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Property profile & analytics
OFF-MARKET
Estimated value
$900,000
Office buildings
31 Erie St, Toledo, OH 43604-6939
Entity Owned
25-yr Hold
~
Est. High Equity
Property ID
US66-2531558
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1877
Total area
11,067 SF
Lot
0.14 ac (6,063 SF)
Zoning code
10-CD
APN
12-15931
UPID
US66-2531558
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
-
Communica World Advertising Agency Marketing & Advertising
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.19M
Blend (final)
Blend
$900k
Owner & transaction history
Leasewerks LLC
Leasewerks LLC
1 recorded transaction
Zoning & alternative use
10-CD · Toledo, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$820,000
+16.9%
Auto repair, garage
$800,000
+13.8%
Neighborhood: shopping center
$780,000
+11.3%
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
OFFICE BUILDING
$700,000
Current use
MEDICAL BUILDING
$820,000
Change: +17% · Conversion: Easy
AUTO REPAIR, GARAGE
$800,000
Change: +14% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$780,000
Change: +11% · Conversion: Difficult
RETAIL STORES
$720,000
Change: +2% · Conversion: Moderate
COMMERCIAL (GENERAL)
$675,000
Change: -4% · Conversion: Easy
Blend value · Realmo final
$900k
Range $810k – $990k · ±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
$81 / 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
$12,709
Tax year 2023
Assessed value
$108,920
Assessed 2023
Previous assessed
$123,760
-12.0% YoY
Effective rate
11.67%
On assessed value
Assessed land
$4,305
Assessed improvement
$104,615
Land market value
$12,300
Improvement market value
$298,900
Total market value
$311,200
Applied tax rate
12.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1877
Heating
NONE
Stories
2
Total area
11,067 SF
Lot
0.14 ac (6,063 SF)
Zoning code
10-CD
APN
12-15931
UPID
US66-2531558
Jurisdiction
LUCAS
Zoning & alternative use
10-CD · Toledo, OH
Zoning 10-CD · permitted uses
10-CD · 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
OFFICE BUILDING Current
Est. value
$700,000
MEDICAL BUILDING
Est. value
$820,000
AUTO REPAIR, GARAGE
Est. value
$800,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$780,000
RETAIL STORES
Est. value
$720,000
COMMERCIAL (GENERAL)
Est. value
$675,000
OFFICE BUILDING Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
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
1877
Heating
NONE
Stories
2
Lot
0.14 ac
Current owner
From public records · entity-resolved
Leasewerks LLC
Entity
Mailing address
31 N ERIE ST, TOLEDO, OH 43604-6939
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
Leasewerks LLC
—
Deed Of Trust
related
$925,000 · Waterford Bank NA
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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