115 Reynolds Rd Toledo, OH.
    What is the asking price?
    The asking price for this property is $2,280,000.
    What are key features of this property?
    This property features: Value-Add Opportunity: Significant NOI growth potential through leasing the vacant middle suite at market rates.; New Lease Renewals: Pinnacle Treatment Center renewed for five years at market rent; Dollar Tree renewal in 2025.; Strong Tenant Performance: Dollar Tree demonstrates superior foot traffic compared to Ohio and national averages.
    Request Owner's contact information
    115 Reynolds Rd Toledo, OH 43615
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    Toledo, OH 43615
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    Realmo Value Estimation

    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.

    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.

    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
    115 Reynolds Rd Toledo, OH 43615
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