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    Property profile & analytics

    7117 Central Ave Toledo, OH 43617

    • Strip malls
    • 15,340 SF
    • 2.05 lot acres
    For Lease
    View listing
    $12 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1700299
    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

    • Strip malls

    Property Details for 7117 Central Ave

    Year built
    1999
    Lot size
    2.05 lot acres
    Property size
    15,340 SF
    Zone code
    20-C2
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    79-20171
    APU
    7920171

    Description

    This well-maintained 15,124 square foot strip center in Lucas County offers a 2,850 square foot retail space for lease. The property boasts a strong tenant mix, including Panera Bread, State Farm Insurance, Edward Jones, The Exercise Coach, Vine 2 Wine, and Lynette D. Jones Esthetics. The available space is ideal for a variety of uses, such as a spa, hair salon, yoga studio, or physical therapy clinic. Its large, open layout offers flexibility for various configurations. Located on West Central Avenue, just west of McCord Road, this highly visible location benefits from significant daily traffic of 31,000 vehicles. Its strategic position across from Lowe's and Meijer ensures excellent visibility and accessibility. The surrounding area demonstrates strong demographics, with an average household income of $121,499 and a population of 7,353 within a one-mile radius. The proximity to the St. James Woods residential neighborhood further enhances the property's appeal. This is a rare opportunity to secure a retail space in a thriving commercial corridor with exceptional visibility and strong tenant occupancy. The property is part of a multiple-tenancy building.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,621,000
      Market price range: $441k - $1.62M
      AI Estimate
      $982,000
      Market price range: $307k - $1.02M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,080,000
      Current use
      MEDICAL BUILDING
      $1,135,000
      Change: +5% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,105,000
      Change: +2% Conversion: Difficult
      RETAIL STORES
      $995,000
      Change: -8% Conversion: Easy
      OFFICE BUILDING
      $970,000
      Change: -10% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $935,000
      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
    -83.7133
    Latitude
    41.673
    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
    $40,865
    $192,850
    $199,535
    $392,385
    -
    $551,000
    $570,100
    $1,121,100

    Comparable in this City

    • Value Estimation
      $4,495,000
      46,656 SF

      6710 Central Ave

      SHOPPING CENTER, STRIP CENTER • 46,656 SF
      6710 Central Ave, Toledo, OH 43617-1132
      View Details
    • Value Estimation
      $550,000
      6,279 SF

      7007 Central Ave

      SHOPPING CENTER, STRIP CENTER • 6,279 SF
      7007 Central Ave, Toledo, OH 43617-2102
      View Details
    • Value Estimation
      $800,000
      9,644 SF

      6975 Central Ave

      SHOPPING CENTER, STRIP CENTER • 9,644 SF
      6975 Central Ave, Toledo, OH 43617-2100
      View Details
    • Value Estimation
      $1,085,000
      14,100 SF

      7394 Central Ave

      SHOPPING CENTER, STRIP CENTER • 14,100 SF
      7394 Central Ave, Toledo, OH 43617
      View Details
    • Value Estimation by Request
      0.19 Acres

      6524 Central Ave

      SHOPPING CENTER, STRIP CENTER • 0.19 Acres
      6524 Central Ave, Toledo, OH 43617-1031
      View Details
    • Value Estimation
      $1,420,000
      17,768 SF

      6801 Central Ave

      SHOPPING CENTER, STRIP CENTER • 17,768 SF
      6801 Central Ave, Toledo, OH 43617-0400
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,000 SF

      High-Traffic Retail Investment Opportunity

      Retail space with high visibility in Sylvania Township.
      3139 King Rd, Toledo, OH 43617
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      2,094 SF

      Sylvania Township Office For Sale

      2,094 SF office condo in Kings Pointe business park.
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      West Central Avenue Development Land

      Development-ready land with C2 zoning and high traffic exposure.
      8015 W Central Ave, Toledo, OH 43617
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    • $600,000
      3.69 Acres

      Toledo Commercial Land - 3.69 Acres

      Prime Commercial Land, Toledo, Ohio. High-traffic location.
      7911 Central Ave, Toledo, OH 43617
      View Details
    • $3,738,937
      14,076 SF

      Class A Office Building

      Net leased Class A office building in desirable business park.
      7311 Crossleigh Ct, Toledo, OH 43617
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    Similar Nearby for Lease

    • $12 SF/Yr
      15,124 SF

      West Central Avenue Retail Space

      Prime Retail Space Available, High Traffic
      7117 Central Ave, Toledo, OH 43617
      View Details
    • Contact for pricing
      2,848 SF

      Retail Space in Renovated Shoppes

      Renovated retail space with high visibility and ample parking.
      6725 W Central Ave, Toledo, OH 43617
      View Details
    • Contact for pricing
      5,560 SF

      Retail Space Near Lowe's

      Retail space with high visibility and easy highway access.
      7050 W Central Ave, Toledo, OH 43617
      View Details
    • $25 SF/Yr

      Renovated Retail Space in Sylvania

      High-visibility retail space in a recently renovated shopping center.
      6710 W Central Ave, Toledo, OH 43617
      View Details
    • Contact for pricing
      2,850 SF

      Retail Space on Central Avenue

      Retail space for lease in high-traffic Toledo location.
      7103-7117 W Central Ave, Toledo, OH 43617
      View Details
    • Contact for pricing
      5,800 SF

      Meijer Outlot: Sylvania Township Retail

      High-Visibility Retail Outparcel, 5,800 SF
      7340 Central Ave, Toledo, OH 43617
      View Details
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    7117 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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