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    516 State St Toledo, OH 43604

    For Sale
    $325,000

    1.25-acre commercial lot, prime location.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    366
    This 1.25-acre commercial land parcel presents a unique development opportunity in the heart of Toledo, Ohio. Located at 516 State Street, between Canton and 12th Streets, the property boasts approximately 387 feet of frontage on State Street and a depth of 142 feet, including a corner lot at State and Canton Streets. The site is zoned IL - Limited Industrial/Commercial, allowing for a variety of potential uses. Its strategic location places it just two blocks from the existing and expanding Federal Courthouse on Spielbush Avenue, ensuring high visibility and accessibility. This property is situated within a Community Reinvestment Area (CRA), making it eligible for the Toledo Expansion Incentive Program and the Municipal Jobs Creation Tax Credit Program. The proximity to city and county buildings, as well as county and federal courthouses, further enhances its appeal and potential for significant return on investment. The asking price for this exceptional development opportunity is $325,000. This is a rare chance to acquire a substantial parcel in a rapidly developing area of Downtown Toledo.

    Property Features for 516 State St

    General Information

    Property type
    Land
    Lot Size
    54,450 SF

    HighLights

    • 1.25‑acre commercial land parcel in Toledo, OH, at 516 State Street.
    • Approximately 387 feet of State Street frontage and 142 feet deep, including a corner lot.
    • Zoned IL - Limited Industrial/Commercial, offering diverse development options.
    • Located two blocks from the Federal Courthouse, providing high visibility and accessibility.
    • Situated in a Community Reinvestment Area (CRA), eligible for incentive programs.
    • Asking price: $325,000.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Law Firm Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Toledo
    County
    Lucas
    State
    Ohio
    Longitude
    -83.5391889
    Latitude
    41.659502

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    FAQs

    What type of property is this?
    Land - 1.25-acre commercial lot, prime location.
    Where is this land located?
    The property is located at 516 State St Toledo, OH.
    What is the asking price?
    The asking price for this property is $325,000.
    What are key features of this property?
    This property features: 1.25-acre commercial land parcel in Toledo, OH, at 516 State Street.; Approximately 387 feet of State Street frontage and 142 feet deep, including a corner lot.; Zoned IL - Limited Industrial/Commercial, offering diverse development options.
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    Toledo, OH 43604
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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
    516 State St Toledo, OH 43604
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