Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1116 Smt St Toledo, OH 43604-1816

    • Retail space
    • 0.07 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2425125
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Triangular Scale Tape / Contractor
    • Triangular Scale Tape, LLC / Contractor

    Property Details for 1116 Smt St

    Lot size
    0.07 lot acres
    Zone code
    10-IG
    Property type
    Retail space
    APN
    15-42964
    APU
    1542964

    Description

    This exceptional 7,132 square foot retail property, located at 1116 N Summit St in Toledo, Ohio, presents a compelling investment opportunity. Priced at $399,000 ($55.95/SF), this single-story building, constructed in 1907, sits on a 0.23-acre lot and is zoned IG – General Industrial. The structure features brick exterior walls, block and wood framing, and a built-up roof. Interior finishes include concrete and wood floors, and a 12-foot ceiling height. The property includes 240V power and one restroom (requiring updates). A single loading dock is situated at the rear of the building. There are no overhead doors or sprinklers. Exterior signage is present, and the building is currently vacant, with an occupancy date of 30 days post-closing. The property includes four parcels (Assessor Numbers: 01030001, 01030005, 01030004) and has a total annual tax liability of $2,910.99. This prime location in Toledo, Ohio (zip code 43604) offers significant potential for a variety of retail uses. The property's size, location, and price point make it an attractive investment for discerning buyers. Further details are available upon request.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Toledo
    County
    Lucas
    State
    Ohio
    Longitude
    -83.5237
    Latitude
    41.6577
    CBSA code
    45780
    CBSA name
    TOLEDO, OH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $212
    $1,015
    $0.00
    $1,015
    -
    $2,900
    $0.00
    $2,900

    Comparable in this City

    • Value Estimation by Request
      0.08 Acres

      644 Woodruff Ave

      RETAIL STORES (PERSONAL SERVICES) • 0.08 Acres
      644 Woodruff Ave, Toledo, OH 43604-5344
      View Details
    • Value Estimation by Request
      0.08 Acres

      628 Woodruff Ave

      RETAIL STORES (PERSONAL SERVICES) • 0.08 Acres
      628 Woodruff Ave, Toledo, OH 43604-5344
      View Details
    • Value Estimation by Request
      0.05 Acres

      121 Tecumseh St

      RETAIL STORES (PERSONAL SERVICES) • 0.05 Acres
      121 Tecumseh St, Toledo, OH 43604-8615
      View Details
    • Value Estimation by Request

      Washington St

      RETAIL STORES (PERSONAL SERVICES)
      Washington St, Toledo, OH 43604
      View Details
    • Value Estimation by Request
      0.26 Acres

      1320 Jackson St

      RETAIL STORES (PERSONAL SERVICES) • 0.26 Acres
      1320 Jackson St, Toledo, OH 43604-5244
      View Details
    • Value Estimation by Request
      0.09 Acres

      380 Erie St

      RETAIL STORES (PERSONAL SERVICES) • 0.09 Acres
      380 Erie St, Toledo, OH 43604-4634
      View Details

    Similar Nearby for Sale

    • $1,950,000
      12,240 SF

      Historic Building in Downtown Toledo

      Prime retail/restaurant opportunity in a vibrant downtown location.
      519 Monroe St, Toledo, OH 43604
      View Details
    • $799,000
      19,800 SF

      Warehouse District Historical Building

      19,800 SF historical building in Toledo's Warehouse District.
      20 S Ontario St, Toledo, OH 43604
      View Details
    • $850,000
      23,600 SF

      Historic Building in Downtown Toledo

      Adaptable historic building ideal for retail or office redevelopment.
      241 N Superior St, Toledo, OH 43604
      View Details
    • $650,000
      14,970 SF

      Toledo Doggie Daycare & Boarding

      Downtown Toledo doggie daycare and boarding facility for sale.
      1707 Monroe St, Toledo, OH 43604
      View Details
    • $3,072,000
      9,645 SF

      Toledo Retail Corridor NNN Lease

      NNN leased retail property in Toledo's prime retail corridor.
      5290 Monroe St, Toledo, OH 43604
      View Details
    • Contact for pricing
      21,888 SF

      Downtown Toledo Bank Building

      Historic 21,888 SF Bank, Prime Location
      245 Superior St, Toledo, OH 43604
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      172,000 SF

      Prime Downtown Commercial Space Available

      Retail, office, and medical space in downtown Toledo.
      100 North Summit St, Toledo, OH 43604
      View Details
    • $12 SF/Yr
      29,920 SF

      Versatile Retail/Office/Medical Space Available

      Adaptable space suitable for retail, office, or medical tenants.
      152 N Summit St, Toledo, OH 43604
      View Details
    • Contact for pricing
      19,200 SF

      Downtown Toledo Retail Space Available

      Retail space for lease in renovated downtown Toledo building.
      710 Monroe St, Toledo, OH 43604
      View Details
    • $18 SF/Yr
      2,718 SF

      Downtown Toledo Retail Space Available

      Mixed-use property in the Warehouse District near Fifth Third Field.
      608 Market St, Toledo, OH 43604
      View Details
    • Contact for pricing
      30,780 SF

      Jefferson Avenue Retail Space

      Downtown Toledo Retail Opportunity: 4,928 SF Available
      725 Jefferson Ave, Toledo, OH 43604
      View Details
    • $19 SF/Yr
      90,882 SF

      Downtown Toledo Retail/Office Space

      First-floor retail/office space in a renovated mixed-use building.
      15 S Ontario St, Toledo, OH 43604
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1116 Smt St
    Toledo, OH 43604-1816
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.