Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    4645 Lewis Ave Toledo, OH 43612-2336

    • Assisted living facilities
    • 55,872 SF
    • 3.65 lot acres
    OFF-MARKET
    Value Estimations
    $1,320,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2369050
    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

    • Merit House Senior Community / Assisted Living Facility / Nursing Home

    Property Details for 4645 Lewis Ave

    Year built
    1965
    Lot size
    3.65 lot acres
    Property size
    55,872 SF
    Zone code
    10-RM36
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    18-21027
    APU
    1821027

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $2,130,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Toledo
    County
    Lucas
    State
    Ohio
    Longitude
    -83.5674
    Latitude
    41.7028
    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
    $103,925
    $15,120
    $793,730
    $808,850
    -
    $43,200
    $2,267,800
    $2,311,000

    Comparable in this City

    • Value Estimation by Request
      0.72 Acres

      4701 Lewis Ave

      HOMES (RETIRED, NURSING) • 0.72 Acres
      4701 Lewis Ave, Toledo, OH 43612
      View Details
    • Value Estimation by Request
      1.02 Acres

      721 Phillips Ave

      MEDICAL BUILDING • 1.02 Acres
      721 Phillips Ave, Toledo, OH 43612
      View Details
    • Value Estimation by Request
      2,335 SF

      723 Phillips Ave

      MEDICAL BUILDING • 2,335 SF
      723 Phillips Ave, Toledo, OH 43612-1300
      View Details
    • Value Estimation by Request
      2,357 SF

      723 Phillips Ave

      MEDICAL BUILDING • 2,357 SF
      723 Phillips Ave, Toledo, OH 43612-1300
      View Details
    • Value Estimation by Request
      15,836 SF

      723 Phillips Ave

      MEDICAL BUILDING • 15,836 SF
      723 Phillips Ave, Toledo, OH 43612-1300
      View Details
    • Value Estimation by Request
      2,144 SF

      5104 Lewis Ave

      MEDICAL BUILDING • 2,144 SF
      5104 Lewis Ave, Toledo, OH 43612-3106
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Land with On-Site Service Shop

      Land available with private service shop for inspections and maintenance.
      4775 Kettering Dr, Toledo, OH 43612
      View Details
    • Contact for pricing
      99,408 SF

      99,408 SF Manufacturing Building

      Manufacturing building on 12.1 acres with heavy power.
      911 Matzinger Rd, Toledo, OH 43612
      View Details
    • $149,900

      Income-Ready Townhouse-Style Duplex

      Townhouse-style duplex near UT, Toledo Hospital, and I-475.
      3864 Almeda Dr, Toledo, OH 43612
      View Details
    • $115,000

      Duplex in Toledo Portfolio

      Part of a larger portfolio with high occupancy.
      3855 Revere Dr, 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
    • $1,500,000
      21,463 SF

      Lagrange Street Warehouse - Toledo, OH

      Industrial Warehouse, 21,463 SF, Owner/User
      4310 Lagrange St, Toledo, OH 43612
      View Details

    Similar Nearby for Lease

    • $11 SF/Yr
      4,750 SF

      Retail Building on W Alexis

      4,750 SF retail building with excellent visibility and access.
      1131 W Alexis Rd, Toledo, OH 43612
      View Details
    • $11 SF/Yr
      2,306 SF

      Freestanding Building at Ohio/Michigan Border

      Freestanding building with retail and flex space for lease.
      6195 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
    • Contact for pricing
      230,000 SF

      Toledo Warehouse Space Available

      230,000 sqft warehouse space for lease in Toledo, OH.
      1435 Matzinger Rd, Toledo, OH 43612
      View Details
    • Contact for pricing

      Prime Retail Pad Site Available

      Retail pad site and redevelopment opportunity in Toledo, Ohio.
      5827 Lewis Ave, 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
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    4645 Lewis Ave
    Toledo, OH 43612-2336
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.