Entity Owned Property summary
AI-generated overview
This exceptional 14,564 square foot former Rite Aid retail space in Toledo, Ohio, presents a compelling investment opportunity. Strategically located on the hard corner of S. Reynolds Road and Heatherdowns Boulevard, this single-tenant property benefits from a combined daily traffic count of 53,000 vehicles, ensuring high visibility and exposure. The property features a convenient drive-thru lane and two large pylon signs for optimal marketing. Its prime location offers direct access to I-80/90 (Ohio Turnpike), enhancing accessibility. The surrounding area boasts a strong retail presence, including national tenants such as Kroger, Goodwill, and a new 150,000 square foot Amazon delivery station, creating a synergistic environment with high consumer traffic. The 5-mile trade area encompasses a substantial population of 153,802 residents and 84,038 daytime employees, with an average household income of $91,426. Furthermore, the property's proximity to several large apartment complexes, including Alt Stone Bridge, The Woodlands, and Genesis Village, provides a readily available residential customer base. This property is situated in Lucas County, Ohio, with the address being 2450 S Reynolds Rd, Toledo, OH 43614.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2005
Total area
18,128 SF
Lot
2.6 ac (113,300 SF)
Zoning code
10-CR
APN
20-01330
UPID
US66-6058094
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Marketing & Advertising Advertising Agency
-
Pharmacy
-
Pediatrician Physician
-
Physician
-
Medical Clinic
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.82M
Comparable Approach
Comparable
$2.19M
Blend (final)
Blend
$1.90M
Owner & transaction history
since 2006
4 recorded transactions
Zoning & alternative use
10-CR · Toledo, OH
Top alternative use upside
Restaurant
$2.9M
+143.1%
Medical building
$1.3M
+14.1%
Auto repair, garage
$1.3M
+11.1%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 7 comparables with addresses
6 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$1.90M
Value range
$1.71M – $2.09M
±10% around blend
Estimated value / SF
$105 / SF
Confidence
High
7 county-verified comps
Property data
100
Market benchmarks
67
Comparable evidence
70
$1.71M
blend $1.90M
$2.09M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
18,128 SF
Lot area
2.6 ac
Year built
2005
Stories
1
APN
20-01330
Zoning
10-CR
Assessed value
$447,965
Annual tax
$41,998
3
Income approach: direct capitalization
Partial preview
Income approach indication
$1.82M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$1.97M
@ 6.5% CAP return
$1.82M
@ 7% CAP return
$1.69M
4
Sales comparison
Partial preview
Sales approach indication
$473k
Weighted, 7 comps · high confidence
Evidence
7 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
1.7 mi away · 18,200 SF
4.0 mi away · 15,048 SF
7.0 mi away · 22,310 SF
7.0 mi away · 16,200 SF
8.2 mi away · 15,048 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$1.90M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 304 sales
$65
+61%
County 363 sales
$71
+48%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $105/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Restaurant
Gross theoretical uplift
+143%
vs current-use indication
Medical Building
Auto Repair, Garage
Neighborhood: Shopping Center
Retail Stores · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 7 sales
Market rates by use type
PDF export
Professional Plan · 30 reports
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Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$448k
Move the market yield to see immediate price impact.
Value / SF
$25
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$28k
$564k
$403k
$314k
$31k
$627k
$448k
$348k
$34k
$690k
$493k
$383k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
7 found
High confidence · county-verified
Closest comparable
$235k
0.8 mi · Mar 2026 · $13/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$41,998
Tax year 2023
Assessed value
$447,965
Assessed 2023
Previous assessed
$447,965
+0.0% YoY
Effective rate
9.38%
On assessed value
Assessed land
$54,530
Assessed improvement
$393,435
Land market value
$155,800
Improvement market value
$1,124,100
Total market value
$1,279,900
Applied tax rate
20.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2005
Heating
NONE
Stories
1
Total area
18,128 SF
Lot
2.6 ac (113,300 SF)
Zoning code
10-CR
APN
20-01330
UPID
US66-6058094
Jurisdiction
LUCAS
Zoning & alternative use
10-CR · Toledo, OHZoning 10-CR · permitted uses
10-CR · Toledo, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
2005
Heating
NONE
Stories
1
Lot
2.6 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
10-CR
Jurisdiction
Toledo, OH
Recorded code
10-CR
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for 10-CR in Toledo, OH.
What opens after registration
Zoning profile
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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