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Property profile & analytics
OFF-MARKET
Estimated value
$1,700,000
Warehouses
1333 Matzinger Rd, Toledo, OH 43612
Entity Owned
~
Est. High Equity
Property ID
US66-1948987
Property summary
AI-generated overview
The Henning Building, located at 1333 Matzinger Road in Toledo, Ohio (43612), presents a significant industrial leasing opportunity. This two-story warehouse, built in 1991, offers a total of 41,600 square feet, with 20,800 square feet currently available for lease. The property sits on a 3.96-acre lot and is zoned GI – General Industrial (APN: 88839
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1991
Total area
41,600 SF
Lot
3.96 ac (172,541 SF)
Zoning code
10-IG
APN
22-88839
UPID
US66-1948987
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.65M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.14M
Blend (final)
Blend
$1.70M
Owner & transaction history
Zrx Real Estate Management LLC
Zrx Real Estate Management LLC
since 2025
6 recorded transactions
Zoning & alternative use
10-IG · Toledo, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.6M
+77.7%
Commercial (general)
$2.5M
+70.9%
Retail stores
$2.2M
+49.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Toledo submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Toledo submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,650,000
ML approach
$1,650,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,485,000
Current use
OFFICE BUILDING
$2,635,000
Change: +78% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,535,000
Change: +71% · Conversion: Difficult
RETAIL STORES
$2,215,000
Change: +49% · Conversion: Moderate
Blend value · Realmo final
$1.70M
Range $1.53M – $1.87M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$41 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$41,429
Tax year 2023
Assessed value
$421,645
Assessed 2023
Previous assessed
$421,645
+0.0% YoY
Effective rate
9.83%
On assessed value
Assessed land
$27,930
Assessed improvement
$393,715
Land market value
$79,800
Improvement market value
$1,124,900
Total market value
$1,204,700
Applied tax rate
22.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1991
Heating
NONE
Stories
2
Total area
41,600 SF
Lot
3.96 ac (172,541 SF)
Zoning code
10-IG
APN
22-88839
UPID
US66-1948987
Jurisdiction
LUCAS
Zoning & alternative use
10-IG · Toledo, OH
Zoning 10-IG · permitted uses
10-IG · Toledo, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Toledo. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.5M
OFFICE BUILDING
Est. value
$2.6M
COMMERCIAL (GENERAL)
Est. value
$2.5M
RETAIL STORES
Est. value
$2.2M
WAREHOUSE, STORAGE Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1991
Heating
NONE
Stories
2
Lot
3.96 ac
Current owner
From public records · entity-resolved
Zrx Real Estate Management LLC
Entity
Mailing address
5857 FISHER RD, EAST SYRACUSE, NY 13057-2973
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 14, 2025
—
Zrx Real Estate Management LLC
1333 Matzinger Road Holdings LLC
Warranty Deed
—
Mar 21, 2025
—
1333 Matzinger Road Holdings LLC
1333 Matzinger Road LLC
Warranty Deed
—
May 30, 2024
$1,650,000
1333 Matzinger Road LLC
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Limited Warranty Deed
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—
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Deed Of Trust
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Deed Of Trust
related
$272,000 · Fifth Third Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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