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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    6616 Central Ave Toledo, OH 43617

    • Office buildings
    • 8,112 SF
    • 0.22 lot acres
    OFF-MARKET
    Last Sale
    Feb 22, 2025
    $337,500
    Value Estimations
    $390,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2366217
    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

    • Office buildings

    Property Details for 6616 Central Ave

    Year built
    1988
    Lot size
    0.22 lot acres
    Property size
    8,112 SF
    Zone code
    20-C2
    Property type
    Office buildings
    APN
    78-68514
    APU
    7868514

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $335,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $444,000
      Market price range: $257k - $869k
      AI Estimate
      $415,000
      Market price range: $229k - $687k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $515,000
      Current use
      RETAIL STORES
      $525,000
      Change: +2% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $495,000
      Change: -4% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Toledo
    County
    Lucas
    State
    Ohio
    Longitude
    -83.7013
    Latitude
    41.6757
    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
    $19,504
    $7,910
    $182,140
    $190,050
    -
    $22,600
    $520,400
    $543,000

    Comparable in this City

    • Value Estimation
      $260,000
      0.17 Acres

      3144 Mccord Rd

      OFFICE BUILDING • 0.17 Acres
      3144 Mccord Rd, Toledo, OH 43617-1033
      View Details
    • Value Estimation
      $1,250,000
      26,112 SF

      6629 Central Ave

      OFFICE BUILDING • 26,112 SF
      6629 Central Ave, Toledo, OH 43617-1098
      View Details
    • Value Estimation
      $950,000
      7,355 SF

      7540 New W Rd

      OFFICE BUILDING • 7,355 SF
      7540 New W Rd, Toledo, OH 43617-4200
      View Details
    • Value Estimation
      $705,000
      30,604 SF

      3516 Granite Cir

      OFFICE BUILDING • 30,604 SF
      3516 Granite Cir, Toledo, OH 43617-1172
      View Details
    • Value Estimation
      $400,000
      6,000 SF

      7071 Central Ave

      OFFICE BUILDING • 6,000 SF
      7071 Central Ave, Toledo, OH 43617-2700
      View Details
    • Value Estimation
      $395,000
      11,401 SF

      7110 Central Ave

      OFFICE BUILDING • 11,401 SF
      7110 Central Ave, Toledo, OH 43617-3115
      View Details

    Similar Nearby for Sale

    • $3,738,937
      14,076 SF

      Class A Office Building

      Net leased Class A office building in desirable business park.
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    • $1,699,000
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      Class A Office Space Toledo

      Turn-key professional office or medical endcap suite for sale.
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    • $355,980
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      Sylvania Township Office For Sale

      2,094 SF office condo in Kings Pointe business park.
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    • Contact for pricing
      4,638 SF

      Sylvania Township Office Condo

      Highly visible and accessible office condo in Sylvania Township.
      6800 W Central Ave, Toledo, OH 43617
      View Details
    • Contact for pricing
      5.00 Acres

      Toledo & Dayton Commercial Land

      Five acres, prime development opportunity.
      11 Central Ave, Toledo, OH 43617
      View Details
    • $479,000
      2.13 Acres

      Sylvania Twp Commercial Land - 2.13 Acres

      Prime Toledo development land, build-to-suit option.
      3420 Meijer Dr, Toledo, OH 43617
      View Details

    Similar Nearby for Lease

    • $23 SF/Yr
      4,605 SF

      Class A Office Space Available

      Unique office space with high visibility and efficient layout.
      7205 W Central Ave, Toledo, OH 43617
      View Details
    • $18 SF/Yr
      34,000 SF

      Meijer Drive Office Campus

      West Toledo Office Space, Build-to-Suit
      3420 Meijer Dr, Toledo, OH 43617
      View Details
    • $11 SF/Yr
      25,000 SF

      Sylvania Twp. Office Space Available

      Modern Office Suites, West Toledo
      3230 Central Park, Toledo, OH 43617
      View Details
    • $12 SF/Yr
      1,316 SF

      Sylvania Township Office Suite

      Professional office suite available in January 2026.
      2750-2758 Centennial Rd, Toledo, OH 43617
      View Details
    • $1,500 /Mo
      1,091 SF

      Office Space with Excellent Visibility

      Office space for lease with high visibility and ample parking.
      2210-2270 Centennial Rd, Toledo, OH 43617
      View Details
    • $17 SF/Yr
      1,754 SF

      Toledo Office Space for Lease

      Office space for lease in a convenient Toledo location.
      6545 W Central Ave, Toledo, OH 43617
      View Details
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    6616 Central Ave
    Toledo, OH 43617
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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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