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    4208 Airport Hwy Toledo, OH 43615
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    Property profile & analytics

    4208 Airport Hwy, Toledo, OH 43615

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    • Strip malls
    • 24,520 SF
    • 1.89 lot acres
    For Sale
    $1,414,877
    View Listing →
    Toledo Retail Investment Opportunity For Sale
    $1,414,877
    24,520 SF

    Toledo Retail Investment Opportunity

    24,520 SF retail building in Toledo, Ohio for sale.

    4208 Airport Hwy, Toledo, OH 43615
    View Listing
    Property ID
    US66-6260742
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Family Dollar / Discount Store

    Property Details for 4208 Airport Hwy

    Year built
    1982
    Lot size
    1.89 lot acres
    Zone code
    10-CN
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    02-38771
    APU
    238771

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 19, 2022 $813,800 Next Level Re3 LLC Ohio County Trail Ltd Warranty Deed $570k · Us Bank NA
    Mar 6, 2020 $730,000 Ohio Country Trail Ltd Truth Properties LLC Warranty Deed $700k · The Farmers & Merchants State Bank
    Apr 2, 2015 — Truth Properties LLC Dominguez Properties Ltd Quit Claim Deed · related $536k · Pnc Bank NA
    Feb 5, 2013 — Dominguez Properties Ltd — Loan Modification · related $2.3M · Huntington National Bank
    Dec 27, 2006 $750,000 Dominguez Properties Ltd Virginia L Biniker Warranty Deed $600k · Sky Bank
    — — Dominguez Properties Ltd — Deed Of Trust · related $184k · Huntington National Bank

    Description

    This exceptional 24,520 square foot retail strip center, built in 1982, is strategically located at the intersection of Airport Highway and Wenz Road in Toledo, Ohio (zip code 43615). The property boasts a prominent position, directly across from Swan Creek Metropark and surrounded by a substantial residential population including numerous apartment complexes and single-family homes. The center features a single building with ample parking for 100 vehicles, ensuring convenient access for customers and employees. Currently, there are multiple vacancies totaling 13,684 square feet, presenting a significant opportunity for expansion or new tenancy. The zoning designation is 10-CN. The property's address is 4208 Airport Highway, Toledo, OH. This well-maintained property offers a strong foundation for a variety of retail businesses, benefiting from its high visibility and proximity to a dense residential area and recreational amenities. The property's parcel number (APN) is 0238771. The substantial available space presents a unique opportunity for businesses seeking a prime location in a thriving Toledo neighborhood. This is an excellent investment opportunity for those seeking a well-located retail property with significant potential for growth.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $705,000
      ML approach
      $975,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,495,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Toledo
    County
    Lucas
    State
    Ohio
    Longitude
    -83.6431
    Latitude
    41.6206
    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
    $25,082
    $58,485
    $197,015
    $255,500
    -
    $167,100
    $562,900
    $730,000

    Comparable in this City

    • Value Estimation by Request
      0.13 Acres

      1822 Reynolds Rd

      SHOPPING CENTER, STRIP CENTER
      1822 Reynolds Rd, Toledo, OH 43615-3530
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    • Value Estimation by Request
      0.10 Acres

      956 Reynolds Rd

      SHOPPING CENTER, STRIP CENTER
      956 Reynolds Rd, Toledo, OH 43615-7057
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    • Value Estimation by Request
      1,200 SF

      519 Reynolds Rd

      SHOPPING CENTER, STRIP CENTER
      519 Reynolds Rd, Toledo, OH 43615-6311
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    • Value Estimation by Request
      1,200 SF

      555 Reynolds Rd

      SHOPPING CENTER, STRIP CENTER
      555 Reynolds Rd, Toledo, OH 43615-6311
      View Details
    • Value Estimation by Request
      1,200 SF

      545 Reynolds Rd

      SHOPPING CENTER, STRIP CENTER
      545 Reynolds Rd, Toledo, OH 43615-6311
      View Details
    • Value Estimation
      $880,000
      12,384 SF

      5208 Renwyck Dr

      SHOPPING CENTER, STRIP CENTER
      5208 Renwyck Dr, Toledo, OH 43615
      View Details

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      10,000 SF

      Toledo Shopping Center Investment Opportunity

      Fully occupied shopping center with long-term tenants and ample parking.
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      10,000 SF

      Retail Investment Opportunity

      Fully occupied shopping center with long-term tenants and ample parking.
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      16,691 SF

      Retail Space Available For Sale

      16,691 SqFt retail space available for purchase.
      5455 Airport Hwy, Toledo, OH 43615
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    • $265,000

      Self-Service Car Wash For Sale

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      8,308 SF

      Retail Space Near Airport Highway

      Retail property with high traffic and convenient highway access.
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    Similar Nearby for Lease

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      Boutique Retail & Office Property

      Two-story retail and office property in affluent Toledo neighborhood.
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      Retail Space in Airport Square

      Retail suites available in established South Toledo shopping center.
      5225 Airport Hwy, Toledo, OH 43615
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      Retail Space in Airport Square

      Retail suites available in South Toledo shopping center.
      5225 Airport Hwy, Toledo, OH 43615
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      1,535 SF

      Retail Space with High Visibility

      Retail space with excellent frontage and ample parking.
      5325 Airport Hwy, Toledo, OH 43615
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      25,000 SF

      Retail Space with High Visibility

      Retail space with excellent frontage and ample parking.
      5201-5315 Airport Hwy, Toledo, OH 43615
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    • $16 SF/Yr

      Retail Suite at St. James

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      View Details
    View Listing
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    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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