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Property profile & analytics
OFF-MARKET
Estimated value
$2,050,000
Manufacturing properties
201 Morris St, Toledo, OH 43604-8741
Entity Owned
8-yr Hold
Free & Clear
Property ID
US66-1692083
Property summary
AI-generated overview
This exceptional property at 201 Morris Street in Toledo, Ohio, offers a unique blend of executive office and warehouse space, ideal for a variety of businesses. Situated on a 0.86-acre lot, this single-story building boasts a total of 36,720 square feet, with 500 square feet currently available for lease. Built in 1927, the building features a 12-foot ceiling height, providing ample vertical space for storage or specialized equipment. The property benefits from 3-phase power, essential for many industrial operations. The zoning is designated as Limited Industrial, reflecting its suitability for a range of uses. The address is 201 Morris Street, conveniently located near Broadway Street, in Toledo, Ohio, 43602, within Lucas County. The property's multiple tenancy structure allows for flexibility and potential for shared space arrangements. The available space is perfect for a small business seeking a blend of office and warehouse functionality. The property's APN numbers are 56662
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1927
Total area
36,720 SF
Lot
0.86 ac (37,486 SF)
Zoning code
10-IL
APN
11-56734
UPID
US66-1692083
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
Current use
Occupant on record · Public records
-
Flying Rhino Coffee + Supply Cafe & Coffee Shop Specialty Food Shop
-
419Carbide (Bike/Boat/Book/etc) Store Building Supply
-
Stargazer Photography Photography Service (Bike/Boat/Book/etc) Store
-
JP Photography Studio (Bike/Boat/Book/etc) Store Photography Service
-
Maumee Bay Brew Pub Warehouse Warehouse & Storage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.18M
Blend (final)
Blend
$2.05M
Owner & transaction history
Applocations LLC · 8 yrs held
Applocations LLC
since 2018
4 recorded transactions
Zoning & alternative use
10-IL · Toledo, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$2.7M
+138.9%
Auto repair, garage
$2.7M
+132.7%
Neighborhood: shopping center
$2.6M
+127.5%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$2,720,000
Change: +139% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,650,000
Change: +133% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$2,590,000
Change: +127% · Conversion: Difficult
RETAIL STORES
$2,385,000
Change: +109% · Conversion: Moderate
OFFICE BUILDING
$2,325,000
Change: +104% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,240,000
Change: +97% · Conversion: Difficult
Blend value · Realmo final
$2.05M
Range $1.85M – $2.26M · ±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
$56 / 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
$11,179
Tax year 2023
Assessed value
$117,845
Assessed 2023
Previous assessed
$117,845
+0.0% YoY
Effective rate
9.49%
On assessed value
Assessed land
$13,160
Assessed improvement
$104,685
Land market value
$37,600
Improvement market value
$299,100
Total market value
$336,700
Applied tax rate
11.0000
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1927
Heating
NONE
Stories
2
Total area
36,720 SF
Lot
0.86 ac (37,486 SF)
Zoning code
10-IL
APN
11-56734
UPID
US66-1692083
Jurisdiction
LUCAS
Zoning & alternative use
10-IL · Toledo, OH
Zoning 10-IL · permitted uses
10-IL · 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
MEDICAL BUILDING
Est. value
$2.7M
AUTO REPAIR, GARAGE
Est. value
$2.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.6M
RETAIL STORES
Est. value
$2.4M
OFFICE BUILDING
Est. value
$2.3M
COMMERCIAL (GENERAL)
Est. value
$2.2M
MEDICAL BUILDING
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
1927
Heating
NONE
Stories
2
Lot
0.86 ac
Current owner
From public records · entity-resolved
Applocations LLC
Entity
Free & Clear · 8 yrs held
Mailing address
136 N HURON ST, TOLEDO, OH 43604-1139
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 4, 2023
—
Applocations LLC
—
Deed
related
$2,300,000 · Genoa Banking Co
Sep 14, 2022
—
Applocations LLC
—
Deed
related
$800,000 · Genoa Banking Co
Feb 28, 2018
—
Applocations LLC
Patjim Holdings Co
Warranty Deed
—
Sep 3, 2008
$400,000
Consolidated Biscuit Co
Blade Printing
Warranty Deed
—
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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