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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2249 Reynolds Rd Toledo, OH 43615

    • Medical offices
    • 6,480 SF
    • 0.63 lot acres
    For Sale
    View listing
    $99,500
    Last Sale
    Apr 14, 2022
    $1,775,000
    Value Estimations
    Cap Rate Potential
    3.9%
    Medical offices
    Location Intelligence
    Property ID
    US66-5813459
    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

    • U.S. Renal Care / Dialysis Center

    Property Details for 2249 Reynolds Rd

    Year built
    2000
    Lot size
    0.63 lot acres
    Property size
    6,480 SF
    Zone code
    10-CO
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    02-71724
    APU
    271724

    Description

    This exceptional 0.635-acre commercial land parcel, located at 2249 N Reynolds Rd, Toledo, Ohio 43615, presents a unique investment opportunity. Priced at $99,500, this property is ideal for new office construction. The lot offers convenient easement access. Shared access is provided via a curb cut on Reynolds Road with an adjacent lot, facilitating easy ingress and egress. Furthermore, an easement through this lot provides access to Rondeau, enhancing its connectivity and potential for development. The property's location in Lucas County, Ohio, offers proximity to established businesses, including Clayton and US Renal Care, which are accessible via an easement through Innovative Reynolds Road Associates. This strategic location and convenient access make this property an attractive option for developers seeking a well-situated site for a new office building. The property's size and accessibility make it a highly desirable location for a variety of commercial ventures. Detailed property information is available upon request. This is a rare opportunity to acquire a prime commercial lot in a thriving area of Toledo.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,535,000
      ML approach
      $1,575,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,000,000
      6.5%
      $925,000
      7%
      $860,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $950,000
      Market price range: $246k - $951k

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $1,020,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Toledo
    County
    Lucas
    State
    Ohio
    Longitude
    -83.6682
    Latitude
    41.6635
    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
    $29,752
    $32,410
    $285,845
    $318,255
    -
    $92,600
    $816,700
    $909,300

    Comparable in this City

    • Value Estimation
      $205,000
      0.23 Acres

      3415 Holland Sylvania Rd

      MEDICAL BUILDING • 0.23 Acres
      3415 Holland Sylvania Rd, Toledo, OH 43615
      View Details
    • Value Estimation
      $120,000
      2,960 SF

      1634 Ralston Cir

      MEDICAL BUILDING • 2,960 SF
      1634 Ralston Cir, Toledo, OH 43615
      View Details
    • Value Estimation
      $120,000
      0.19 Acres

      1642 Ralston Cir

      MEDICAL BUILDING • 0.19 Acres
      1642 Ralston Cir, Toledo, OH 43615-3801
      View Details
    • Value Estimation
      $250,000
      4,895 SF

      3924 Airport Hwy

      MEDICAL BUILDING • 4,895 SF
      3924 Airport Hwy, Toledo, OH 43615-8500
      View Details
    • Value Estimation
      $275,000
      3,432 SF

      5636 Central Ave

      MEDICAL BUILDING • 3,432 SF
      5636 Central Ave, Toledo, OH 43615-1506
      View Details
    • Value Estimation
      $310,000
      12,000 SF

      5532 Central Ave

      MEDICAL BUILDING • 12,000 SF
      5532 Central Ave, Toledo, OH 43615-0713
      View Details

    Similar Nearby for Sale

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      Cozy mobile home in a 55+ community with modern updates.
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    • $850,000
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      Office Building and Land For Sale

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    • $1,500,000
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    • $425,000
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      6309 Bancroft St

      Multifamily properties • 6.68 Acres
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    • Contact for pricing

      Land Near I-475 Interchange

      Commercial land adjacent to I-475/Dorr Street Interchange.
      6311 Dorr St, Toledo, OH 43615
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    • $400,000

      Cleared Land Site For Sale

      Cleared land site with high traffic and excellent highway access.
      5101 Dorr St, Toledo, OH 43615
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      7,600 SF

      Toledo Office Building - West Toledo

      Prime West Toledo Office Space - Multiple Suites Available
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      View Details
    • $6,696 /Mo
      34,944 SF

      Toledo Office Space for Lease

      Prime Toledo Office, 1,068 SF Max
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    • $8 SF/Yr
      25,220 SF

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      View Details
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      18,032 SF

      Toledo Executive Office & Warehouse Space

      Prime Toledo location, flexible suites available
      3171 Republic Blvd, Toledo, OH 43615
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    • Contact for pricing
      18,151 SF

      Ottawa Hills Place: Retail & Office Space

      Toledo's Premier Boutique Retail & Office Opportunity
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    • $14 SF/Yr
      2,184 SF

      Office Space on Airport Highway

      Prime office space for lease in Toledo, Ohio.
      5577 Airport Hwy, Toledo, OH 43615
      View Details
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    2249 Reynolds Rd
    Toledo, OH 43615
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    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
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