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    115 Reynolds Rd Toledo, OH 43615

    • Retail space
    • 24,452 SF
    • 2.20 lot acres
    For Sale
    View listing
    $2,280,000
    Value Estimation
    Location Intelligence
    Property ID
    US66-0258767
    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

    • WTO5 / Television Station
    • Pinnacle Treatment Center / Addiction Treatment Center
    • Toledo Treatment Services / Addiction Treatment Center / Local Medical Services
    • Ashley Whitman / Counselor / Psychologist
    • Dona Dunkin-Alba / Family Practice Physician

    Property Details for 115 Reynolds Rd

    Year built
    1977
    Lot size
    2.20 lot acres
    Property size
    24,452 SF
    Zone code
    10-CR
    Property type
    Retail space
    APN
    06-12081
    APU
    612081

    Description

    This 23,100 square foot shopping center in Toledo, Ohio, presents a compelling investment opportunity. Located at 115 S Reynolds Rd, 43615, this multi-tenant property boasts 100% occupancy and a strong NOI of $171,492, yielding a 7.50% cap rate. The asking price is $2,280,000, translating to $98.70 per square foot. Built in 1977 and significantly renovated in 2017/2018, the center benefits from substantial tenant investment, including a $500,000 build-out for Pinnacle Treatment Center, which recently signed a 5-year lease renewal at market rate. Dollar Tree, a major anchor tenant, occupies a significant portion of the space and enjoys above-average foot traffic, with their lease renewal scheduled for 2025. The property is exceptionally well-maintained, requiring no immediate capital expenditures, and offers a value-add opportunity through potential leasing of a currently vacant middle suite at market rent, further increasing NOI. This property represents a stable, high-performing investment with significant upside potential. The property is a Triple Net (NNN) lease.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $665,000

    • CAP approach

      CAP return
      Estimation
      6%
      $765,000
      6.5%
      $825,000
      7%
      $820,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $715,000
      Geo Method
      $935,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $790,000
      Retail
      $750,000
      Mixed-Use
      $775,000
      Hospitality
      $855,000
      Educational
      $735,000
      Residential Income
      $745,000
      Energy
      $850,000
      Income-Based Land
      $885,000
      Food Service
      $930,000

    Location Insight

    • Map
    • Local Demand
    City
    Toledo
    County
    Lucas
    State
    Ohio
    Longitude
    -83.6636
    Latitude
    41.6371
    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
    $32,035
    $93,240
    $248,920
    $342,160
    -
    $266,400
    $711,200
    $977,600

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    115 Reynolds Rd
    Toledo, OH 43615
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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
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