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    2450 Reynolds Rd Toledo, OH 43614

    Sponsored
    For Sale
    $2,950,000

    Former Rite Aid: Redevelopment Opportunity

    Property size:
    14,564 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This 14,564 square foot former Rite Aid pharmacy in Toledo, Ohio, presents a compelling redevelopment or lease opportunity. Located at the highly visible, signalized intersection of S. Reynolds Road and Heatherdowns Boulevard, the property benefits from exceptional daily traffic counts exceeding 53,000 vehicles. Its convenient drive-thru lane and two large pylon signs ensure maximum visibility. The site enjoys direct access to I-80/90 (Ohio Turnpike), enhancing accessibility. A strong retail synergy exists with nearby national tenants including Kroger, Goodwill, Huntington Bank, and a new 150,000 square-foot Amazon facility. The 5-mile trade area boasts a substantial population of 153,802 residents and 84,038 daytime employees, with an average household income of $91,426. The property's proximity to several large apartment complexes (Alt Stone Bridge, The Woodlands, Genesis Village, and others) provides a readily available residential customer base. The asking price is $2,950,000 ($202.55/sq ft) with a NNN lease type. This single-tenant property offers significant potential for investors and developers alike. The property is situated at 2450 S Reynolds Rd, Toledo, OH 43614.

    Property Features for 2450 Reynolds Rd

    General Information

    Property type
    Individual retail properties
    Square Feet
    14,564 SF

    HighLights

    • 14,564 SF former Rite Aid, redevelopment/lease opportunity.
    • High‑visibility location at S. Reynolds Rd & Heatherdowns Blvd, exceeding 53,000 VPD.
    • Drive‑thru, two pylon signs, I‑80/90 access.
    • Strong retail synergy, nearby Kroger, Goodwill, Huntington Bank, and new 150,000 SF Amazon facility.
    • 5‑mile trade area: 153,802 residents, 84,038 daytime employees, $91,426 avg. household income.
    • $2,950,000 asking price ($202.55/SF), NNN lease.
    Property Profile Location Intelligence

    Current Use by Public Records

    Peacock Graphics Graphic Designer Rite Aid Drug Store Dr. Munir Ahmad, ... Family Practice Physician Adas Mohammad MD Internist Reynolds Clinic Medical Center

    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
    -83.6655242
    Latitude
    41.5956872

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    FAQs

    What type of property is this?
    Individual retail property - Former Rite Aid: Redevelopment Opportunity
    Where is this individual retail property located?
    The property is located at 2450 Reynolds Rd Toledo, OH.
    What is the asking price?
    The asking price for this property is $2,950,000.
    What are key features of this property?
    This property features: 14,564 SF former Rite Aid, redevelopment/lease opportunity.; High-visibility location at S. Reynolds Rd & Heatherdowns Blvd, exceeding 53,000 VPD.; Drive-thru, two pylon signs, I-80/90 access.
    (419) 346-5826
    Request Owner's contact information
    2450 Reynolds Rd Toledo, OH 43614
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    Toledo, OH 43614
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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
    2450 Reynolds Rd Toledo, OH 43614
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