2040 Ottawa River Rd Toledo, OH 43611
Property Lookup
Property profile & analytics
2040 Ottawa River Rd Toledo, OH 43611
- Strip malls
- 11,372 SF
- 1.19 lot acres
Property ID
US66-0131993
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.
Location Intelligence
Current Use by Public Records
- Marco's Pizza / Restaurant
- Verizon / Mobile Phone Store / Electronics & Wireless Store
- Margie's Store / Home Decor Store / Department Store
Property Details for 2040 Ottawa River Rd
- Year built
- 1973
- Lot size
- 1.19 lot acres
- Property size
- 11,372 SF
- Zone code
- 10-CR
- Property type
- Strip malls
- Property subtype
- Shopping centers
- APN
- 22-78071
- APU
- 2278071
Description
This 11,116 square foot retail shopping center presents a compelling investment opportunity in Toledo, Ohio. Located at 2040 Ottawa River Rd, 43611, this Class C, single-story building sits on a one-acre lot and boasts a strong tenant mix including Verizon Wireless, Marco's Pizza, and River Diner. The property currently enjoys 75% occupancy with three tenants and one vacant 6,000 square foot unit, offering significant value-add potential. The asking price is $1,250,000, translating to $112.45 per square foot. The Net Operating Income (NOI) is $34,814. Lease terms vary, with Verizon's lease expiring 10/31/2025 (with a 3-year option and 10% increase), Marco's Pizza's lease expiring 8/31/2026 (with two 5-year options and 2% annual increases), and River Diner's lease expiring 12/31/2027. The property benefits from high traffic counts (11,000+ vehicles daily) and strong demographics, with over 33,000 residents and 21,000 daytime employees within a three-mile radius. Average household income within one mile exceeds $64,000. The roof was replaced in 2021 and includes a transferable 20-year warranty. HVAC systems are relatively new or recently updated in Marco's Pizza and River Diner, and Verizon's HVAC was installed 4-5 years ago. Seller financing is available at 75% Loan-to-Value (LTV). This property offers a blend of stable income and significant upside potential for a savvy investor.
Value Estimations
based on Realmo’s proprietary methodology
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,165,000
- AI Estimate
- $629,000
Market price range: $327k - $1.20MMarket price range: $228k - $752k -
Alternative Use
- Use
- Estimation
- NEIGHBORHOOD: SHOPPING CENTER
- $800,000 Current use
- MEDICAL BUILDING
- $840,000 Change: +5% Conversion: Difficult
- AUTO REPAIR, GARAGE
- $820,000 Change: +2% Conversion: Difficult
- RETAIL STORES
- $740,000 Change: -8% Conversion: Easy
- OFFICE BUILDING
- $720,000 Change: -10% Conversion: Moderate
- COMMERCIAL (GENERAL)
- $695,000 Change: -14% Conversion: Easy
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Location Insight
- Map
- Local Demand
- City
- Toledo
- County
- Lucas
- State
- Ohio
- Longitude
- -83.498
- Latitude
- 41.708
- 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
$24,255
$19,355
$232,155
$251,510
-
$55,300
$663,300
$718,600
