Add Listing
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

    5122 Heatherdowns Blvd Toledo, OH 43614

    • Strip malls
    • 24,800 SF
    • 2.00 lot acres
    For Lease
    View listing
    $12 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-6064133
    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

    • Perfect Fit Alterations / (Bike/Boat/Book/etc) Store
    • CrysStyles Hair Salon / Hair Salon
    • Cinco De Mayo Amigo / Restaurant
    • Bernardo D Martinez MD / Physician / Hospital
    • FoodieCards / Advertising Agency / Marketing & Advertising

    Property Details for 5122 Heatherdowns Blvd

    Year built
    1974
    Lot size
    2.00 lot acres
    Property size
    24,800 SF
    Zone code
    10-CR
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    20-01911
    APU
    2001911

    Description

    This exceptional 24,300 square foot multi-tenant building, located at 5122 Heatherdowns Blvd in Toledo, Ohio, presents a unique investment opportunity. Originally constructed in 1974 and extensively renovated in 2009, the property boasts a blend of medical office and specialty retail space, perfectly suited for a variety of businesses. Situated in Lucas County, the building's convenient location offers excellent visibility and accessibility. Currently, there are 1,500 square feet of office space and 1,200 square feet of retail space immediately available for lease. The building's substantial size and adaptable layout provide ample room for expansion or customization to meet specific tenant needs. This property represents a strong investment in a thriving Toledo market, offering a blend of established infrastructure and modern amenities. The building's history of successful tenancy speaks to its desirability and potential for continued growth. Interested parties are encouraged to inquire about lease terms and availability for the currently vacant spaces. The property's strategic location within Lucas County, coupled with its versatile design, makes it an ideal choice for businesses seeking a prominent presence in the Toledo area. This is a rare opportunity to acquire a well-maintained and strategically located commercial property in a high-demand market. The 43614 zip code offers easy access to major transportation routes and a diverse range of amenities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,983,000
      Market price range: $713k - $2.62M
      AI Estimate
      $1,044,000
      Market price range: $382k - $1.52M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,750,000
      Current use
      MEDICAL BUILDING
      $1,835,000
      Change: +5% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,790,000
      Change: +2% Conversion: Difficult
      RETAIL STORES
      $1,610,000
      Change: -8% Conversion: Easy
      OFFICE BUILDING
      $1,570,000
      Change: -10% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $1,510,000
      Change: -14% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Toledo
    County
    Lucas
    State
    Ohio
    Longitude
    -83.6631
    Latitude
    41.5952
    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
    $34,907
    $131,495
    $243,985
    $375,480
    -
    $375,700
    $697,100
    $1,072,800

    Comparable in this City

    • Value Estimation
      $2,755,000
      39,578 SF

      1515 Byrne Rd

      SHOPPING CENTER, STRIP CENTER • 39,578 SF
      1515 Byrne Rd, Toledo, OH 43614-3458
      View Details
    • Value Estimation by Request
      4,001 SF

      2028 Byrne Rd

      SHOPPING CENTER, STRIP CENTER • 4,001 SF
      2028 Byrne Rd, Toledo, OH 43614-5101
      View Details
    • Value Estimation by Request
      6,000 SF

      5145 Glendale Ave

      SHOPPING CENTER, STRIP CENTER • 6,000 SF
      5145 Glendale Ave, Toledo, OH 43614-1801
      View Details
    • Value Estimation by Request
      4,444 SF

      2245 Reynolds Rd

      SHOPPING CENTER, STRIP CENTER • 4,444 SF
      2245 Reynolds Rd, Toledo, OH 43614-1414
      View Details
    • Value Estimation by Request
      4,500 SF

      2266 Tedrow Rd

      SHOPPING CENTER, STRIP CENTER • 4,500 SF
      2266 Tedrow Rd, Toledo, OH 43614
      View Details
    • Value Estimation
      $640,000
      14,410 SF

      1843 Eastgate Rd

      SHOPPING CENTER, STRIP CENTER • 14,410 SF
      1843 Eastgate Rd, Toledo, OH 43614
      View Details

    Similar Nearby for Sale

    • $3,650,000

      New Construction Sheetz Fuel Store

      New construction Sheetz with 15-year absolute NNN ground lease.
      1950 S Reynolds Rd, Toledo, OH 43614
      View Details
    • $500,000
      2,745 SF

      Toledo Car Wash - $500K

      Profitable Car Wash, High Traffic Area
      4425 Heatherdowns Blvd, Toledo, OH 43614
      View Details
    • $99,000

      Turnkey Restaurant Business For Sale

      Turnkey restaurant in South Toledo, includes business, FF&E, lease.
      1515 S Byrne Rd, Toledo, OH 43614
      View Details
    • $2,950,000
      14,564 SF

      Toledo Retail Property: Prime Location

      Former Rite Aid: Redevelopment Opportunity
      2450 Reynolds Rd, Toledo, OH 43614
      View Details
    • Contact for pricing
      6,811 SF

      Commercial Pad Site on Glendale

      1.6-acre commercial pad site with high visibility.
      2915 Glendale Ave, Toledo, OH 43614
      View Details
    • $480,000
      2.40 Acres

      Toledo Commercial Land - $480K

      2.4-acre commercial lot, prime Toledo location.
      2325 Reynolds Rd, Toledo, OH 43614
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,480 SF

      Retail Space in Toledo Commons

      Retail space available in densely populated Toledo location.
      3043-3047 Glendale Ave, Toledo, OH 43614
      View Details
    • $13 SF/Yr

      Retail Space in Colonial Village

      Retail space for lease in South Toledo neighborhood center.
      4400 Heatherdowns Blvd, Toledo, OH 43614
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space Near Walmart Supercenter

      Retail space available in a busy shopping center.
      3015 Glendale Ave, Toledo, OH 43614
      View Details
    • $16 SF/Yr
      10,050 SF

      Shoppes at Glendale Retail Space

      Toledo Retail Center: High Traffic Location
      3002 Glendale Ave, Toledo, OH 43614
      View Details
    • $12 SF/Yr
      2,945 SF

      Retail Suites Available for Lease

      Retail suites available with full basement for storage.
      2030-2040 S Byrne Rd, Toledo, OH 43614
      View Details
    • Contact for pricing
      4,100 SF

      Retail Spaces Available for Lease

      Retail spaces available immediately, tenant improvement allowance potential.
      1339-1415 Glendale Ave, Toledo, OH 43614
      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.
    5122 Heatherdowns Blvd
    Toledo, OH 43614
    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.
    Sign Up Successful!
    You now have access to more from Realmo!