Multi-Tenant Retail
920 West Alexis Road, Toledo, OH 43612
New
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Multi-tenant retail building anchored by Dollar Tree and Rainbow Shops, with multiple access points and pylon signage.
Type:Retail
Property size:
27,703 SFPrice / SF:
$92/SF- Added:
- Jun 30, 2026
- Days on Market:
- 7
- Last Refresh:
- Jul 4 at 3:26 am
Property Features for 920 West Alexis Road
General Information
- Standard status
- Active
- Size
- 27,703 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1968
Listing office Reichle | Klein Group (419) 861-1100
Listing date Jun 30, 2026
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
HighLights
- 1968‑built, 4‑tenant retail building anchored by Dollar Tree and Rainbow Shops
- 95% occupied retail property with available units in a multi‑access shopping center
- Pylon signage on 2 major roadways and multiple access points along West Alexis Rd
- Traffic count of 21,220 on Alexis Rd (2024) and 16,405 on Lewis Ave (2024)
- Recent nearby development includes retailers such as Ross, Five Below, Michael’s, Hibbett Sports, and Dairy Queen Grill & Chill (2024‑2025)
- Within 5 miles: 197,300 people and 79,525 households with average household income of $48,619
Overview
This for-sale retail building is configured as a four-tenant shopping center, currently described as 95% occupied. The property is anchored by Dollar Tree and Rainbow Shops, providing an established retail mix within a single storefront-style development.
The center is located on West Alexis Road, a major retail corridor serving North Toledo and Southeast Michigan. It offers multiple access points and pylon signage on two major roadways, supporting visibility to passing traffic. Traffic counts are provided for Alexis Rd and Lewis Ave (both 2024 figures).
With financial information available upon qualified request, the property is positioned for buyers seeking a retail asset with existing tenant occupancy and prominent road visibility. The surrounding trade area has seen notable recent and ongoing area development, including additions such as Ross Dress for Less, Five Below, Michaels, Hibbett Sports, Smoothie King, Cinnabon (2026), 7 Brew, and Dairy Queen Grill & Chill (2024-2025), along with major employers in the region. This combination of in-place anchors, storefront tenants, and corridor-level access can support a range of retail and service tenant needs consistent with an occupied neighborhood shopping center.
The center is located on West Alexis Road, a major retail corridor serving North Toledo and Southeast Michigan. It offers multiple access points and pylon signage on two major roadways, supporting visibility to passing traffic. Traffic counts are provided for Alexis Rd and Lewis Ave (both 2024 figures).
With financial information available upon qualified request, the property is positioned for buyers seeking a retail asset with existing tenant occupancy and prominent road visibility. The surrounding trade area has seen notable recent and ongoing area development, including additions such as Ross Dress for Less, Five Below, Michaels, Hibbett Sports, Smoothie King, Cinnabon (2026), 7 Brew, and Dairy Queen Grill & Chill (2024-2025), along with major employers in the region. This combination of in-place anchors, storefront tenants, and corridor-level access can support a range of retail and service tenant needs consistent with an occupied neighborhood shopping center.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $279.2k | $10.08 |
| − Vacancy | −$21.2k | −$0.77 |
| EGI | $258.0k | $9.31 |
| − OpEx | −$77.4k | −$2.79 |
| NOI | $180.6k | $6.52 |
27,703 SF · lease $10.08/SF/yr · vacancy 7.60% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.58M
$2.26M – $3.01M
NOI $180,616 @ 7.0% cap · market cap 7.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.61M
$4.03M – $5.38M
NOI $322,729 @ 7.0% cap · market cap 12.53%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Shopping centers
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
- -83.5654555
- Latitude
- 41.7219311
Nearby Similar for Sale
FAQs
What type of property is this?
Shopping center - Multi-tenant retail building anchored by Dollar Tree and Rainbow Shops, with multiple access points and pylon signage.
Where is this shopping center located?
The property is located at 920 West Alexis Road Toledo, OH.
What is the asking price?
The asking price for this property is $2,575,000.
What are key features of this property?
This property features: 1968‑built, 4‑tenant retail building anchored by Dollar Tree and Rainbow Shops; 95% occupied retail property with available units in a multi‑access shopping center; Pylon signage on 2 major roadways and multiple access points along West Alexis Rd
