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

    240 Alexis Rd Toledo, OH 43612-5111

    • Strip malls
    • 9,300 SF
    • 0.92 lot acres
    OFF-MARKET
    Last Sale
    Jan 03, 2024
    $800,000
    Value Estimations
    $890,000
    Show details
    Cap Rate Potential
    8.9%
    Strip malls
    Location Intelligence
    Property ID
    US66-1086647
    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

    • Midwest Dental Center / Dental Clinic
    • Smoke Depot / Tobacco Shop / Smoke Shop
    • J-Cups Pizza / Pizza Restaurant / Pizza Delivery
    • Express Employment Professionals / Recruiter / Temp Agency
    • Midwest Dental Center: Gant Pam DDS / Dentist

    Property Details for 240 Alexis Rd

    Year built
    1999
    Lot size
    0.92 lot acres
    Property size
    9,300 SF
    Zone code
    10-CR
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    22-01561
    APU
    2201561

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $800,000
      ML approach
      $800,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,180,000
      6.5%
      $1,090,000
      7%
      $1,010,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $918,000
      Market price range: $267k - $983k
      AI Estimate
      $496,000
      Market price range: $186k - $615k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $655,000
      Current use
      MEDICAL BUILDING
      $690,000
      Change: +5% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $675,000
      Change: +3% Conversion: Difficult
      OFFICE BUILDING
      $590,000
      Change: -10% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $565,000
      Change: -14% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Toledo
    County
    Lucas
    State
    Ohio
    Longitude
    -83.5531
    Latitude
    41.7222
    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
    $19,615
    $27,125
    $171,185
    $198,310
    -
    $77,500
    $489,100
    $566,600

    Comparable in this City

    • Value Estimation
      $245,000
      4,772 SF

      3750 Jackman Rd

      SHOPPING CENTER, STRIP CENTER • 4,772 SF
      3750 Jackman Rd, Toledo, OH 43612-1047
      View Details
    • Value Estimation
      $115,000
      4,202 SF

      717 Phillips Ave

      SHOPPING CENTER, STRIP CENTER • 4,202 SF
      717 Phillips Ave, Toledo, OH 43612-1332
      View Details
    • Value Estimation
      $235,000
      4,200 SF

      1640 Sylvania Ave

      SHOPPING CENTER, STRIP CENTER • 4,200 SF
      1640 Sylvania Ave, Toledo, OH 43612-1586
      View Details
    • Value Estimation
      $630,000
      30,359 SF

      914 Laskey Rd

      SHOPPING CENTER, STRIP CENTER • 30,359 SF
      914 Laskey Rd, Toledo, OH 43612
      View Details
    • Value Estimation
      $70,000
      4,040 SF

      936 Sylvania Ave

      SHOPPING CENTER, STRIP CENTER • 4,040 SF
      936 Sylvania Ave, Toledo, OH 43612-1317
      View Details
    • Value Estimation
      $70,000
      4,010 SF

      936 Sylvania Ave

      SHOPPING CENTER, STRIP CENTER • 4,010 SF
      936 Sylvania Ave, Toledo, OH 43612-1317
      View Details

    Similar Nearby for Sale

    • $1,800,000
      19,520 SF

      Alexis Road Shopping Center

      Thriving Toledo Shopping Center
      309-337 Alexis Rd, Toledo, OH 43612
      View Details
    • Contact for pricing
      10.00 Acres

      Toledo Speedway Retail Development

      10-Acre Prime Retail Development Site
      5639 Benore Rd, Toledo, OH 43612
      View Details
    • $898,500
      10,004 SF

      Retail Property with Drive-Through Pharmacy

      Well-maintained 10,000 SF retail property with drive-through.
      5111 Benore Rd, Toledo, OH 43612
      View Details
    • $325,000
      1,768 SF

      Freestanding Former Restaurant Building

      Freestanding 1,768 SF former restaurant building for sale.
      1641 W Sylvania Ave, Toledo, OH 43612
      View Details
    • $699,000
      9,920 SF

      Retail Property on Alexis Road

      Retail property for sale with 9,920 square feet.
      1260 W Alexis Rd, Toledo, OH 43612
      View Details
    • $252,000
      2,800 SF

      North Toledo Retail Building

      2,800 SF retail building with drive-thru in North Toledo.
      5870 Skyview Dr, Toledo, OH 43612
      View Details

    Similar Nearby for Lease

    • $8 SF/Yr
      13,000 SF

      Anchored Shopping Center Retail Space

      Retail space available in a super regional shopping center.
      817-851 W Alexis Rd, Toledo, OH 43612
      View Details
    • $8 SF/Yr
      90,507 SF

      Toledo Retail Space: North Towne Commons

      High-traffic retail space, multiple units available.
      821 Alexis Rd, Toledo, OH 43612
      View Details
    • $13 SF/Yr
      6,591 SF

      Retail Space in Northstar Plaza

      Highly visible retail space with frontage on Alexis Rd.
      5733-5737 Lewis Ave, Toledo, OH 43612
      View Details
    • Contact for pricing
      3,000 SF

      Retail Space in High-Traffic Center

      Retail space available in a highly trafficked community center.
      1633 West Laskey Rd, Toledo, OH 43612
      View Details
    • $15 SF/Yr
      24,620 SF

      Alexis Plaza Retail Space

      West Toledo Retail Opportunity: 1,120 SF Available
      920 Alexis Rd, Toledo, OH 43612
      View Details
    • $15 SF/Yr
      1,375 SF

      Visible Retail Space For Rent

      Retail space with high traffic counts on a corner lot.
      24 E Alexis Rd, Toledo, OH 43612
      View Details
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    Toledo, OH 43612-5111
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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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