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

    1120 Cherry St Toledo, OH 43608

    • Warehouses
    • 61,688 SF
    • 1.77 lot acres
    For Sale
    View listing
    $5
    Last Sale
    Oct 27, 2022
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1166257
    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

    • Reliable Belting & Trans / Industrial Equipment Supplier / Automation Company
    • Wurtec / Manufacturer

    Property Details for 1120 Cherry St

    Year built
    1965
    Lot size
    1.77 lot acres
    Property size
    61,688 SF
    Zone code
    10-IG
    Property type
    Warehouses
    APN
    18-53227
    APU
    1853227

    Description

    This well-maintained, single-story industrial warehouse building, located in Toledo's Lucas County submarket, offers 39,000 total square feet, with 13,200 square feet currently vacant and immediately available. Built in 1977, the property sits on a 1.61-acre lot and features a 20-foot clear ceiling height, ideal for various uses. The space is divisible, with a minimum leasable area of 4,400 square feet and a maximum contiguous space of 13,200 square feet, making it suitable for single or multi-tenant occupancy. The building's concrete construction ensures durability and longevity. Its strategic location provides excellent access to Greenbelt Parkway and Interstate 280, enhancing logistics and transportation efficiency. The property includes 17 total parking spaces and a sizable outdoor laydown area, adding further value and flexibility. Zoned 10-IG, this property is perfectly suited for contractors' storage, distribution and warehousing, light manufacturing, and general storage needs. The property's address is easily accessible via Seneca St and Cherry St, and its APN is 1853227. This is a prime opportunity for businesses seeking efficient and well-located warehouse space in the Toledo area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $520,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Toledo
    County
    Lucas
    State
    Ohio
    Longitude
    -83.5344
    Latitude
    41.662
    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
    $29,383
    $13,370
    $293,160
    $306,530
    -
    $38,200
    $837,600
    $875,800

    Comparable in this City

    • Value Estimation
      $65,000
      5,748 SF

      1566 Ridgewood Ave

      WAREHOUSE, STORAGE • 5,748 SF
      1566 Ridgewood Ave, Toledo, OH 43608-2287
      View Details
    • Value Estimation
      $435,000
      0.12 Acres

      1402 Lagrange St

      WAREHOUSE, STORAGE • 0.12 Acres
      1402 Lagrange St, Toledo, OH 43608-2928
      View Details
    • Value Estimation by Request
      0.06 Acres

      921 George St

      WAREHOUSE, STORAGE • 0.06 Acres
      921 George St, Toledo, OH 43608
      View Details
    • Value Estimation
      $210,000
      1.41 Acres

      3595 Expy Dr

      WAREHOUSE, STORAGE • 1.41 Acres
      3595 Expy Dr, Toledo, OH 43608
      View Details
    • Value Estimation
      $285,000
      16,089 SF

      1401 Lagrange St

      WAREHOUSE, STORAGE • 16,089 SF
      1401 Lagrange St, Toledo, OH 43608-2927
      View Details
    • Value Estimation
      $220,000
      0.10 Acres

      1307 Walnut St

      WAREHOUSE, STORAGE • 0.10 Acres
      1307 Walnut St, Toledo, OH 43608-2967
      View Details

    Similar Nearby for Sale

    • $295,000
      5,496 SF

      Lagrange Street Warehouse Investment

      Toledo Warehouse, $295,000
      3532 Lagrange St, Toledo, OH 43608
      View Details
    • Contact for pricing
      39,000 SF

      Industrial Building Near Greenbelt Parkway

      Well-maintained industrial building suitable for various uses, accessible location.
      1120 Cherry St, Toledo, OH 43608
      View Details
    • $240,000

      Updated Multi-Unit Investment Property

      Renovated multi-unit property with income potential in Toledo, OH.
      1721 Walnut St, Toledo, OH 43608
      View Details
    • $250,000
      5,496 SF

      Former Auto Repair Facility

      Auto repair and sales lot with two buildings on 0.51 acres.
      3532-3548 Lagrange St, Toledo, OH 43608
      View Details
    • $75,000

      Duplex Investment Opportunity

      Duplex with two units, each featuring two bedrooms and one bathroom.
      3250 Stickney Ave, Toledo, OH 43608
      View Details
    • $67,000

      Corner Building with Apartments

      Commercial building with apartments and former storefront for sale.
      3201 Warsaw St, Toledo, OH 43608
      View Details

    Similar Nearby for Lease

    • $4 SF/Yr
      39,798 SF

      Lagrange Street Industrial Warehouses

      Large Toledo warehouse space available.
      1402 Lagrange St, Toledo, OH 43608
      View Details
    • Contact for pricing
      8,972 SF

      Freestanding Retail Building For Lease

      8,972 SF freestanding building suitable for retail or commercial use.
      3136 Lagrange St, Toledo, OH 43608
      View Details
    • Contact for pricing
      11,093 SF

      Retail Space Near Medical Center

      Retail space with drive-thru and ample parking near hospital.
      1525 Cherry St, Toledo, OH 43608
      View Details
    • $9 SF/Yr
      3,000 SF

      Retail Space in Toledo, OH

      Retail space available with diverse anchor tenants in Toledo.
      627-631 E Manhattan Blvd, Toledo, OH 43608
      View Details
    • $9 SF/Yr
      219,810 SF

      Manhattan Plaza Retail Center

      Toledo, Ohio Strip Mall - Multiple Spaces Available
      525-701 Manhattan Blvd, Toledo, OH 43608
      View Details
    • $12 SF/Yr
      6,278 SF

      Toledo Retail Space - Cherry Street

      Prime 6,278 SF Retail Space in Seaway Marketplace
      1707 Cherry St, Toledo, OH 43608
      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.
    1120 Cherry St
    Toledo, OH 43608
    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.