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115 Reynolds Rd Toledo, OH 43615

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Toledo Retail Center - High Occupancy

Property size:
23,100 SF

Property Features for 115 Reynolds Rd

General Information

Property type
Lifestyle centers
Square Feet
23,100 SF

Building Details

Year Built/Renovated
1977/2017

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Listing Contact
Max Lippitt
Max Lippitt

Listing Agency: Landmark Commercial Real Estate Services Listing Agent: Max Lippitt

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Property Insight Report

Overview

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 Profile Insight Report Location Intelligence

Current Use by Public Records

WTO5 Television Studio Pinnacle Treatment Center Medical Clinic Toledo Treatment Services Counselor Ashley Whitman Counselor Dona Dunkin-Alba Pediatrician

Suggested Use

Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

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.
(248) 351-2086 Call to check price and availability
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