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Property profile & analytics
OFF-MARKET
Outlet malls

5057 Lewis Ave Toledo, OH 43612

20,420 SF 1.27 ac lot Built 1953
Individually Owned 1-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US66-1453135
Property summary
AI-generated overview

This 20,120-square-foot vacant flex space at 5057 Lewis Avenue in Toledo, Ohio, presents a compelling redevelopment opportunity. The Class A industrial property, built in 1953, sits on a 1.269-acre lot with four street frontages, offering excellent visibility and accessibility. Currently zoned CR, rezoning to IL is anticipated. The building features an 8-foot ceiling height, 85+ parking spaces, an overhead door with a lift, and prominent pylon and overhead door signage. The property's location near major employers like GM and Stellantis Jeep plants, and proximity to I-75 and northend industrial parks, makes it strategically advantageous. While previously leased to a flea market on a modified gross lease (with a 90-day termination clause), the property is currently vacant, allowing for complete customization to suit a variety of uses. The building is a block structure with a brick façade, and lacks sprinklers, gas blowers, and air conditioning. A TARTA bus stop is conveniently located directly in front of the building on Lewis Avenue. The asking price is $395,000, representing a price per square foot of $24.60. The property's APN is 0981087. This is a NNN lease property.

Property profile
Verified
Property type Outlet malls
Use group WHOLESALE OUTLET, DISCOUNT STORE
Year built 1953
Total area 20,420 SF
Lot 1.27 ac (55,211 SF)
Zoning code 10-CR
APN 09-81087
UPID US66-1453135
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
  • Lucky's Thrift Store Discount Store
  • Budget Mans Flea MRket Food Market Farmer's Market
  • Dollar Giant Flea Market (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
by Request
Owner & transaction history
Daoud Maayah · 1 yrs held
Daoud Maayah
since 2025
Last sale
$285,000
2 recorded transactions
2025
$285,000
2017
Price N/A
Zoning & alternative use
10-CR · Toledo, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source Microsoft Word - TMZC 2024-04-24
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